Argentina's central bank launches dollar salary accounts for workers

The Banco Central de la República Argentina has approved the opening of salary accounts in US dollars, allowing companies to deposit workers' wages in foreign currency. The regulatory amendment brings the banking system into line with the 2023 Labor Modernization Law (Law 27.802), which permits payment of salaries in either national or foreign currency.

The new accounts are free to open and maintain, and transfers related to salary deposits incur no fees. Firms are not required to pay in dollars; adoption will depend on agreements between employers and employees and on companies' access to foreign exchange, making the measure most useful for businesses that receive income in dollars and workers who prefer to receive wages in that currency.