Exchanging Currency

[QUOTE=Thomaso276;446567]Yes, plenty on Florida.[/QUOTE]Some of you may know or surely have seen or noticed Victor on the corner of Florida and Marcelo T de Alvear.

He has been there for about 10 years and he is wheelchair bound.

Today I just happened to be walking past him and I was looking for a quick and decent exchange rate but it was a national holiday and I only had a few bucks to exchange.

He gave me $14.60 to 1. Good enough. I had just finished a walking tour of BA and we had walked about 8 miles.

I'm sure you could find a better rate but it was a tiny amount and when I talked to him and thought about his situation I could not think of a more deserving individual.

He gave me the pesos and I told him that I didn't even need to count it but he insisted.

He had overpaid me. Of course I gave him the difference and asked him for his Whatsapp info.

Victor the Cambio Guy.

+54911 3604 1677.

Florida and Marcelo T de Alvear .

7 days a week .

In a wheelchair for life.

Thanks ,

TL.

Unless he has backtracked incoming president Mecri has stated that he will remove restrictions on foreign currency purchases. My thoughts have been that this will increase the pesos to the dollar at the official rate. So what happens to the blue rate. I'm wondering if the official rate shows a dramatic increase in pesos to dollars and the blue rate initially stays the same but their goal is to bring the two rates closer together and eventually have the two rates the same.

[QUOTE=HotRod11;446574]Unless he has backtracked incoming president Mecri has stated that he will remove restrictions on foreign currency purchases. My thoughts have been that this will increase the pesos to the dollar at the official rate. So what happens to the blue rate. I'm wondering if the official rate shows a dramatic increase in pesos to dollars and the blue rate initially stays the same but their goal is to bring the two rates closer together and eventually have the two rates the same.[/QUOTE]There's a lot of discussion about this on that thread. I honestly don't think anybody knows at this point.

[QUOTE=HotRod11;446574]Unless he has backtracked incoming president Mecri has stated that he will remove restrictions on foreign currency purchases. My thoughts have been that this will increase the pesos to the dollar at the official rate. So what happens to the blue rate. I'm wondering if the official rate shows a dramatic increase in pesos to dollars and the blue rate initially stays the same but their goal is to bring the two rates closer together and eventually have the two rates the same.[/QUOTE]I believe his plan is putting it very simply is to allow the official rate to match the blue rate (official goes up a lot and the blue down a little??) making ONE exchange rate thus helping to reduce the dollar demand and hopefully reduce inflation to a single digit phenomenon. And maybe Moyano will reduce the teamsters salary's while all this is happening?? :-).

New Argentina President Macri has allowed the Peso to float on the open market. Its now at 13 to 1 US dollar. Yesterday it was 9.7 to 1. We will see how far it goes.

Called my Citi CC today. With no foreign exchg fee, any charges for today will have a rate of 0.0761 pesos per USD. Therefore:

1.00 USD = 13.1270 ARS.

US Dollar ↔ Argentine Peso.

1 USD = 13.1270 ARS 1 ARS = 0.0761789 USD.

Mid-market rates: 2015-12-20 14:31 UTC.

Too early to start using card. Disco supermarket offered 13 to 1 for cash purchase.

They are all playing it safe.

Maybe members can post other examples - restaurants, hotels, etc..

[QUOTE=Thomaso276;446643]Called my Citi CC today. With no foreign exchg fee, any charges for today will have a rate of 0.0761 pesos per USD. Therefore:

1.00 USD = 13.1270 ARS.

US Dollar ↔ Argentine Peso.

1 USD = 13.1270 ARS 1 ARS = 0.0761789 USD.

Mid-market rates: 2015-12-20 14:31 UTC.

Too early to start using card. Disco supermarket offered 13 to 1 for cash purchase.

They are all playing it safe.

Maybe members can post other examples - restaurants, hotels, etc..[/QUOTE]Yesterday, a store (clothing, electronics or shoes knowing me) had a rate of 13.7-1 posted at the register. It might have been a restaurant. Sorry I know this isn't that useful but it does help with what is trending because I am certain of the number.

