Exchanging Currency

[QUOTE=Paladin;431515]The currency will continue to devalue [strike]against the dollar until it becomes apparent that CFK cannot have a third term.[/strike] If the same economic team stays in place that has exhibited total incompetence in managing an emerging economy, then there will continue be a flight of capital. The embarrassment of the [strike]IMF sanctions[/strike] credit rating downgrade will be downplayed locally while the world looks on in disbelief at the incompetent management of the [strike]Argentine[/strike] US economy. Some one must finally say that the "emperor has no clothes" [strike]CFK[/strike] Obama is all show and no go and his sycophants are uneducated or delusional ideologues with utopian ideas that were discounted 60 years ago. [strike]Argentina[/strike] The USA is caught in a time warp with no foreseeable away out of this economic quagmire. Social programs are great if you have the money to pay for them. You see absolutely no real effort to stimulate the economy. There is a government acceptance of underemployment and no incentive to educate the [strike]Argentine[/strike] American youth for the 21st Century economy. Giving an uneducated [strike]16[/strike] 18 year-old the right to vote is not the same as giving him / her a relevant education. You might gain votes but ultimately your country goes into the shitter even more.[/quote]All I had to do was change the names and it's now a story about the USA.

Ok Jackson! Touche! But I will forgive you because you are such a good guy and I do not want to be blackballed from the Mansion. Jajaja.

[QUOTE=Jackson;431522]All I had to do was change the names and it's now a story about the USA.[/QUOTE]

The world to come apart. Europe, America or South America. We need to go together. We are one family.

[QUOTE=Sibiola;431545]The world to come apart. Europe, America or South America. We need to go together. We are one family.[/QUOTE]First he wants to bring Lunita to America for porn, now this foolishness. Where is the moderator. LOL. This guy needs to go. My dos centavos. Toymann

Damn! It was definitely a bubble. I couldn't change any dollars last week because I didn't have any. Got paid today and got 7. 57 and they told me they were giving 7. 86 at the peak. They reckon it may have already bottomed out though and we should go back to the usual steady rise from here.

[QUOTE=DavieW;431581]Damn! It was definitely a bubble. I couldn't change any dollars last week because I didn't have any. Got paid today and got 7. 57 and they told me they were giving 7. 86 at the peak. They reckon it may have already bottomed out though and we should go back to the usual steady rise from here.[/QUOTE]What did the bible say about the money-changers?

Christina is extorting grocery chains into "voluntary" price controls for sixty days and we are told this was the bottom?

FYI, a non-monger buddy of mine told me he was getting something around 8. 2:1 on Florida, within the past two weeks.

Economies are like battleships, it is pretty easy to see when they are turning. Take for instance the US economy which has yet to turn since 2008.

I don't see anything in the economic forecasts that would make me thing think that Arg is past the peak of any bubble or that they are in any sort of bubble. What are tehy going to do about that pesky 30% inflation thingy? The FOREX (official and blue) rates will fluctuate, however they are dictated by other economic factors (specifically Argentinian relative to US and EU factors). Were it not for the US and EU economies being in the crapper, we'd have seen 10:1, long ago (I predict 10:1 won't be the bottom).

I'd strongly recommend holding dollars until you start the foreplay, before exchanging them for pesos.

BTW, CFK's prospects for winning reelection in the midst of this sh*tty economy are about the same as they were for a US president winning with rampant unemployment, 50 million plus on food stamps and absolutely no recovery four years into the recession. The similarities (especially the rampant corruption) couldn't be more clear.

[QUOTE=DavieW;431581]Damn! It was definitely a bubble. I couldn't change any dollars last week because I didn't have any. Got paid today and got 7. 57 and they told me they were giving 7. 86 at the peak. They reckon it may have already bottomed out though and we should go back to the usual steady rise from here.[/QUOTE]The rate only went down for a few days because pro Cristina traders sold a bunch of Dollars to try and close the gap between official and blue rates. The government is desperately trying not raise the official rate even though many government officials now have confessed that the official rate should be 6 to 1.

Was at 520 ave corrientes wednsday and got $7. 50 to one, walk in ask what they are paying, exchange and leave no fuss no muss, open on saturdays too was there. Been exchanging for 10 years and never got a bad bill. Hope it helps

Yesterday I exchanged at 1 to 7. 9 here in Santa Cruz, Bolivia. In 10 days I'll arrive in BA where I will stay for three months. From the rates that I see folks mentioning here, it seems that the exchange rate in BA will probably soon improve and therefore it would be better to bring dollars and exchange them into pesos in BA. Any thoughts? Thanks.

Scalabrini Ortiz and Cerviño 7.45 Today (Feb. 7) Around Noon:30 for US$440. They were OK with 2 50s and 2 20s. I don't know if that might have affected the rate.

