Friday, June 2, 2023

Attention savers: what is the cheapest dollar in the market and buy?

US banknotes have been the main investment by Argentines for years, given the constant devaluation of the Argentine peso.

The dollar is the main investment method of most Argentines who are looking for some protection of the value of their savings.

In this context, and in the midst of the increasing digitization of funds, virtual exchange houses are emerging that allow entrepreneurs to buy dollars quickly and easily.

But it is also important to know what type of dollar to buy and do, according to the interest of each user.

Dollar: which is the cheapest in the market

Among the various exchange rates, the MEP dollar sum is the cheapest index, which is listed below others such as the blue dollar and the currency (CCL).

The MEP dollar, also called “Bac” or “economic”, consists of the exchange rate that works in the capital market.

It arises from the purchase of a financial asset, or bond, in pesos and its subsequent sale in US currency. The exchange rate obtained is expressed by dividing the price in Argentine pesos by the price in US dollars.

MEP is a dollar trading transaction that is operated in the capital market and is among the cheapest trading rates

Different operators receive credit dollars through tourist payments from foreign tourists who enter our country for the sale of MEP dollars.

Consequently, this generates an average of US$5 million per day.

How to buy MEP dollars in Argentina?

A user can buy or invest dollars in two ways:

  • Via Home Bank of the user’s homebanking, as long as it is possible
  • Via investment platforms

As long as the user has a bank account, they can determine if the entity offers this type of investment.

They are usually done through home banks or through phone apps that offer these services.

MEP dollar: buy one another

Another option, which is growing among the options, is to create a client account on special platforms in this type of operation such as:

  • balance
  • Inverted Online (IOL)
  • Bull Market

Unlike the operation of the solidarity dollar and the monthly purchase limits, it is important to remember that there is no purchase ceiling either in the number of operations or in the quantity.

Some platforms such as IOL offer the possibility of buying MEP simple dollars and will allow you to place a purchase order for the GD30 bond in pesos.

Subsequently, the user who works through this application will be bought a bond in dollars equivalent to GD30.

Among the limitations to be aware of is the fact that Argentina Argentina (BCRA) was established last year, so that users of public services that pay state support in the price of bills are excluded; the purchasing power of dollars at the savings rate.

The measure also covers the value of money in the MEP financial market.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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