Exchanging Currency

[QUOTE=TejanoLibre;433332]Got $8.97 today across the street from X at the "Tourista" Store next door to La Mad!

I said "$8.97 ? That's too much!! ".

And the guy said " I can pay you less if you'd like! ".

Then I heard that Gautlet got 9 to 1 !

Fuck! It is about to hit the fan! Or it already has!

TL.

Turismo Dalman.

Carlos Pelegrini 787.

Leather, Kitchen Magnets and Mate' Gourds!

Tourist Shit!

High-End Bus Tickets to All Over The Country Too! Same price as the Bus Terminal but a lot more convenient![/QUOTE]How late are they open?

Don B.

[QUOTE=DonB;433333]How late are they open?

Don B.[/QUOTE]It's a retail shop for Tourist on a super busy intersection but most of the retail shops seem to close at 8 pm on the street and 9 pm in the malls.

Figure 5 or 6 pm to be safe.

Just walk in and say "Tengo Dolares, me mando El Tejano Libre. ".

" I have dollars, Tejano Libre sent me.

That's just to keep him honest!

Ask for $9.00 to 1 since I just found out that a lot of people are dropping their pants for 9 bucks! Right off the bat! Hit him even higher if you want!

I had not exchanged in a week so $8.97 shocked me.

TL.

P.S. The 3 Boys that think I make a single Penny on these deals can go to Heaven! At 9 there is no room is there? Oh yeah, at $8.97 I can make $3.00 per THOUSAND u$d! Tempting isn't it? I can't even get a drink that I won't drink!

I will take that back! If it's a 60 year old single malt I will consider it since it's about $6,000.00 dollars a bottle and maybe $1000.00 dollars a shot in the USA!

Better be better than a Deluxe Rusty Trombone!

I've been studying the varoius websites that publish unofficial blue dollar rates.

Some of these published rates just don't make any sense to me.

Specifically, yesterday La Nacion published the blue dollar rates as:

DÓLAR BLUE COMPRA = 9,260.

DÓLAR BLUE VENTA = 9,300.

That's only a .5% margin.

Also, [URL]ambito.com[/URL] lists the rate as:

COMPRA = 9,300.

VENTA = 9,340.

That's only a .45% margin.

So my question is: How do these rates make any sense?

For example, if a money exchange was to utilize these rates, how could they possible stay in business on a 1/2% margin?

Thanks,

Jackson

I think it means you can take them with a pinch of salt! Neither La Nacion nor [URL]ambito.com[/URL] ARE money exchangers and nobody in the real world has ever found anyone exchanging money at the rates they publish.

As has been said many times on this forum, they're an approximate indicator of what the real exchange rates might be if you take 20-30 centavos off their published buy rates and that's about as much as should be read into them.

[QUOTE=Jackson;433344]I've been studying the varoius websites that publish unofficial blue dollar rates.

Some of these published rates just don't make any sense to me.

Specifically, yesterday La Nacion published the blue dollar rates as:

DÓLAR BLUE COMPRA = 9,260.

DÓLAR BLUE VENTA = 9,300.

That's only a .5% margin.

Also, [URL]ambito.com[/URL] lists the rate as:

COMPRA = 9,300.

VENTA = 9,340.

That's only a .45% margin.

So my question is: How do these rates make any sense?

For example, if a money exchange was to utilize these rates, how could they possible stay in business on a 1/2% margin?

Thanks,

Jackson[/QUOTE]I surely don't know finance unfortunately but I'm at the Arbolitos about 4 days a week and they try to fuck me for everything from $7 to $1 to $9 to $1 Yesterday!

At 300k USD it starts to make sense to a tiny store front that sells leather too . ( maybe ? )

My only guess is that the Blue or Black Market Boys are hedging their bets and are stuffing their mattresses with Franklins! No fucking way are they putting them in the bank, not even in their safety deposit boxes!

They are assuming that the Blue Rate is going to hit 10 to 1 and a lot more; maybe even a catastrophic crash!