Bob

I was quoted the same rate in the same location a few hours later, though they upped it to 7. 5 for $1, 000 USD. They wouldn't go higher for $2, 000, though I should've pressed harder.

FYI, I exchanged $2, 000, which included twenty $20 bills. They didn't so much as bat an eye (of course, there were also sixteen $100 bills, so that might have been enough to have made them overlook the twenties).

The rate (s) they quoted me were before they knew what bills I had, so the inclusion of twenties did not affect the rate whatsoever.

[QUOTE=AllIWantIsLove; 431597]Scalabrini Ortiz and Cerviño 7. 45 Today (Feb. 7) Around Noon:30 for US$440. They were OK with 2 50s and 2 20s. I don't know if that might have affected the rate.

Bob[/QUOTE]

At a Recoleta cueva. For 1k USD.

520 Corrientes, after my hassle free exchange, I was offered an air conditioned private cubicle with a calculator to count and inspect my new stack of pesos, when I was done I walked out of the cubicle said Hi to the Police officer there, then went and had a great steak, impressive operation!

Can any of you please suggest safe places where I can get a good exchange rate near to Arroyo 841.

Thanks

[QUOTE=Mpexy;431632]At a recoleta cueva. For 1k USD.[/QUOTE]Getting fucked at Xoom at 7.19 to 1 but I have no choice.

TL.

Bring Dollars and exchange here Boys.

Been getting 7.5 for a few hundred at Western Union. Florida & Lavalle. As of yesterday.

7.5 today at 10:10 am, didn't matter if changing $500 or $1000.

I am about to head to B A and was at a western Union cambio in Sydney and the guy tell me a lot of people are buying pesos on the black market and selling them in Sydney at the official rate Anyone tried this? Seems like it could be a good earner. He did say that the pesos needed to be in pristine condition.

[QUOTE=Lionadwc;431809]I am about to head to B A and was at a western Union cambio in Sydney and the guy tell me a lot of people are buying pesos on the black market and selling them in Sydney at the official rate Anyone tried this? Seems like it could be a good earner. He did say that the pesos needed to be in pristine condition.[/QUOTE]I'm amazed! For quite sometime you haven't been able to unload unused pesos in the States when you return. The exchange houses just don't want them.

To answer your question, absolutly this would be a good earner, you can buy pesos here for 7.3- 7.5 to the dollar and if you can sell them there for 5 ish (or whatever the Oz dollar is going for) that's quite a return. I would make good and damn sure that you could sell them in Sydney though. You might find yourself with a lot of expensive toilet paper once you return to Oz.

Not saying don't do it, just saying be careful.

FYI. Today I exchanged $1,000 at 7.55 at Scalabrini Ortiz & Cervino. No hassles and the fellow waited while I re-counted. Easy as pie.

7.6 Today at the Western Union.

Hi, what are the chances of getting new pesos in these cambios, and is it worthwhile going for large amounts in one fell swoop, e.g. 6,000 US?

[QUOTE=Lionadwc;432055]Hi, what are the chances of getting new pesos in these cambios, and is it worthwhile going for large amounts in one fell swoop, e.g. 6,000 US?[/QUOTE]I wouldn't though, that's a lot of cash to have on hand, the exchange is going up (7.6 today, 7.7 in a couple days ect. Personally I wouldn't change more than 500-1000 unless you have some big planned expenditure or are the kind of person that never leaves the house and just gets chicas that do delivery. Also it would be a pain in the ass to check that many bills at one time and everybody near the cambio would see you checking a never ending amount of pesos.

Unless you have a reason for wanting some of the new pesos I have heard (from the guy at the Arenales house) that there are places (their house) that won't take them. Though to be fair, I haven't heard that from anybody else except him.

[QUOTE=Lionadwc;432055]Hi, what are the chances of getting new pesos in these cambios, and is it worthwhile going for large amounts in one fell swoop, e.g. 6,000 US?[/QUOTE]I haven't gotten any new of the bills yet. Personally I wouldn't change that much at a single time, a little too dangerous to carry that much on your person, plus the rate is ever changing but right now seems to be moving upwards...

That was for $400 US. Three 100s and two 50s, although I doubt that the 50s changed the rate. (He wouldn't take the 200 dollar bill.)

Bob

Hi Guys,

I used to be a regular visitor in the early 2000 s and am contemplating a visit in a few weeks. I checked online and the rates are about 5 pesos to a dollar, yet all the posters here mention a rate in excess of 7. What gives?

[QUOTE=DashingDon;432094]Hi Guys,

I used to be a regular visitor in the early 2000 s and am contemplating a visit in a few weeks. I checked online and the rates are about 5 pesos to a dollar, yet all the posters here mention a rate in excess of 7. What gives?[/QUOTE]A friend of ours got 7.77 today but he moves a lot of dollars on a regular basis.

I can maybe get you 7.60 but I never know what's going to happen.

