Foreign Exchange Restrictions Further Eased

Communication “A” 8296 issued by the Argentine Central Bank (BCRA) entered into force on August 8, 2025, introducing amendments to the foreign exchange regulations.

The Communication especially provides that exporters who, as of August 8, 2025, transfer to Argentina and sell through the foreign exchange market (FX Market) new export prefinancing with an average life of not less than three years, with at least one year grace, or two years, with at least 18 months grace, and which have been granted by foreign financial institutions or by local financial institutions funded through credit lines from abroad, may:
 

1. Hold export proceeds in foreign currency accounts, either in Argentina or abroad. These funds may be accumulated up to 125% of the amount required to cover principal and interest for the current month and the following six months. Any excess must be sold in the FX Market.

2. Access the FX Market to establish guarantees, either domestically or abroad, to ensure the repayment of such prefinancing, when due.

In these cases, the intervening financial institutions must:

1. verify compliance with the eligibility conditions,
2. obtain a sworn statement from the client where it undertakes not to apply the foreign currency before maturity without the BCRA’s prior approval,
3. monitor both the export permits and the guarantees set up, to ensure the traceability of the funds.

The Communication also established that new financial indebtedness with an average life at least two years and at least 18 months of grace for repaying principal will be considered transactions authorized for applying export proceeds of goods and services, provided that the funds of the indebtedness are transferred to Argentina and sold through the FX Market as of August 8, 2025.