The Board of the BCRA adopted the resolution to change the determination of net global position in foreign currency in order to encourage floating rate deposit taking for the pre-financing of exports with no currency mismatching.
Under this resolution, pre-financings of exports involving dollar-linked liabilities may be deducted in order to calculate the net spot global position in foreign currency.
Thus, financial institutions can offer dollar-linked savings instruments, and grant dollar-linked loans to exporting companies, creating a new market for savings in pesos.
