The new instrument to encourage agricultural producers to sell their soybean harvest before next August 31, which was approved this Tuesday by the Central Bank (BCRA), is now operational and the banks will be able to offer it to their clients from next Monday.

This was confirmed to Télam by BCRA sources, referring to the possibility of depositing 70% of the pesos obtained from soybean exports in an account that adjusts daily for changes in the exchange rate, and the remaining 30% to buy foreign currency at “savings dollar” (official + 65%), which on Friday closed at $226.50 at Banco Nación.

The objective of the Central Bank is that soy liquidations are, at least, some US$ 2,500 million above those expected until next August 31, and thus help to reinforce international reserves.

How does the system work

Specifically, the regulation establishes that producers may deposit 70% of the income produced by the sale of soybeans in a sight account (that is, with access to these funds at any time) that is adjusted daily based on the evolution of the A3500 exchange rate.

In addition, for the remaining 30%, the formation of external assets will be allowed at the value of the official dollar plus the PAÍS tax and the withholdings on account received by the AFIP.