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1h ago

BCRA Reinstates 90-Day Cross-Market Ban for Individuals on Official and Financial Dollars

The step is meant to halt the “rulo” and safeguard reserves as the state mops up agroexport inflows.

Economía de los genéricos. Una mujer circula frente al Banco Central de la República Argentina el 23 Septiembre 2025. Foto/Antonio Becerra.
El Banco Central anunció que quienes compren dólares oficiales no podrán operar con los financieros por 90 días
La nueva normativa exige una declaración jurada para acceder al mercado de cambios
El Banco Central quiere evitar maniobras de rulo con los nuevos dólares de la cosecha.

Overview

  • Comunicación A 8336 took effect Friday, barring anyone who buys at the official rate from operating in MEP or CCL for the next 90 days.
  • Banks must obtain a sworn declaration from buyers pledging not to trade securities with foreign-currency settlement, extending a rule that had covered companies and finance executives to all individuals.
  • Financial dollar quotes jumped after the announcement, with MEP near $1,431 and CCL about $1,470, widening the exchange-rate gap to roughly 8%–11% in reported screens.
  • Officials emphasized that purchasing dollars to save at the official rate remains allowed, but the circular does not detail how compliance with the 90-day pledge will be monitored or penalized.
  • Traders reported strong Treasury/BCRA dollar purchases as a roughly US$7 billion farm-liquidation window flowed in, with reserves reported up around US$1.8–1.9 billion to about US$41 billion.