Standardized Response Procedure for Foreign Exchange Requests

The BCRA has set a work agenda with the Argentine Industrial Union (Unión Industrial Argentina, UIA) to handle the difficulties that the productive activity may encounter as a result of compliance with Communication A7030, which establishes the conditions to access the free and single foreign exchange market.

The BCRA will lay down a standardized procedure to process requests for authorization to access the forex market by importers of supplies that fall within the scope of such regulation.

The UIA’s authorities understood the need to bring market access to normal and expressed their concern to prevent delays in the processing of requests for access.

The BCRA will consider the requests made by the companies that unwind their positions in the so-called CCL or MEP transactions or that maintain positions in foreign exchange abroad as part of their regular business activity.

The online meeting lasted more than an hour, and was attended by the President of the BCRA, Miguel Pesce; the Head of the UIA, Miguel Acevedo; and the Secretary of Industry, Ariel Schale. The Vice President of the BCRA, Sergio Woyecheszen; Board member Arnaldo Bocco, and the BCRA’s General Manager, Agustín Torcassi; along with Martín Cabrales, Miguel Ángel Rodríguez, Martín Rapallini and Diego Coatz, from the UIA, also took part.

June 4, 2020.