Non-resident tourists may sell foreign currency at the reference value of the dollar in the financial market for a maximum monthly amount of USD5,000 (or its equivalent in other currencies) at institutions licensed by the BCRA to trade in the foreign exchange market.
Institutions must check the identity of non-resident tourists—through a valid identity document—and verify both that they are not included in any of the lists prepared in accordance with the resolutions of the United Nations Security Council regarding anti-terrorism and that they do not reside in countries or territories which fail to apply the recommendations of the Financial Action Task Force (FATF) or else apply them inadequately.
Moreover, institutions must require that non-resident individuals submit an affidavit stating that they have not carried out transactions for an amount above USD5,000 in the preceding 30 running days in the ensemble of institutions.
To streamline customer service, institutions may settle this type of transactions based on the reference prices available at that time. In addition, institutions must proceed with the purchase of securities in the name of the non-resident clients within 2 (two) business days after their request.
For every transaction under this mechanism, institutions must issue a ticket in the name of the client stating the amount in foreign currency received and the amount in pesos delivered.
July 21, 2022