The Central Bank (BCRA) announced the implementation of a special regime to encourage field sales in the absence of foreign currency. In this way, the creation of the “Soy dollar”which seeks to promote the liquidation of grains by producers.
This measure will allow farmers to cover themselves against a possible devaluation of the official exchange rate and even buy foreign currency at the value of the savings dollar, which is currently quoted $100 below the financiers.
The Government is confident that, with this initiative, it will ensure that the field liquidates at least part of some 20,000 million dollars that it would keep withheld in the face of exchange noise, amid a relentless drop in reserves.
The Central Bank expressed that it seeks to “balance agricultural producers with the benefits available to the different productive sectors.”