Sidney, Mad Max, Toymann or Morgando should know something solid!

I'm not complaining about 9.3 though!

Gold may drop to 1200 so I'm thinking Sell now and Buy later when it gets stupid again!

I only know the price of pussy and it's higher than Giraffe Pussy these days!

TL.

You can win 80% cash per day. Buy at 5.1 sell at 9,2.

One day they 'll wiki-leak the list of senators or congressmen who "suddenly" became rich.

Pussy-price in Thelmo or Mburucuya staying stable (for spassi).

600 P.S. TLN.

Yes we can

[QUOTE=Spassmusssein;433348]You can win 80% cash per day. Buy at 5.1 sell at 9,2.

One day they 'll wiki-leak the list of senators or congressmen who "suddenly" became rich.

Pussy-price in Thelmo or Mburucuya staying stable (for spassi).

600 P.S. TLN.

Yes we can[/QUOTE]80% is EXCELLENT!

And I guess the price of Pussy ALL depends on where one might hang-out!

I take guys to the tourist traps because they are looking for that level but I prefer the Local Race Track myself!

TL.

[QUOTE=DavieW;433345]As has been said many times on this forum, they're an approximate indicator of what the real exchange rates might be if you take 20-30 centavos off their published buy rates and that's about as much as should be read into them.[/QUOTE]My thinking is that the delta would probably be better expressed as a percentage as opposed to "20-30 centavos", which in itself looses accuracy with inflation.

As nearly as my preliminary observations can determine, the difference is somewhere between 2% and 4% of of the published (and largely speculative) rates on the websites.

The question is which one of the websites offers the most accurate base rate from which to discount.

Bueller? Bueller?

Thanks,

Jackson.

[QUOTE=Jackson;433350]My thinking is that the delta would probably be better expressed as a percentage as opposed to "20-30 centavos", which in itself looses accuracy with inflation.

As nearly as my preliminary observations can determine, the difference is somewhere between 2% and 4% of of the published (and largely speculative) rates on the websites.

The question is which one of the websites offers the most accurate base rate from which to discount.

Bueller? Bueller?

Thanks,

Jackson.[/QUOTE]Feris Bueller's Quotes?

Or the retaurants on Lavalle that were kind enough to offer us $5.13 to $1 for dinner?

That was funny!

TL.

At Jackson:

Above website gives me the best handle on rates.

The blue ask is the key rate, a good cueva will give maybe 15 centavos south of the ask on $1000 plus in hundreds, if you're selling Pesos maybe 15 centavos north.

http://www.dolarblue.net


[QUOTE=Jackson;433350]My thinking is that the delta would probably be better expressed as a percentage as opposed to "20-30 centavos", which in itself looses accuracy with inflation.

As nearly as my preliminary observations can determine, the difference is somewhere between 2% and 4% of of the published (and largely speculative) rates on the websites.

The question is which one of the websites offers the most accurate base rate from which to discount.

Bueller? Bueller?

Thanks,

Jackson.[/QUOTE]

[QUOTE=Jackson;433350]My thinking is that the delta would probably be better expressed as a percentage as opposed to "20-30 centavos", which in itself looses accuracy with inflation.[/QUOTE]Got 9.30 today with [URL]ambito.com[/URL] saying 9.60.

I know that what you're saying makes sense Jackson, but I've been seeing the 20-30 centavo delta since the rate was about 4.20.

I used to work for a currency trading firm and was chatting with a former colleague about the behavior Davie and Jackson are observing, where the nominal spread is remaining constant but the percentage spread is narrowing. He said it was volume-related; there has been more active trading in the Argie pesos and so economies of scale have driven down the percentage spread. At the higher or wholesale trading levels, the liquidity is better as the trade is more popular, and the spread narrows.

This guy went to MIT so I only 85% understood him but it makes sense on an Econ 101 type level. Oh yeah, and he also said his current firm is following a "daily short" strategy with Argentina where they close out their short position in the peso every night. He said that leads to somewhat higher trading costs but that the risk of an overnight blow-up is more than they want to risk. Basically they are re-assessing the country risk every single day.