Banco de la Nacion is showing the dollar at 12.8 today. I called my guy and he quoted 13.7 on a 1000.

No more dollar blue.

[QUOTE=Ilstranger;446714]No more dollar blue.[/QUOTE]The spread is only 10% now but it's still there and probably always will be.

[QUOTE=DaddyRulz;446715]The spread is only 10% now but it's still there and probably always will be.[/QUOTE]It seems the banks are only giving out 500U$D at a shot unless you meet all sorts of rules. And even then they are running out of dollars and say come back another day. Ive been getting 14 to 1 lately and that might improve in January as people leave for vacations. Until they stock up the reserves and the central bank there will be a "Blue" dollar.

[QUOTE=Gandolf50;446716] Until they stock up the reserves and the central bank there will be a "Blue" dollar.[/QUOTE]-as Brazil devaluated 35 - 45 %, this year the demand is 4 Real, nomore 4 usd.

Maybe they expropiate the "K-fortune"...this makes BCRA rich.

Maybe the blue-party is over.

Till Chiquiloft will come back. (maybe in Caracas, la Paz o La Habana).

I hope, we will get back to economy, not low-end speculation en "cuevas".

[QUOTE=Gandolf50;446716]It seems the banks are only giving out 500U$D at a shot unless you meet all sorts of rules. And even then they are running out of dollars and say come back another day. Ive been getting 14 to 1 lately and that might improve in January as people leave for vacations. Until they stock up the reserves and the central bank there will be a "Blue" dollar.[/QUOTE]I think as long as they continue the fiction of the "official" exchange rate there will always be a blue rate with a decent spread. 13-1 isn't the number.

Even if they really float the peso there will still be a small one because there is always people trying to stay off book. Those people will always be paying a premium to change black pesos to dollars and as long as they are paying the premium, I will get a little more at the cueva for my dollars.

That sounds like wishful thinking. I walked down Florida a week ago and was offered 60 centavos above bank rate. The difference is becoming negligible not the reverse. Macri' s election victory did away with any meaningful dollar blue.

[QUOTE=DaddyRulz;446715]The spread is only 10% now but it's still there and probably always will be.[/QUOTE]

[QUOTE=Ilstranger;446714]No more dollar blue.[/QUOTE]$13.90 today from Victor.

I guess that's better than a sharp stick in the ass but it may depend on the stick.

TL.

He said something about the official being $12.70 but I have not bothered to even check.

No idea what his source is.

But like anything in life you can work it like a car deal or a pussy transaction.

Negotiate!



Not worth my time but it may be worth yours .

Hi guys,

I have some French friends in town and need to take them to a cueva to exchange some money in Recoleta ( Pueyrredon and Las Heras ) my guy is on vacation, any pointers will be much appreciated! Please PM me :).

[QUOTE=Nikki;446761]Hi guys,

I have some French friends in town and need to take them to a cueva to exchange some money in Recoleta ( Pueyrredon and Las Heras ) my guy is on vacation, any pointers will be much appreciated! Please PM me :).[/QUOTE]Alo' Cubano.

Corner of Guido and Vicente Lopez.

6ft. 4in. Very Black Cuban.

Well Dressed. You can't miss him.

Has his office right next to Freddo the ice cream place.

Whatsapp - +54911 3868 2766.

14 to 1 yesterday.

TL.

He is there everyday.

[QUOTE=TejanoLibre;446762]Alo' Cubano.

Corner of Guido and Vicente Lopez.

6ft. 4in. Very Black Cuban.

Well Dressed. You can't miss him.

Has his office right next to Freddo the ice cream place.

Whatsapp - +54911 3868 2766.

14 to 1 yesterday.

TL.

He is there everyday.[/QUOTE]Ahhh yes I have seen them many times, but thought he was paying a crappy rate for some reason never asked him, Thx for the heads up TL :).

