They will be able to cover it totally or partially with an untransferable short-term bond from the Central Bank that can be settled at the official exchange rate. “The same thing happened in the 2021 elections,” an official source told the Herald. It does not refer to savers’ US dollars, but to the bank’s own dollars, an official source told the Herald. “Savers’ dollars are backed up by the Central Bank, nobody can touch them,” the source added. When authorized, the Central Bank allows businesses to buy US dollars at the official exchange rate, AR$350 per unit at the time of writing.

Source: Bueno Aires Herald October 13, 2023 19:57 UTC