The BCRA Continues Relaxing Access to the Free Foreign Exchange Market

Today, the BCRA authorized companies to access the Free Foreign Exchange Market (Mercado Libre de Cambios, MLC) to make payments of compensatory interest on financial debts to their related companies accrued as from January 1, 2025, without prior approval.

The Board also authorized access to the MLC for the payment of foreign currency debt issued by financial trusts with public offering in accordance with the regulations of the National Securities Commission (Comisión Nacional de Valores, CNV), provided that the amount was converted into pesos through the MLC at the time of primary placement. This measure not only makes foreign exchange regulations more flexible, but also seeks to promote the use of instruments through which people may channel savings in dollars in a currency competition environment.

The measures approved today by the Board of the BCRA are a new step in the process to normalize foreign exchange policy, which began in December 2023, and which involves the gradual removal of restrictions.

December 19, 2024

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