Thank you tejanolibre. But. The official exchange rate is now 13.6 and dollar blue is like 13.9-14. Unless I'm exchanging thousands of dollars at a time, it's too much of a hassle and definitely not worth my time For 300 pesos for every thousand dollars I exchange. I spend half of that on the taxi to get to microcentro.

Bye bye CFK. Bye bye dollar blue. Hello Macri. Hello " inflation? You ain't seen nothing yet.".

[QUOTE=TejanoLibre;446726]$13.90 today from Victor.

I guess that's better than a sharp stick in the ass but it may depend on the stick.

TL.

He said something about the official being $12.70 but I have not bothered to even check.

No idea what his source is.

But like anything in life you can work it like a car deal or a pussy transaction.

Negotiate!



Not worth my time but it may be worth yours .[/QUOTE]

[QUOTE=Ilstranger;446766] ... Bye bye CFK. Bye bye dollar blue. Hello Macri. Hello " inflation? You ain't seen nothing yet.".[/QUOTE]I know next to nothing about economics, but my simplistic mind figures that there can't be inflation unless Macri prints more pesos. And if he does that the dollar will strengthen accordingly. So those of us lucky enough to be spending dollars won't be impacted by any inflation.

But what do you guys who do understand economics think?

Bob.

I sure hope for your sake you're right.

Now. Have you looked at your precious " spread " lately?

[QUOTE=AllIWantIsLove;446768]I know next to nothing about economics, but my simplistic mind figures that there can't be inflation unless Macri prints more pesos. And if he does that the dollar will strengthen accordingly. So those of us lucky enough to be spending dollars won't be impacted by any inflation.

But what do you guys who do understand economics think?

Bob.[/QUOTE]

[QUOTE=Ilstranger;446769]I sure hope for your sake you're right.

Now. Have you looked at your precious " spread " lately?[/QUOTE]Still looking pretty damn good to me.

[QUOTE=AllIWantIsLove;446768]I know next to nothing about economics, but my simplistic mind figures that there can't be inflation unless Macri prints more pesos. And if he does that the dollar will strengthen accordingly. So those of us lucky enough to be spending dollars won't be impacted by any inflation.

But what do you guys who do understand economics think?

Bob.[/QUOTE]Here we go again.

As many people tend to do, you're paraphrasing the peso-dollar relationship incorrectly.

You wrote "[I]...unless Macri prints more pesos. And if he does that the dollar will strengthen accordingly.[/I]"

The dollar does not get "stronger" or "weaker" against the peso. It is the peso that fluctuates (usually down) in value in comparison against the relatively stable dollar.

Your summary would have been more correctly stated as "[I]...unless Macri prints more pesos. And if he does that the [U]peso[/U] will [U]weaken[/U] accordingly.[/I]"

If two men are standing side by side, and one of them doubles over with a stomach ache, you don't describe the situation by saying that the other man got stronger.

Thanks,

Jax

[QUOTE=AllIWantIsLove;446768]I know next to nothing about economics, but my simplistic mind figures that there can't be inflation unless Macri prints more pesos. And if he does that the dollar will strengthen accordingly. So those of us lucky enough to be spending dollars won't be impacted by any inflation.

But what do you guys who do understand economics think?
[/QUOTE]There could also be inflation if - for whatever reason - the productive capacity of the economy shrinks, giving a situation with the same amount of money chasing fewer goods.

[QUOTE=Jackson;446774]The dollar does not get "stronger" or "weaker" against the peso. It is the peso that fluctuates...[/QUOTE]Not when you're looking at the relationship from the point of view where the peso is the centre of your world, ie. You do all your business in pesos! Then, to you, it's the dollar that's going up and down. You're only aware that it's the dollar that's 'relatively stable' if you also compare it to other, third-party currencies.

And your analogy with the guy with a stomach ache doesn't really stand up because there's not any connection between the two men and you wouldn't say the well guy 'got' stronger, but you would say he 'is' stronger.

