ARTICLE

BCRA Restricts Access to Foreign Exchange Market During Change of Authorities

As from today, prior approval from the Argentine Central Bank must be obtained to purchase and/or transfer foreign currency in the Foreign Exchange Market.

December 11, 2023
BCRA Restricts Access to Foreign Exchange Market During Change of Authorities

Through Communication “A” 7915, the Argentine Central Bank (BCRA) established that starting today—and with no end date—the demand of all foreign currency transactions in the Foreign Exchange Market (meaning outbound transactions), including those of financial institutions and exchange agencies, requires the BCRA’s prior approval.

According to a press release published on the BCRA website (Press Release 209/23), “the measure was decided to give time to the Executive Branch to comply with the administrative procedures to appoint the incoming authorities as well as to announce and implement the policies that will be carried out going forward.”

According to reports, during the transition, foreign exchange transactions will be analyzed and processed based on top priorities.