Anything over 7.5 is worth while.

TL.

[QUOTE=DashingDon;432094]Hi Guys,

I used to be a regular visitor in the early 2000 s and am contemplating a visit in a few weeks. I checked online and the rates are about 5 pesos to a dollar, yet all the posters here mention a rate in excess of 7. What gives?[/QUOTE]5 pesos to 1 dollar is the official exchange rate. That's the exchange rate when withdrawling money from ATM and using US credit card. 7 plus to one is the unofficial exchange rate (blue rate). That's what you get when exchanging cash at the unofficial exchange places in the city. They are called cueva (cave) . They are officially illegal, but so is prostitution in Argentina. So take that for what it's worth.

[QUOTE=Sportsman;432099]5 pesos to 1 dollar is the official exchange rate. That's the exchange rate when withdrawling money from ATM and using US credit card. 7 plus to one is the unofficial exchange rate (blue rate). That's what you get when exchanging cash at the unofficial exchange places in the city. They are called cueva (cave) . They are officially illegal, but so is prostitution in Argentina. So take that for what it's worth.[/QUOTE]Seems all my posts lately start flame wars and I'm hoping this doesn't. Prostitution isn't illegal here, pandering is, but not prostitution. Also the blue rate is what cuevas are changing money for, Joe Schmo on the street is going to get a little lower than blue for 50's and 100's, slightly less for 20's.

Thanks for that, Sportsman. I had no idea about the unofficial / official rates.

I first visited Argentina in '96 and it was one peso for one dollar. Very expensive. Then, in the early 2000's, the ISG was on fire about BA and the financial crisis and whatnot. It was 4 pesos to the dollar but no unofficial rate and girls were hooking all over. A guy by the name of Saint posted great reports and tons of guys went down there and we all had a lot of fun. Jackson used to organize the 'Clarin parties' etc and we'd go to steakhouses in the evenings.

At the risk of being told to read 8 years of trip reports, what is the scene like now? Cheap steaks and casa hookers? Is Jackson still in that apt across from the cemetary? I haven't been or read about the scene in 8 or so years. I'm looking to arrive in mid April. Is it just for millionaires now?

I will be in BA in a few weeks and have always bought pesos at official change houses. How do you know if you are getting counterfit pesos or the real deal at a cueva?

[QUOTE=Shortguy;432127]I will be in BA in a few weeks and have always bought pesos at official change houses. How do you know if you are getting counterfit pesos or the real deal at a cueva?[/QUOTE]We just always go to the same places once we find a decent rate. The difference between the official rate and the black market makes it a worthwhile gamble.

Good Luck,

TL.

Heard $7.77 yesterday.

So why can't I spend a day going back and forth between the unofficial and official cambios and have enough pesos for my trip and go home with more dollars than I came with?

What goes wrong and lands me in jail?

[QUOTE=DashingDon;432110] Is Jackson still in that apt across from the cemetary? I haven't been or read about the scene in 8 or so years. [/QUOTE]New Jackson is a multi-milionaire now. He owns many businesses in many different industries and lives in a posh mansion. He is, what success stories are made of. Everything has changed. Welcome back to BA.

[QUOTE=DonB;432154]So why can't I spend a day going back and forth between the unofficial and official cambios and have enough pesos for my trip and go home with more dollars than I came with?

What goes wrong and lands me in jail?[/QUOTE]You're missing the point. The reason the "unofficial cambios" pay more for USD is because it's the only way to get USD in Argentina. You can't exchange Argentina Pesos for Dollars. Argentina Pesos are not worth anything outside of Argentina. All those kiosks at the airport that exchange currency, they won't take your leftover pesos either.

[QUOTE=Shortguy;432127]I will be in BA in a few weeks and have always bought pesos at official change houses. How do you know if you are getting counterfit pesos or the real deal at a cueva?[/QUOTE]Always check your bills before you leave. Fake bills are easy to spot. Real bills have a reflective metal strip. If you hold a real bill up to the light you will see a watermark of some guys face. It is very easy to spot a fake bill if you just take 1 second to look.

[QUOTE=DonB;432154]So why can't I spend a day going back and forth between the unofficial and official cambios and have enough pesos for my trip and go home with more dollars than I came with?

What goes wrong and lands me in jail?[/QUOTE]If a person could get all the dollars he wanted to exchange for pesos, there would be no black market. That is an oversimplification, but enough to answer the question.

Tres3.

[QUOTE=DonB;432154]So why can't I spend a day going back and forth between the unofficial and official cambios and have enough pesos for my trip and go home with more dollars than I came with?

What goes wrong and lands me in jail?[/QUOTE]Because to trade pesos back to dollars at a "official" casa de cambio or bank you need the receipt showing that you you traded dollars for pesos to begin with "at the official rate" . They are stupid, but not that stupid.