[QUOTE=DaddyRulz;446771]Still looking pretty damn good to me.[/QUOTE]There's a 50 centavo difference, on good days. Enjoy those remaining cents. While they last.

Sounds like you have a better grasp of the basics.

He doesn't know what he's saying. The dollar has been surging against all currencies over the past year. Try and tell a Bull the Dollar hasn't been " strengthening " against all EM and CE currencies. A basic marker for dollar strength is the dollar index. And yes, it hit all time highs last year. Argentina doesn't exist in a vacuum. Everything is interconnected. Unfortunately most people prefer talking nonsense instead of admitting it's really too complicated for them to understand.

In order to properly analyze a currency pair you would have to first properly analyze their respective economies separately and then in relation to each other etc. Both strengthen and weaken with relation to each other and other currencies for different reasons and at different times.

The Dollar is stable? Try telling that to the IMF. 7 years of ZIRP and QE somehow equates stability? The Dow whipwsawwed 1000 points yesterday. There is a reason China's Yuan just got added to the SDR basket for 2016. And also why the IMF is going to be altering the composition of the SDR reserves. Governments and central banks all over the world have had it with the FOMC' s volatile monetary policy.

[QUOTE=FOMC'sW;446778]not when you're looking at the relashionship from the point of vview where the peso is the centre of your world, ie. You do all r business in pesos! Then, to you, it's the dollar that's going up and down. You're only aware that it's the dollar that's 'relatively stable' if you also compare it to other, third-party currencies.

And your analogy with the guy with a stomach ache doesn't really stand up because there's not any connection between the two men and you wouldn't say the well guy 'got' stronger, but you would say he 'is' stronger.[/QUOTE]

[QUOTE=DavieW;446778]Not when you're looking at the relationship from the point of view where the peso is the centre of your world, ie. You do all your business in pesos! Then, to you, it's the dollar that's going up and down. You're only aware that it's the dollar that's 'relatively stable' if you also compare it to other, third-party currencies.

And your analogy with the guy with a stomach ache doesn't really stand up because there's not any connection between the two men and you wouldn't say the well guy 'got' stronger, but you would say he 'is' stronger.[/QUOTE]I think you got my point.

Jax.

[QUOTE=Ilstranger;446779]There's a 50 centavo difference, on good days. Enjoy those remaining cents. While they last.[/QUOTE]But if all you are seeing is a 50 centavo difference they must love you.

It's a rare day that I'm not seeing 10%.

If I changed the whole concept and started using ATM's once you figured the fees and the monkeying around that the central bank does it would be more like 15-20%.

There will be a blue rate (perhaps under a different name) until the day you can go to Miami or Paris with Pesos in your pocket and change them on arrival into Euro's or Dollars.

[QUOTE=DaddyRulz;446782]But if all you are seeing is a 50 centavo difference they must love you.

It's a rare day that I'm not seeing 10%.

If I changed the whole concept and started using ATM's once you figured the fees and the monkeying around that the central bank does it would be more like 15-20%.

There will be a blue rate (perhaps under a different name) until the day you can go to Miami or Paris with Pesos in your pocket and change them on arrival into Euro's or Dollars.

[/QUOTE]When you hit an economy with 5000 bullets, it's hard to tell which ones did it in. To be able to exchange your pesos into dollars or euros when you fly into Miami or Paris, Macri is going to have to pull out the shells that killed the Argentine economy. Good luck.

[URL]http://www.ambito.com/economia/mercados/monedas/dolar/[/URL]

The official is 13.78 and the blue is around what?

14-:14.1 says dolar ambito.

" There will be a blue rate "? What, you're making proclamations now without providing any sound reasoning why. Do you even know what mechanics the BCRA is implementing? What their last statement said? No. Of course not. You're just praying to God you're right. Good luck with your incredible shrinking blue rate.

[QUOTE=DaddyRulz;446782]But if all you are seeing is a 50 centavo difference they must love you.

It's a rare day that I'm not seeing 10%.

If I changed the whole concept and started using ATM's once you figured the fees and the monkeying around that the central bank does it would be more like 15-20%.

