What is the latest blue exchange rate?
Thanks
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What is the latest blue exchange rate?
Thanks
[QUOTE=MJsummit;432995]What is the latest blue exchange rate ...?
[/QUOTE]Interested to know myself. I only change USD once a month when I get paid and it looks like I've missed out on the highs of a couple of weeks ago.
I'm expecting my salary to arrive later this morning. I'll let you know what I get offered.
I got 8.1 yesterday April 8 at the cueva on Scalabrini and Cervino.
[QUOTE=MJsummit;432995]What is the latest blue exchange rate?
Thanks[/QUOTE]Gee, I wonder if those links titled "Exchange Rates" on the forum's Front Page would be of any help in answering this question?
Jackson,
I don't think anybody reads down to the blue dollar link.
Sort of the same mentality of the newbys asking for help without reading any posts.
Got pabulum?
[QUOTE=Doppelganger;433013]Jackson,
I don't think anybody reads down to the blue dollar link.
Sort of the same mentality of the newbys asking for help without reading any posts.
Got pabulum?[/QUOTE]Wrong!
Yes it is helpful, but I have a question. On Precio Dolar Blue and La Nacion the current purchase rate is 8.34 and the current sell rate is 8.37. Whereas on [URL]DolarBlue.net[/URL] the current purchase rate is 7.87 and the sale rate is 8.37. Last year, some person, who want to buy dollars from me, told me that you had to use DolarBlue's figures and average the sale and purchase rate on [URL]DolarBlue.net[/URL] to determine the correct sell price. Using the current prices on [URL]DolarBlue.net[/URL] he would buy my dollars at 8.12. Obviously this is a rip-off. No doubt there is a discount from the current published purchase price, but I believe that it should be in the range of 5-6 cents depending on the amount and denominations of the dollars involved. Thus, using a purchase price of 8.34 the price would be 8.28 or 8.29.
So after that long winded introduction what is the normal discount from the published purchase price, if any?
Let me explain the best I can:
It's a market. I'm not an Argentine (or any sort of) lawyer so I'll not comment on the legality or otherwise of exchanging money other than at the white rate a little over 5.
I'll stick with practicality. Those of us lucky to have a direct line to a cueva will not want to disclose information potentially embarrassing to the cueva.
Think of the cueva as the principal. The cuevas employ "arbolitos" as agents. These are the guys who patrol Florida and Lavalle (pronounced Lavash) They need to make a little money themselves so they will offer a little less than the cueva. So talk to the arbolito and negotiate a price (they were offering me 8.0 on Sunday). Tell him how many dollars you want to exchange and he will give you a price. There may be a little room for negotiation, generally speaking $100 bills are most desired (portability) and larger amounts get a better rate.
There also some cambio places mentioned in this thread which may be principals or agents, it's a little hard to tell sometimes.
If you agree on price he will probably take you to a local storefront within a mall, take your money and ask you to wait. He will then go to the cueva with your money, or possibly to a local business owner if the has that connection, and ten minutes later will return with the agreed amount of Pesos AR.
Will he come back with the correct amount of Pesos AR? Extremely likely.
Will there be any counterfeit bills?" Unlikely but possible, but almost certainly it will be by mistake rather than malice. Could happen at a bank also.
Remember, It's a market. There is no "right price". It's just a matter of are there more Pesos looking for dollars or dollars looking for Pesos.
Good luck out there and remember to post your report!
Last year 6.34 three weeks ago, 7.87 and last week 8.20 All $100 and a $1000 or more. None were made on Florida or LaValle.
As to the discount, if any, you do not average the buy / sell rates on [URL]DolarBlue.net[/URL],no? Can I just look at the published rate on La Nacion, discount it by 5 cent and get a fair exchange?
[QUOTE=DavieW;432997]
I'm expecting my salary to arrive later this morning. I'll let you know what I get offered.[/QUOTE]8.25 this afternoon.
[QUOTE=Santa;433015]Wrong!
Yes it is helpful, but I have a question. On Precio Dolar Blue and La Nacion the current purchase rate is 8.34 and the current sell rate is 8.37. Whereas on [URL]DolarBlue.net[/URL] the current purchase rate is 7.87 and the sale rate is 8.37. Last year, some person, who want to buy dollars from me, told me that you had to use DolarBlue's figures and average the sale and purchase rate on [URL]DolarBlue.net[/URL] to determine the correct sell price. Using the current prices on [URL]DolarBlue.net[/URL] he would buy my dollars at 8.12. Obviously this is a rip-off. No doubt there is a discount from the current published purchase price, but I believe that it should be in the range of 5-6 cents depending on the amount and denominations of the dollars involved. Thus, using a purchase price of 8.34 the price would be 8.28 or 8.29.
So after that long winded introduction what is the normal discount from the published purchase price, if any?[/QUOTE]Hi Santa,
Without a doubt, any published "Blue Dollar" rate is only an estimate as there is no official market for such exchanges.
Nevertheless, these sources do provide some insight into what is by nature a murky subject.
I generally find that I will receive approximately 97 to 98% of what I sense is the day's "most rational" number.
I can also say, in a completely subjective statement, that [URL]www.ambito.com[/URL] seems to more consistently provide the most accurate number (after being discounted as described above).
Of course, as noted, there are dozens of other variables which may effect the rate you get quoted at that moment, including the possibility that the cueva you are in may be under-supplied with one currency or another and they're just at that moment trying to discourage purchases of that currency.
Thanks,
Jackson.
I did not see those links before.
FYI...
Today the published blue dollar rates were:
[URL]lanacion.com[/URL] = 8.40
[URL]ambito.com[/URL] = 8.42
[URL]dolarpeso.com[/URL] = 7.68
[URL]dolarblue.net[/URL] = 8.43
[URL]preciodolarblue.com.ar[/URL] = 8.42
Today, I actually got 8.25 while exchanging 1k.
That's 98% of the [URL]ambito.com[/URL] published rate.
You are welcome,
Jackson
Beats me, why someone who earns in pesos from local business would want to exchange us $!
[QUOTE=Member#3320;433102]Beats me, why someone who earns in pesos from local business would want to exchange us $![/QUOTE]I am not a economist but I think it would be obvious. The banks are not paying interest, any where. But if you earn in pesos and buy a small amount (what ever you could afford) monthly the saving and earnings should be obvious. In less then two years the dollar has gone from 5 to 8 pesos. About a 60 % gain? Where else can you get that return on a small investment. With the dollar supposedly going to 10 in the near future, that would be 100% in less then 3 years. It seems like a good idea to me!
8.15 today, Friday.