It's simple. It's all about offer and demand. You have to realize it's the other way around to what you as foreigners perceive. The market is dictated by Argentines buying US $ not the how much anyone gets for his Dollars. Today we closed at 9.60/9.63. The demand for Dollars pushed the price to 9.60 while the lack of sellers narrowed the difference to 3 cents.

When the central bank had reserves it just dumped a pile of greenbacks on the market so the price dropped. Today it doesn't have reserves so it can't regulate the price. Another variable were the exporters (farmers). When they sold their crop they also flooded the market with Dollars. Today they are so controlled by the government they keep their real money in offshore banks bringing only the minimum they can't get away with into the country as hard cash.

Cancelling foreign debts is another variable but the government's attitude is "F-you. You are the one loosing sleep over money that you probably will never see again." So the sanctions that may or not come in the future aren't relevant at this moment.

You guys exchange at little trinket or leather stores where they may see at the most a few hundred Dollars a day so they (have to) offer as low as they can to sell as high as they can thus making a little profit but the big traders are buying and selling BY THE KILO. A million Dollars in C notes is 1 kilo 100 grams.

The preferred currency for getting the money out of the country is the Euro. The 500 hundred note weighs much less.

Excuse the ignorance of my question. Are we to bring ben franklin notes down in our underpants and exchange them in microcentro? Whatabout the fear of them argies handing over to us counterfeit AR pesos??

Thank you.

Jaggar.

Think the Blue market is bigger than I ever imagined: $100 million a day in Buenos Aires.

[URL]http://www.cronista.com/contenidos/2013/05/03/noticia_0005.html[/URL]

[URL]http://translate.google.com/translate?u=http%3A//www.cronista.com/contenidos/2013/05/03/noticia_0005.html&hl=en&langpair=auto|en&tbb=1&ie=UTF-8[/URL]

[QUOTE=Jaggar;433402]Excuse the ignorance of my question. Are we to bring ben franklin notes down in our underpants and exchange them in microcentro? Whatabout the fear of them argies handing over to us counterfeit AR pesos??

Thank you.

Jaggar.[/QUOTE]We go to the same exchange house of choice all the time and for many years for some of us so it's not worth it for them to do that.

Go with someone that knows where to go.

TL.

[QUOTE=Jaggar;433402]Excuse the ignorance of my question. Are we to bring ben franklin notes down in our underpants and exchange them in microcentro? Whatabout the fear of them argies handing over to us counterfeit AR pesos??

Thank you.

Jaggar.[/QUOTE]Understand someone's skepticism and fear. Follow TL's advice and tip the guy a few bucks. A small price to pay for a sure thing. Don't get greedy. The market is so volatile things change as we speak. And the idea of stuffing Benjis in your britches is crazy. Be guarded and careful. One place where I change currency is an armed camp. Feel safer there than about anywhere in BA. Been doing it for years and notta problem ever. Blue Market is quite sophisticated. Have seen suitcases come and go from the little rooms. My paltry sum is chump change. Enjoy the life and thank Cristina for pessification.

[QUOTE=Damman;433407]Understand someone's skepticism and fear. Follow TL's advice and tip the guy a few bucks. A small price to pay for a sure thing. Don't get greedy. The market is so volatile things change as we speak. And the idea of stuffing Benjis in your britches is crazy. Be guarded and careful. One place where I change currency is an armed camp. Feel safer there than about anywhere in BA. Been doing it for years and notta problem ever. Blue Market is quite sophisticated. Have seen suitcases come and go from the little rooms. My paltry sum is chump change. Enjoy the life and thank Cristina for pessification.[/QUOTE]No need to tip anyone, if I'm not doing anything we can go and talk to 3 or 5 exchange houses and you can make your own choice.

7 days a week.

Daddy might help if he has time too. A lot of guys will help you.

TL.

[QUOTE=TejanoLibre;433408]No need to tip anyone, if I'm not doing anything we can go and talk to 3 or 5 exchange houses and you can make your own choice.

