October 26th 2023
The Government has issued a decree
Dear Sirs,
The Government has issued a decree (549/2023) whereby service providers “must” start using a double tier exchange rate when invoicing services.
Up until now services were calculated basis the official exchange rate, now standing at USD 1.00 = Pesos 365.00.
This is for services rendered from Monday October 23rd and is valid until next November 17th but may be extended after the second round of the presidential election to be held on Sunday, November 19th.
The applicable exchange rate will be calculated on the following basis:
70 per cent of the value of the invoice/service “must” be applied basis the official exchange rate (USD 1.00 = Pesos 365.00)
The remaining 30 per cent of the value of the invoice/service “must” be applied basis the “Financial” exchange rate (USD 1.00 = Pesos 890.00)
The “Financial” exchange rate is a floating rate which varies daily.
Currently this is applied to towage, pilotage, and boat services.
Shortly we will be getting back to you with details of the effect this has on tariffs.
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
For more information