There will be a blue rate (perhaps under a different name) until the day you can go to Miami or Paris with Pesos in your pocket and change them on arrival into Euro's or Dollars.[/QUOTE]

[QUOTE=Ilstranger;446766]Thank you tejanolibre. But. The official exchange rate is now 13.6 and dollar blue is like 13.9-14. Unless I'm exchanging thousands of dollars at a time, it's too much of a hassle and definitely not worth my time For 300 pesos for every thousand dollars I exchange. I spend half of that on the taxi to get to microcentro.

Bye bye CFK. Bye bye dollar blue. Hello Macri. Hello " inflation? You ain't seen nothing yet.".[/QUOTE]The rates change everyday and the more you exchange the better the rate.

Common knowledge.

Now for something completely different:

I was forced to use an ATM ( the bad kind of ATM ) and this is what I received without a kiss.

I withdrew $700.00 Pesos coming from Chase USA.

My account reads :

NON-CHASE ATM WITHDRAW 720607 12/31AV. BELGR AR Peso 700.00 X 0.07722493 (EXCHG RTE) + 1.81 (EXCHG RTE ADJ).

NON-CHASE ATM FEE-WITH $5.00.

$62.03 Dollars debited.

Plus $79.80 Pesos to use the ATM.

Not even close to official or blue . Correct me please!

Xoom -.

Some of us down here use their services at least once a month for ourselves or to give away the money to some losers girlfriend.

Xoom Today -.

13.2783 to 1 plus escalating fees and a maximum allowed.

Best Bet :

My Private Banker downtown .

Up to $30,000.00 Dollars or Euros or Pesos a day .

Or a combination there of.

Fees and minimums apply.

Thanks ,

TL.

Sounds like Chase gave it to you with no vaseline. Xoom has the worst exchange rate. There are much better options.

[QUOTE=TejanoLibre;446787]The rates change everyday and the more you exchange the better the rate.

Common knowledge.

Now for something completely different:

I was forced to use an ATM ( the bad kind of ATM ) and this is what I received without a kiss.

I withdrew $700.00 Pesos coming from Chase USA.

My account reads :

NON-CHASE ATM WITHDRAW 720607 12/31AV. BELGR AR Peso 700.00 X 0.07722493 (EXCHG RTE) + 1.81 (EXCHG RTE ADJ).

NON-CHASE ATM FEE-WITH $5.00.

$62.03 Dollars debited.

Plus $79.80 Pesos to use the ATM.

Not even close to official or blue . Correct me please!

Xoom -.

Some of us down here use their services at least once a month for ourselves or to give away the money to some losers girlfriend.

Xoom Today -.

13.2783 to 1 plus escalating fees and a maximum allowed.

Best Bet :

My Private Banker downtown .

Up to $30,000.00 Dollars or Euros or Pesos a day .

Or a combination there of.

Fees and minimums apply.

Thanks ,

TL.[/QUOTE]

Has anybody tried to withdraw from their US Citi account using a Citi atm in BA? I would never use Chase internationally.

Don't feed the trolls, don't feed the trolls, never feed the fucking trolls.

Thanks Rocky.

Just remember how sad and pathetic their lives must be and be happy it's not yours.

I wonder about your life. Has it been sad and pathetic? Maybe I can ask some forum regulars to fill me in on your oh so amazing life. If it's so amazing why are you on this little forum 24/7. That alone is sad and pathetic. Good luck with your blue rate bub. I hope you squeeze out every last centavo while you can.

[QUOTE=DaddyRulz;446792]Just remember how sad and pathetic their lives must be and be happy it's not yours.[/QUOTE]

I'm starting to hear a voice from about two years ago. Accompanied by a strange buzzing sound.

So aside from the bickering. Does anyone know what the rates are?

So – the blue and the official peso rates are almost in parity around 13.9 to the US dollar. Are the arbolitos still selling pesos that are less than the service fees and exchange rate adjustments charged by banks when using a US $ based ATM card?