CB to make dollar availability more flexible

Argentina’s Central Bank (CB) approved a new measure to make flexible the minimum dollar requirement that the banks have to deposit in the monetary body, making the answer to the client’s demands easier.

Sources of the CB reported that, starting from Friday, the banks will count with the dollars that exceed the 20 percent of the mandatory bank reserve and that were not destined to loans.

The measure means that the banks’ dollar deposits have a 20 percent of mandatory bank reserve that must be retained by the Central Bank.

From the 80 percent that remains, the financial bodies also have to deposit in the CB the dollars that are not loaned.

This new measure approved states that the banks can now count with the part of the 80 percent that is not used for a loan.