7 days a week.

Daddy might help if he has time too. A lot of guys will help you.

TL.[/QUOTE]I'm not going to walk downtown and check out the houses everyday for nothing no time for that. I normally change money once or twice a week. I use one of two places depending on the amount. For small amounts when it's just my money I go to the chino in the galeria across from Acapulco Resto on Lavalle. If I have more than 500 bucks to change (I never change that much at one time myself due to the upward trend) I go to my guy on Florida across from Galaria Pacifico.

The chino gives me a better rate but I don't trust him as much, it's in a leather shop and anybody walking through the galaria can watch you check the money which I do, every bill, every time. The guy on Florida is usually .1 behind the chino but it's a private office. I've stopped checking him for the most part and would be very surprised if he ever passed me fake money.

I'll try and remember to post here the day before I go and anybody who wishes may come along. (no charge, but an offer of a coffee is rarely turned down) If you want me to make a special trip with you I'll do it for 50 bucks an hour. (US) Yeah that's way too much fucking money to do this but don't give me any shit about it, I really don't want to do it so if I have to drag my ass out of the house to accomodate you it will cost you an arm and a leg.

[QUOTE=DaddyRulz;433409]I'm not going to walk downtown and check out the houses everyday for nothing no time for that. I normally change money once or twice a week. I use one of two places depending on the amount. For small amounts when it's just my money I go to the chino in the galeria across from Acapulco Resto on Lavalle. If I have more than 500 bucks to change (I never change that much at one time myself due to the upward trend) I go to my guy on Florida across from Galaria Pacifico.

The chino gives me a better rate but I don't trust him as much, it's in a leather shop and anybody walking through the galaria can watch you check the money which I do, every bill, every time. The guy on Florida is usually .1 behind the chino but it's a private office. I've stopped checking him for the most part and would be very surprised if he ever passed me fake money.

I'll try and remember to post here the day before I go and anybody who wishes may come along. (no charge, but an offer of a coffee is rarely turned down) If you want me to make a special trip with you I'll do it for 50 bucks an hour. (US) Yeah that's way too much fucking money to do this but don't give me any shit about it, I really don't want to do it so if I have to drag my ass out of the house to accomodate you it will cost you an arm and a leg.[/QUOTE]I'll do it for $49.00 !

Joking but sounds good!

I usually go about 4 days a week and it's just down the street so it's no big deal.

TL.

Told you somebody here is usually willing to help out one of the Boys!

Two jars of Jiffy peanut butter will get you about anything you wish from these two guys. Throw in a pound or two of coffee and the world is yours.

9.35 today for $1000, ($100 bills).

[QUOTE=Damman;433413]Two jars of Jiffy peanut butter will get you about anything you wish from these two guys. Throw in a pound or two of coffee and the world is yours.[/QUOTE]Don't forget about maple syrup!

[QUOTE=Gandolf50;433419]Don't forget about maple syrup![/QUOTE]I think I know where there is a bunch of Maple Syrup and Pancake Mix! The Real Stuff and likely to want to sell it.

Maybe 80 bags of mix!

Gallons of syrup.

TL.

Got 9.40 today on Arenales, changing only $200. At the rate this is going, I cannot see changing more than a couple of Bens at a time.

Hi Folk!

I am not sure but does Xoom allow one to receive US Dollars in BA, or do they hold you hostage to a rate below the BLUE?

Thanks in advance.

Jaggar.

[QUOTE=Jaggar;433424]Hi Folk!

I am not sure but does Xoom allow one to receive US Dollars in BA, or do they hold you hostage to a rate below the BLUE?

Thanks in advance.

Jaggar.[/QUOTE]Xoom is paying $8.35 today and it's ALWAYS in Pesos. They close at 1 pm on Sat and closed all day on Sun.

M-F they close at 6 pm I think. Impossible to xoom yourself a load today. Maybe?

Uruguayan ATMs pay out in dollars, 1 to 1 .

TL.

