Re: Haystack Q4 2012
Posted: 13 Dec 2012, 13:26
Bancos y casas de cambio exportarán el oro que ya no pueden vender en el país
Link article
TranslationBanks and Currency Exchange Offices export gold that they can no longer sell in the country.
Desde la implementación del cepo cambiario, sólo se venden divisas del país de destino a turistas. Si bien el oro es considerado por la AFIP como una divisa, ningún país de destino habilita su compra. Por esa razón se paralizaron las ventas y ya se estudia regresarlo a Suiza o Estados Unidos
l impacto en la instrumentación del cepo cambiario sigue cobrando víctimas. A una caída considerable del volumen en las operaciones de compra-venta de moneda extranjera, las casas de cambio y las entidades financieras ahora también parecen haber resignado el negocio igualmente rentable y oportunamente en alza de la compra-venta de oro. Por esa razón ya están evaluando exportar los excedentes que ya no pueden vender.
Since the implementation of the foreign exchange trap, only currencies of the country of destiny are sold to tourists. Though the gold is considered by the AFIP as a currency, no country of destiny uses it as a currency. By that reason the sales were blocked and one is already studying to return it to
Switzerland or United States.
To a considerable fall of the volume in the foreign currency buying and selling operations, the houses of change and the financial companies now also seem to have resigned the likewise profitable business opportunely in of the buying and selling of gold. By that reason already they are evaluating to export the surpluses that no longer can sell.
Por otro lado se descarta que el Banco Central pueda llegar a comprar ese remanente. La entidad que conduce Mercedes Marcó del Pont es la máxima tenedora del metal precioso ya que cuenta con 62.000 kilos de oro, lo que representa entre el 6 y el 7% de las reservas, pero en ese banco central señalan que;las compras de oro se hacen por canales exclusivos para bancos centrales y resulta imposible desde el punto de vista legal comprarles el remanente a aquellas entidades locales que quieran venderlo.
On the other hand one must disregard that the Central Bank could come to purchase this remainder. The entity who manages Mercedes, Marco del Pont, is the largest holder of the precious metal, with 62,000 kilos of gold, which represents 6% to 7% of the (national) reserves, but that at the central bank they indicated that the purchases of gold would be made through exclusive channels of the central banks, which makes it impossible, from the legal point of view, to purchase the remaining gold from those entities which would want to sell it.
Link article
TranslationBanks and Currency Exchange Offices export gold that they can no longer sell in the country.
Desde la implementación del cepo cambiario, sólo se venden divisas del país de destino a turistas. Si bien el oro es considerado por la AFIP como una divisa, ningún país de destino habilita su compra. Por esa razón se paralizaron las ventas y ya se estudia regresarlo a Suiza o Estados Unidos
l impacto en la instrumentación del cepo cambiario sigue cobrando víctimas. A una caída considerable del volumen en las operaciones de compra-venta de moneda extranjera, las casas de cambio y las entidades financieras ahora también parecen haber resignado el negocio igualmente rentable y oportunamente en alza de la compra-venta de oro. Por esa razón ya están evaluando exportar los excedentes que ya no pueden vender.
Since the implementation of the foreign exchange trap, only currencies of the country of destiny are sold to tourists. Though the gold is considered by the AFIP as a currency, no country of destiny uses it as a currency. By that reason the sales were blocked and one is already studying to return it to
Switzerland or United States.
To a considerable fall of the volume in the foreign currency buying and selling operations, the houses of change and the financial companies now also seem to have resigned the likewise profitable business opportunely in of the buying and selling of gold. By that reason already they are evaluating to export the surpluses that no longer can sell.
Por otro lado se descarta que el Banco Central pueda llegar a comprar ese remanente. La entidad que conduce Mercedes Marcó del Pont es la máxima tenedora del metal precioso ya que cuenta con 62.000 kilos de oro, lo que representa entre el 6 y el 7% de las reservas, pero en ese banco central señalan que;las compras de oro se hacen por canales exclusivos para bancos centrales y resulta imposible desde el punto de vista legal comprarles el remanente a aquellas entidades locales que quieran venderlo.
On the other hand one must disregard that the Central Bank could come to purchase this remainder. The entity who manages Mercedes, Marco del Pont, is the largest holder of the precious metal, with 62,000 kilos of gold, which represents 6% to 7% of the (national) reserves, but that at the central bank they indicated that the purchases of gold would be made through exclusive channels of the central banks, which makes it impossible, from the legal point of view, to purchase the remaining gold from those entities which would want to sell it.