Circular Foreign Exchange Operations and Movement of Funds and Securities with the Abroad - CAMEX 1 - 60

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 358 09/08/83
TO ENTITIES AUTHORIZED TO OPERATE IN EXCHANGE AND EXCHANGE BROKERS:
Ref: Circular FOREIGN EXCHANGE OPERATIONS AND MOVEMENT OF FUNDS AND SECURITIES WITH THE ABROAD - CAMEX - 1 - 60

We address ourselves to you and through you to the interested parties, to communicate to you the rules that have been decided to apply as a stimulus in favor of the companies participating in the price adjustment regime established by Resolution No. 279/83 of the Ministry of Economy.

On this matter and in relation to the exchange insurance contracted by these companies in accordance with the rules of Communication "A" 137 - Circular CAMEX - 1 - 26 of 5.7.82, it has been resolved a reduction of 2 (two) monthly points in the forward rates resulting from the option that, at the time, they would have exercised according to the rules of Communication "A" 229 - CAMEX - 1 - 41 of 24.9.82.

The resolution will take effect on the corresponding rates, starting from April 1983 and during the validity of the aforementioned price adjustment regime, as long as the beneficiary firms maintain their participation in the same.

The intervening authorized financial entities must verify compliance, by the beneficiary company, with the requirement demanded by Communications "A" 293 and 301, dated 17.3.83 and 12.4.83, linked to the certificate of incorporation into the price adjustment system, with the addition of the period of participation in said system, in relation to the period to which the insurance premium corresponds.

At the time of the expiration of the respective insurance contract and consequently the payment of the forward rate, the intervening entity must send to the Central Bank Form No. 3918, informing the reduction of the rate referred to in this Circular, according to the methodology that will be made known in due course. This form, which must be presented together with the respective Form No. 2600 when applicable, will enter through the Foreign Exchange Operations Department.

We salute you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC
Jorge E. Magistrelli
Manager of
Foreign and Exchange
Evarista H. Evangelista
Deputy General Manager