13 Abr 26 Updates in the Foreign Exchange Regime
Martín Chindamo, Valentina Circolone y Alejo Garcia Ribes
On April 9, 2026, the Central Bank (hereinafter, the “BCRA” for its acronyms in Spanish) issued Communication “A” 8417 (hereinafter, the “Communication”), introducing amendments to the Foreign Exchange and Trade Consolidated Text, aimed at easing currency liquidation obligations and adjusting payment procedures for services and financial derivatives.
- Exports of goods and services
Natural persons are now exempt from the obligation to settle foreign currency proceeds from exports of goods, provided that the applicable regulatory deadlines and the conditions set forth for the export of services are complied with. However, this measure does not apply to exports carried out on behalf of legal entities or universal assets.
Additionally, this exemption is extended to all categories of service exports performed by individuals.
- Deadlines for the inflow of foreign currency
The Communication adjusts the deadlines for the inflow and settlement of foreign currency in specific cases:
Companies with subsidiaries: For exporters whose importer is a controlled company, the deadline for the inflow and settlement of foreign currency is extended, provided that the exporter has not exceeded USD 200,000,000 in exports during the previous calendar year.
Specific sectors: The deadline for the inflow of foreign currency is extended to 365 calendar days for exports to unrelated counterparties in the leather goods, apparel, and footwear sectors, as well as for exports under the tariff heading corresponding to parts of nuclear reactors.
III. Financial debt and securities
The Communication allows access to the foreign exchange market for the payment of principal and interest on securities up to 3 (three) business days prior to their maturity date.
It also eliminates the requirement of prior approval for the repayment of principal on financial indebtedness with related parties, provided that refinancing conditions are met or new funds are brought in with an average life of no less than 4 (four) years and a minimum grace period of 3 (three) years.
Furthermore, the Communication establishes that, in order to process foreign currency transfers abroad, a registration must be completed in the online system enabled by the BCRA, together with the execution of a sworn statement whereby the client undertakes not to enter into purchases of securities settled in foreign currency within the subsequent 90 (ninety) calendar days.
- Cards and Financial Derivatives
The Communication removes the limits previously applicable to cash withdrawals abroad as cash advances using credit or purchase cards.
Finally, regarding the purchase of foreign currency for transactions involving financial derivatives, the Communication provides that entities may grant access to the foreign exchange market for the payment of premiums, posting of collateral, and settlements related to hedging contracts between foreign currencies in connection with residents’ obligations with non-residents, provided that the hedged risks do not exceed the external liabilities effectively held by the debtor in the currency being hedged.