Revolutionising Financial Flexibility: BCRA Mandates Banks to Offer Linked Dollar Demand Deposits for SMEs Engaged in Importation

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Summary:

The Banco Central de la Repu00fablica Argentina (BCRA) has issued a directive requiring financial institutions to offer a remunerated sight deposit for small and medium-sized enterprises (PyMEs) that import goods and capital goods for their productive activities. This deposit will be remunerated based on the variation of the official dollar (dollar linked) from the dispatch date to the effective payment date, up to the total amount of the payment to be made. This measure aims to provide a simple and easy access to coverage for PyMEs, which must request the account at the same bank with which they perform their foreign trade operations.