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The six keys to buying the MEP dollar, the cheapest on the market

2020-12-16T12:05:10.468Z


Through an operation in the Buenos Aires stock market, currencies can be acquired at $ 141, below the price of the saving dollar and the blue dollar.- Blue dollar today: how much it is trading this Wednesday, December 16


Annabella quiroga

12/16/2020 6:00 AM

  • Clarín.com

  • Economy

Updated 12/16/2020 7:29 AM

Two weeks from the end of 2020, the MEP dollar is consolidated as

the cheapest in the market

;

It is trading at $ 141, three pesos below the savings dollar and ten pesos less than the blue dollar.

At the end of the year, partly due to seasonal issues that stimulate the demand for pesos and partly due to government interventions to control prices, the gap that separated the different types of dollars from the market closed.

There was

more than $ 50 difference

between the savings dollar and the blue dollar at the end of October and then the gap narrowed to enter the current phase of exchange rate pax in which all prices are crowded in a range of just $ 10.

By crossing the barrier and falling below the savings dollar, the MEP dollar became

a prey coveted

by savers who had not operated in this market until now.

These are the six keys to access the MEP dollar.

The dollar at two speeds: the official and the alternatives


Swipe to explore the data


CCL Blue Officer


Infographic:

BCRA |

MARKET DATA

Clarín

What is the MEP dollar?

It is an operation

That is done through the Buenos Aires stock exchange

and allows you to buy bonds or shares in pesos and then sell them in dollars to get greenbacks in this way.

The name MEP refers to the Electronic Payment Market through which the transaction is carried out.

It is also known as a

"dollar bag"

.

The AL30 bond, issued after the debt swap, is the most widely used in this market.

How is the MEP accessed?

To operate in the MEP it is necessary to open a client account in a brokerage, known as ALYCS.

In most cases the procedure can be done online, with a selfie and a photo of the DNI.

Opening the account is free

.

The next step is to transfer pesos to that account and order the purchase of the bonds.

And after three days, those bonds are sold in dollars and the dollars can be transferred to a bank account.

The operation can also be inverse: dollars are transferred to buy a bond in that currency, which is then sold in pesos.

For this bond purchase and sale transaction, you have to pay

a commission of around 1%. 

What is the price of the MEP dollar?

This Wednesday it started at $ 141. But in mid-October, with the markets convulsed by the effects of the strengthening of the exchange rate, it

reached a price of $ 163.

At the start of 2020 it was worth $ 77. However, it has been trading for 45 days. below $ 150. This occurs because official organizations such as ANSeS and the Central Bank go out to sell bonds to prevent financial dollars from escalating and at the same time putting pressure on the blue.

In addition, through changes in the regulations, the operations that can be carried out in this way are restricted.

It also influences the fact that companies demand

more pesos and less dollars

for year-end expenses

.

How much can you buy?


In the MEP

there is no maximum quota of dollars to buy per month

, nor is it affected by the Central Bank regulations that today prevent those who charge social plans or those who work in companies that received ATP, official aid from operating in the official for the payment of salaries.

Only those who have taken zero-rate loans or have mortgage or pledge loans with frozen installments are left out.

Are there restrictions to operate?

There are no limitations like those that operate on the savings dollar, but there is a restriction.

This is the brake on

the back and forth between the MEP and the savings dollar.

This implies that whoever used the monthly quota of US $ 200 cannot operate in the MEP for 90 days.

And vice versa: who operates in the MEP will not be able to go to the officer for the next three months.

That is why many of those who bought savings dollars in the first days of September were unable to go to the MEP for three months and

now they have that chance again.

What are the times of the operation?

For those who have pesos and want to make dollars, there is a parking provided by the Central Bank for

two business days.

At the beginning of the stocks, this parking was 5 days and then it went to 3 days.

So, whoever this Wednesday 16 starts the operation with the purchase of a security in pesos has to wait two business days to be able to sell it in dollars.

With the weekend in between, you will only be able to sell them on Monday the 21st at the price of the bond in dollars that day, which may be higher or lower than the value of the title on the day the operation was entered.

To buy bonds with dollars and sell them in pesos there is no parking.  

AQ

Look also

In 2020 the blue dollar rises more than 90% and triples inflation

Guzmán assures that in 2021 the reserves of the Central Bank will grow and they will be able to "adapt" exchange controls

Source: clarin

All business articles on 2020-12-16

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