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First modification:
Argentina created three higher differential exchange rates for spending by tourists abroad, buying luxury goods and paying international artists performing in the country, as a way to avoid bleeding its meager international reserves.
No one knows for sure how many types of dollar there are in Argentina: there are from the ‘blue’ of the informal market, through the ‘soy’, to the ‘Netflix’. But now there will be three more types as a way for the Argentine government to close the foreign exchange tap even more.
The ‘Qatar’ dollar, the ‘luxury’ and the ‘Coldplay’ are the new inventions in a country that, yes or yes, needs to take care of its monetary reserves in order to meet the commitments made with the International Monetary Fund.
On the one hand, what has been called the ‘Coldplay dollar’, alluding to the British band that will soon be in Argentina, is a new differential exchange rate that will be applied to hiring foreign artists who give concerts in the country and also for sports activities that imply a transfer for payment abroad.
For entrepreneurs in the sector, with serious difficulties in accessing dollars at the official exchange rate or who bought through financial channels at a much higher value, the new rate ensures that they continue their activity and guarantee local jobs linked to production. of international shows.
New exchange rate for trips abroad and for luxuries
Meanwhile, the ‘Qatar dollar’, named for the higher expenses of Argentine travelers abroad that are expected for the World Cup, will be applied for consumption in dollars with a credit and debit card, tickets and superior tourist packages abroad at 300 dollars, at an exchange rate of 300 pesos per unit, when the standard exchange rate ranges between 150 and 290 pesos.
The same value will apply to the acquisition of imported luxury goods: from now on, whoever can, will only be able to buy high-end vehicles, yachts, jets or precious stones at the price of the “luxury dollar”.
The objective of the new measures is to “take care of the current monetary reserves” of some 40,000 million dollars, just 452 million dollars above the level of the end of 2021.
With EFE and local media
