Overview

• Communication A 8336 extends the cross restriction to all individuals and companies, blocking MEP or CCL operations for 90 days after buying at the official rate, and vice versa.
• Banks must obtain a sworn declaration from each buyer pledging not to trade securities that settle in foreign currency for 90 days, with public reports noting limited detail on enforcement.
• MEP and CCL rose after the announcement, climbing roughly 3.7% and 4.8% respectively, widening the gap with the official rate to about 8–11% according to market data reported Friday.
• BCRA director Federico Furiase said the move does not bar people from buying official dollars but prevents those funds from supplying financial-dollar markets to “avoid distortions.”
• The measure lands as agroexport liquidations near US$7,000 million and authorities prioritize reserve buildup, with one outlet reporting gross reserves up about US$1.9 billion on Friday to US$41.24 billion.