Bank holidays: how banks and the dollar operate during the holidays

Bank holidays: how banks and the dollar operate during the holidays
Banks closed on Christmas and New Year: what happens to the dollar
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porEditorial Team
Argentina

The Central Bank defined the holidays on December 24 and 31 and limited the purchase of dollars during the holidays

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With the close of the year getting closer and closer, the financial calendar enters Holidays mode and forces a reorganization of key payments, collections, and purchases.

The Central Bank has already defined how the banking system will operate during the days leading up to Christmas and New Year. The decision has a full impact on daily operations and, above all, on the purchase of dollars.

El BCRA baja la tasa al 25% tras el respaldo financiero de Estados Unidos.
El BCRA baja la tasa al 25% tras el respaldo financiero de Estados Unidos.

Confirmed banking holiday: which days banks will not open

The Central Bank confirmed that there will be a banking holiday on Wednesday, December 24, and Wednesday, December 31. The measure applies to the institution's staff and was extended to the rest of the country's financial and exchange entities.

In practice, this means four days without traditional banking activity, if the holidays on December 25 and January 1 are included.

Purchase of dollars: which transactions will be suspended

During the holiday days, there will be no activity in the Free Foreign Exchange Market or on the Stock Exchange. This means that it will not be possible to buy official dollars or trade MEP dollars, either at the counter or through home banking.

El fin de los
El fin de los "arbolitos".

Digital platforms will be disabled for these transactions because they require open markets to settle trades. The only alternative that will remain active 24 hours a day will be stable cryptocurrencies (stablecoins), since they operate outside the traditional financial system.

Which transactions will be enabled

Although branches will remain closed, the digital financial system will continue to operate normally. It will be possible to make immediate transfers, pay bills, make purchases with cards, and carry out transactions through digital wallets.

Los cajeros automáticos seguirán funcionando con normalidad
Los cajeros automáticos seguirán funcionando con normalidad

The objective is to guarantee the normal functioning of payments in one of the weeks with the highest consumption of the year.

ATMs and cash: what is recommended

The Central Bank reported that the supply of ATMs will be reinforced during the recess.

In any case, it is recommended to withdraw cash in advance or use cash withdrawals at stores such as supermarkets and gas stations.


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