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3h ago

BCRA Reinstates 90-Day Cross-Market Dollar Ban as Financial Rates Jump

Officials say the curb targets arbitrage to protect reserves.

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

  • Communication A 8336 revives the 90-day restriction that blocks anyone who buys at the official market from operating in MEP or CCL, and vice versa.
  • Banks must obtain a sworn declaration from clients committing not to execute securities trades with foreign-currency settlement for the subsequent 90 days.
  • The rule now applies to individuals as well as companies, rolling back part of April’s relaxation that had removed this limit for retail buyers.
  • MEP and CCL rose after the announcement and the gap with the official rate widened, with analysts noting the simple “rulo” arbitrage has been cut off.
  • Authorities frame the move as preserving Central Bank reserves and retaining incoming agroexport dollars, with gross reserves reported near US$39.3 billion.