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Due to the reinforced stocks, the purchase of savings dollar collapsed 75% in October


In the first week of the month, banks only sold to the public 25% of the currencies they had placed in the same period in September.

Annabella quiroga

10/09/2020 1:16 PM

  • Clarí

  • Economy

Updated 10/09/2020 1:16 PM

In the first week of October, with all the new restrictions imposed by the Central Bank for the purchase of savings dollars in full force, foreign currency sales to the retail public

collapsed 75%

compared to the level of the same period in September.

As Clarín was able to confirm between the different entities, in the first five business days of the month

only 25% of the customers who tried could buy


The bulk rebounded for not meeting the requirements established by the monetary authority.

Most of the banks preferred to give information unofficially.

But the Banco Nación chose to provide accurate data.

As reported, from September 1 to 7, they had carried out


savings dollar sales


for a total of US $ 39 million.

From October 1 to 7,

66,719 homebanking operations were

completed, for a total of US $ 10 million.

In this way, the reinforced stocks fulfilled its objective and stopped the escalation in the purchase of dollars.


One out of every four customers

who had done so in September

bought dollars

. The rest were rejected by the Central Bank for being included in the restrictions, or for exceeding the monthly quota," they said from a leading private bank.

"We sold

between 25% and 30%

of what we had sold the previous month," they said from another entity.

In a foreign private bank they said that

sales fell 75%

compared to the first five days of the previous month.

"That is partly because of the rejections and partly because of the drop in the average ticket," they noted. 

In August, the latest official data,

4 million people bought a savings dollar

for US $ 942 million.

The AFIP data regarding the collection of the PAIS tax, the 30% surcharge on the purchase of foreign currency, shows that the amounts sold fell 8%, to US $ 870 million.

As of the application of the reinforced stocks, on the night of September 15, home

banking operations were stopped for 8 business days.

With the XXL stocks, people who receive social plans, those who do not have declared income, employees and directors of companies that entered the Work and Production Assistance (ATP) program, those who have quotas can no longer buy savings dollars frozen mortgage or pledge loans, those who entered into the automatic refinancing of card balances last April, monotributistas who received credit at a 0% rate, SMEs that obtained loans at 24%, health sector workers who received the $ 5,000 bonus from the Government and those who spent the quota of US $ 200 per month buying with a card.

On the other hand, they can buy public and judicial employees, private sector workers whose companies did not enter the ATP, those who live on income and retirees and pensioners.

Amid the rarefied climate due to the massiveness of the restrictions, the Executive Branch decided that high-ranking officials will not be able to buy dollars either.

The same was resolved by Congress for the deputies and senators.

Instead, the Judiciary still maintains that privilege.


Look also

The blue dollar does not find a ceiling and rises to $ 162 at the opening of operations

With the blue dollar at $ 158, the exchange gap reaches 105% and is the highest in the last 31 years

Source: clarin

All business articles on 2020-10-09

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