[QUOTE=TejanoLibre;433426]Xoom is paying $8.35 today and it's ALWAYS in Pesos. They close at 1 pm on Sat and closed all day on Sun.

M-F they close at 6 pm I think. Impossible to xoom yourself a load today. Maybe?

Uruguayan ATMs pay out in dollars, 1 to 1 .

TL.[/QUOTE][quote]Saturday, May 4th 2013 - 04:18 UTC

Dollar in Argentina ‘brushes’ 10 Pesos; urgent meeting of Cristina Fernandez economic cabinet

For a third consecutive day the ‘blue’ dollar which trades in Argentina’s informal market established a new record and after having brushed 10 Pesos in earlier trading finally closed Friday at 9.84 (buying price) and 9.88 (selling price) Pesos.

Banker Federico Sturzenegger, the situation is untenable.

Vice-president Amado Boudou: “speculative activities from 100 or 200.000 people”

This means the price of the greenback in Argentina’s informal market, as people flock to get rid of their local currency, has soared 44 cents in a week and the gap with the ‘official’ rate which ended trading on Friday at 5.20 Pesos selling price, has reached 90%.

“There are plenty of buyers, but people wanting to sell dollars are scarcer and scarcer. Nobody wants to get rid of the dollars in Argentina, not even tourists”, said Buenos Aires city financial quarter money traders.

“Despite the rain we’re literally flooded with demands for dollars and we have been forced to work on weekends. Because of inflation, people collect their salaries and rush to turn them into foreign currency”, added the money traders.

“The blue keeps increasing because it’s the lifesaver for those wanting to get out of Pesos” said Javier Gonzalez Fraga, a former president from the Argentine Central bank.

With the latest advance, the ‘blue’ dollar in Argentina has ballooned 44.49% since the beginning of the year, while the official rate has only increased 5.5%. The rush on the dollar is reflected in the Central bank’s international reserves which lost 911 million last month and now stand at 39.535 billion, which is the lowest in six years.

The situation called for an urgent meeting at midday convened by President Cristina Fernandez and the cabinet chief Juan Manuel Abal Medina together with Economy minister Hernan Lorenzino, Deputy minister Axel Kicillof, Domestic Trade Secretary Guillermo Moreno, the president of the Central bank, Mercedes Marcó del Pont and the head of the tax revenue office Ricardo Echegaray.

Ms Marcó del Pont who was scheduled to open a central bank conference on the international crisis had to suspend her attendance and rush to Government House.

People fear the Argentine government might decide to create a two tier system with weekly or daily auctions of dollars, similar to what has been implanted in Venezuela, which also bans the holding or hoarding of US dollars.

“The government of President Cristina Fernandez has put itself into a trap, at some point it will have to do something: the mismatch between the two markets in untenable. Two more years of this and manufacturing will be devastated: Argentine industry has lost 30% to 40% of competitiveness in the last three, four years”, said Federico Sturzenegger, president of the Buenos Aires City bank.

However Vice-president and economist Amado Boudou stressed the “blue” dollar phenomenon is connected to speculative activities of “not more than 100 or 200 thousand people” while “the government works for 40 million Argentines”.

“The official foreign exchange policies aim at having an exchange rate which is competitive for exports but also inclusive for consumption,” he added.

“Some may want a higher exchange rate, others a lower one, but the government must work for 40 million Argentines” Boudou added. He said “prices are not raised by the government” and defended the “controls” President Cristina Fernández is implementing to “look after the people’s pockets.”

Likewise lawmaker Roberto Feletti from the ruling coalition admitted the government is having trouble offering options to promote Peso savings.

“We are in a process toward the promotion of Peso savings with different instruments we are having trouble putting forward,” the former Economy Deputy minister added.

Referring to the ‘rush’ on the dollar he said that according to Central Bank figures, in 2011, “when the exchange market was open, only 12% of the population had dollar savings”.

Feletti questioned some business groups that “seek an abrupt devaluation to benefit their businesses”. He added “they are putting pressure on the government to destabilize it and force an exit”.[/quote]Looking Bad!

