Circular Foreign Exchange Operations and Movement of Funds and Securities with the Abroad - CAMEX 1 - 38

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 209 20/08/82
TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND FOREIGN EXCHANGE BROKERS:
Ref.: Circular FOREIGN EXCHANGE OPERATIONS AND MOVEMENTS OF FUNDS AND SECURITIES WITH THE ABROAD - CAMEX - 1 - 38

We address you with reference to the requests submitted to this Bank in forms 3687, corresponding to the subscription of External Bonds of the Republic of Argentina for the cancellation of obligations with the abroad, for the concepts of imports and of loans and interests, whose payment requests were entered into this Institution by 2.7.82.

Regarding this matter, we inform you that it has been resolved to authorize the financial entities authorized to operate in exchange to directly issue forms 3688, adjusting to the general character norms in force, practicing the settlement at the exchange rate of $15.750 per dollar.

To this end, they must take into account the following requirements and conditions, which the entities will comply with for the good outcome of the operations:

1. The debt to be cancelled must be registered in the Central Bank, in the Survey of Obligations with the Abroad (forms 3189 or 3191, as the case may be), with maturities operated up to
   2.7.82 inclusive.

2. A request for cancellation of the obligation must be pending resolution in the Central Bank, with registration entered by
   2.7.82, in form 4008 A, 4008 D or directly
   3687.

3. The request to subscribe to External Bonds of the Republic of Argentina, form 3687, by which
   form 3688 will be settled, must have its entry registered at the Central Bank by 16.8.82 inclusive.

4. For the settlement of the operation, the deposits constituted in the entities must be affected according to what is established by Communication “A” 191 of 2.8.82, point 2 and Communication “A”
   192 of 2.8.82, point 2.

5. Forms 3688 must be presented in the form and schedule of practice, by 6.9.82 inclusive,
   with adjustment, likewise, to what is provided by Communication “C” 268 of 6.7.82.

6. For each form 3688, a form 3758 must be presented, attached to it - signed at the management level - with the total detail, in numerical order, of forms 3687 and, where applicable, of
   the 4008 A or 4008 D pending resolution in this bank, which will be annulled.

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7. In the cases of operations to which the provisions of Decree 683/82 apply, the External Bonds will be held by the intervening financial entities, in custody and unavailable in the name of the holders of the abroad, as long as the norms of the cited decree apply.

It is highlighted that the procedure established, which aims to expedite the resolution and settlement of pending requests, is based fundamentally on the responsibility that falls on the entities authorized to intervene in the processing of these operations, for which reason their strictest compliance is recommended to facilitate the subsequent verification that will be carried out by the Central Bank.

We greet you very attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Jorge E. Magistrelli
Manager of Foreign Exchange and Change
Evaristo H. Evangelista
Deputy General Manager