Tightens its foreign exchange regime
01 Sep 2019
On 1 September 2019, the Central Bank of Argentina published its Communication A6770 to regulate the inflow and outflow of foreign exchange. The new restrictions specify, for example, that:
- export earnings in dollars must be exchanged within 15 business days for commodities or 180 days following the date of the shipping permit;
- Central Bank approval is required to transfer earnings and dividends abroad, purchase foreign currency to build up foreign assets, or make early repayment of debts;
- Central Bank approval is required to buy foreign currency above the USD 10,000 limit a month;
- no amount in excess of USD 10,000 a month per person may be transferred abroad;
- non-resident natural and legal persons may purchase up to USD 1,000 a month, but may not transfer them abroad.
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Type:
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Treatment and operation (Capital transfer and FOREX)
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