TL.

Tejano Libre, you share valuable advice with newbies like me.

I plan on doing something nice for TL when arriving and urge fellow members here to also show TL some gratitude when arriving.

(Otherwise this source may be lost).

Tejano Libre, do you advise xooming to a Uruguay bank funds? If so...

1. How long a travel from BA to Uruguayan bank of choice?

2. How much willxooomoffer per day (USD) ?

Later,

Jaggar

[QUOTE=Jaggar;433465]Tejano Libre, you share valuable advice with newbies like me.

I plan on doing something nice for TL when arriving and urge fellow members here to also show TL some gratitude when arriving.

(Otherwise this source may be lost).

Tejano Libre, do you advise xooming to a Uruguay bank funds? If so...

1. How long a travel from BA to Uruguayan bank of choice?

2. How much willxooomoffer per day (USD) ?

Later,

Jaggar[/QUOTE]Xoom yourself less than $2999.99 DOLLARS per day and pick-it up in Colonia, Uruguay.

The current exchange rate , as we speak is, $200.00 u$d the equal $3702.00 pesos but my thoughts are for you to use an American Banking Card that has affiliates in Uruguay so you just stick in the card and yank out dollars at 1 to 1 . Close enough.

The Hover Craft, actually Catamaran can get you there in a long hour but then you have to kill time for the day! Take a Chica so she can bring back a few stacks for you too; just keep them chained to your dick.

Or take me I'm bored !

So Uruguay is 1 to 1 but if you bring dollars to BA you may get 10 to one soon!

Keep in touch.

TL.

Staying 20 km away from Buenos Aires, I asked my host how to change my dollars. He phoned a guy who delivered the pesos within one hour at 9.80 for a dollar against 9.81 on blue dollars websites. Quick, fairly safe and excellent rate.

If any one knows any one (most likely a Argentino) who needs dollars some where "outside" for pesos here (Buenos Aires) send me a PM. Thanks.

[QUOTE=Gandolf50;433472]If any one knows any one (most likely a Argentino) who needs dollars some where "outside" for pesos here (Buenos Aires) send me a PM. Thanks.[/QUOTE]

Bad Idea ! 12345 1

[QUOTE=TejanoLibre;433483]Bad Idea ! 12345 1[/QUOTE]Actually its a great idea, I have been doing it for a while now. They pay over the going rate if they need the money and you can put it where they need it. My problem is my current "clients" don't need any dollars right now.

I was wondering, any chance to get the blue rate at Ezeiza airport upon arrival?

Thanks!

[QUOTE=FunPete;433496]I was wondering, any chance to get the blue rate at Ezeiza airport upon arrival?

Thanks![/QUOTE]No way, as far as I know.

[QUOTE=FunPete;433496]I was wondering, any chance to get the blue rate at Ezeiza airport upon arrival?

Thanks![/QUOTE]Maybe if someone is stuck with a bunch of toilet paper on the way out?

TL.

Fred will have some to spare !

On another note (s) a friend of ours has about 150k in dollars per month that he needs to convert.

PM me .

Received 9.80 today on Arenales, changing $200 USD.

Any regulars who personally know me, who have some greenbacks left over from a trip or are coming down and can bring some please PM me. Thanks.

I apologize profusely in advance if this has been answered already, but I haven't found a post with a clear-cut answer yet.

I'm extending my trip to Buenos Aires by six months, and I need to get dollars from my US account. Since I will be going to Colonia to renew my visa, I plan on picking up dollars there.

The problem is that my credit union severely limits what I can take out of an ATM daily.

Is it possible to wire dollars to a bank and withdraw them? Or use something Western Union? Or will the money automatically be converted to Uruguayan Pesos?

There's some talk about using xoom in the forums, but I'd rather stick to traditional methods and companies with a solid reputation. However if xoom turns out to be the best option, I would open to using it.

And if anyone has any other ideas on how to get dollars from my account to Uruguay, I would like to hear them. Thanks.