BCRA Delays Access to Dollars for Repayment of ONs to Discourage Speculative Movements

With the choice in CABA as a catalyst, operators believe that the result of Sunday can move the pieces and begin to pull out the values of the abulia of the last weeks. This Friday there were no big changes: d lares with slight rise, bonds of biles and firm shares. But since the BCRA does not add up reserves, they closed something to the stations of ON, and to the market that it does not like . They expect great harvest and great production n of…

By setting a new waiting period after issuing bonds, the monetary authority limited the actions of companies that took advantage of relatively low financing costs to obtain dollars.

The Central Bank closed down access to cheap financing and the purchase of dollars for businesses. The measure is in a context in which the monetary authority seeks to place a new bond.

The economic equipment had already slowed down a bank debt issue. As Envío said, some companies had found a way to gobble the remaining restrictions and turn dollars abroad.

The Argentine Central Bank (BCRA) extended the period of access to dollars for capital payments of Negotiable Obligations issued by Argentine companies to be paid abroad. The minimum time to access the official exchange market for ONs dollar cable will go from six to 18 months, a measure that seeks to discourage speculative movements and not reduce demand for the new Bopreal series that will be issued by the Argentine monetary authority this mon…