How to buy MEP dollars step by step (simple guide)

The MEP dollar (also called the "stock market dollar") is a legal way to buy US dollars with Argentine pesos through the capital market. Instead of buying dollars directly, you buy a bond in pesos and sell it in dollars. The result is the same: you end up with dollars in your account.

What you need

An account with a broker (ALyC) registered with the CNV, Argentina's securities regulator, or a bank that offers a "dólar MEP" option in its online banking or app. You also need a dollar account in your name if you want to move the dollars to your bank afterwards.

Step by step with a broker

1. Open the broker account. It is done online with your ID and usually takes one or two days.

2. Transfer pesos from your bank to the broker account.

3. Buy a bond in pesos. The most common ones for MEP are Treasury bonds that also trade in dollars (for example, AL30 or GD30).

4. Wait the minimum holding period required by current rules before selling (known as "parking"). Your broker will tell you how many days.

5. Sell the same bond in its dollar version (for example, AL30D). That way you receive dollars instead of pesos.

6. If you want, transfer the dollars from the broker to your dollar bank account.

From your online bank

Many banks have a "dólar MEP" button that does all these steps for you: you choose how many pesos to convert and the bank buys and sells the bond. It is simpler, although the price is sometimes slightly worse than at a broker.

Costs and things to watch

There are broker fees and market charges on both the purchase and the sale, so it is worth comparing. The MEP price changes during the day: check it before you trade. Market rules change, so always ask your broker or bank which ones apply today.

MEP or CCL?

Both are obtained with bonds. With MEP the dollars stay in an account in Argentina; with the CCL (contado con liquidación) they go to an account abroad.

This guide is for information only and is not investment advice.