Circular Foreign Exchange Operations and Movements of Funds and Securities with the Abroad - CAMEX 1 - 28

CENTRAL BANK OF THE ARGENTINE REPUBLIC
COMMUNICATION "A" 162 15/07/82
TO FINANCIAL ENTITIES AUTHORIZED TO OPERATE IN FOREIGN EXCHANGE AND FOREIGN EXCHANGE BROKERS:
Ref: Circular FOREIGN EXCHANGE OPERATIONS AND MOVEMENTS OF FUNDS AND SECURITIES WITH THE ABROAD - CAMEX - 1 - 28

We address ourselves to you and through you to the interested parties to inform you that, as a complement to the provisions made known by Telephone Communication No. 4666, Communication "C" 274 of 7.7.82, it has been decided to facilitate local debtors, whose requests for payment abroad of Argentine imports had been presented and entered into the Central Bank by 2.7.82, to choose between the payment method provided for in the aforementioned Telephone Communication or the one detailed below:

1. Local debtors may make remittances abroad in foreign currency, adjusted to the general rules in force, at an exchange rate of $ 15.750 per US dollar or its equivalent in other currencies, provided that simultaneously they enter an external loan in the form of a swap for an amount in foreign currency not less than that transferred abroad.

2. The swap operation will be arranged in accordance with the provisions made known by Communication "A" 136 of 5.7.82 and at the exchange rate that this Bank applies for such operations by virtue of what is provided by Telephone Communication No. 4670 of 12.7.82, Communication "C" 283.

3. Those interested in exercising the option referred to in point 1 must present, by August 16 next, the corresponding swap request on Form 4008 F, clearly stating the legend "Communication "A" 162" and indicating the number of the request to remit foreign currency, entered into the Central Bank by July 2, 1982, inclusive. In the event that Form 3687 has been presented to subscribe to External Bonds, the request on Form 4008 F to request the arrangement of the swap operation must mention the number assigned to the aforementioned Form 3687, for its cancellation.

We salute you very attentively.
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Antonio E. Conde Evaristo H. Evangelista
Main Manager General Deputy Manager