Banks and exchange houses couldn’t sell dollars for saving


Argentina, January 27, 2014

According to Friday’s announcement, the possibility of buying dollars to save opened from today. However, despite many depositors approached banks and exchange houses authorized by the AFIP, the adequacy of the system to implement the new rules prevented the sale.

Neither banks nor exchange houses could start selling dollars at official price for saving, something that was previously forbidden. According to banking sources, the lack of information needed to implement the rules and the need to adapt their systems so far prevented the sale of foreign exchange.

They also said that banks could take up Wednesday or Thursday to update their internal systems with the new official measures, so that the market will normalize in a week.

While the government seemed more flexible exchange stocks, savers will have limited access to it. They may only acquire up to $s2.000 a month after passing through the filter collection agency that will take into account the level of compliance with stated income and tax payment before authorizing the transaction.

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