Some good news... Capital One was giving at least 15 pesos as of Friday and 15.17 today according to a friend of mine... No transaction fees or conversion fees... Time to use the card and save the cash...
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Some good news... Capital One was giving at least 15 pesos as of Friday and 15.17 today according to a friend of mine... No transaction fees or conversion fees... Time to use the card and save the cash...
[QUOTE=Thomaso276;447075]He was probably looking to see if you had resident status in Argentina.
Its documented in my USA passport. Only tourists can change without proof of income.
What did you get?[/QUOTE]Thanks. I wasn't aware of that. I got 14.7 on Feb. 17th. This was at the Supervielle on Las Heras between Austria and Pueyrredon.
Bob.
The resent stability of the Peso reflected an optimistic outlook for the new regime in Argentina. But this new slipping of the peso shows signs of a bad future for the peso vs dollar. Not confirmed really until it happens but in this world of DRAMATICALLY depreciating currency what was once an uncommon extreme is now common; Col,Mex.
Me? I would convert just what I needed for daily living.
[QUOTE=PirateMorgan;447080]The resent stability of the Peso reflected an optimistic outlook for the new regime in Argentina. But this new slipping of the peso shows signs of a bad future for the peso vs dollar. Not confirmed really until it happens but in this world of DRAMATICALLY depreciating currency what was once an uncommon extreme is now common; Col,Mex.
Me? I would convert just what I needed for daily living.[/QUOTE]Good post. Once again, here is my take. The papers say the inflation rate is 20% but empirical observation says it may be more considering the way prices are rising at the markets and restaurants. As the peso develops less buying power, people will look to the dollar for stability. There will be an increasing demand for dollars and with greater demand, the exchange rate climbs. One feeds on the other. So, where will it end? Strict price controls maybe. My guess is the exchange rates may blow past the teens and move into the 20's for one dollar. Bobby Doerr.
[QUOTE=BobbyDoerr;447085]Good post. Once again, here is my take. The papers say the inflation rate is 20% but empirical observation says it may be more considering the way prices are rising at the markets and restaurants. As the peso develops less buying power, people will look to the dollar for stability. There will be an increasing demand for dollars and with greater demand, the exchange rate climbs. One feeds on the other. So, where will it end? Strict price controls maybe. My guess is the exchange rates may blow past the teens and move into the 20's for one dollar. Bobby Doerr.[/QUOTE]Bobby there isn't a question in my mind that this analysis is spot fucking on correct. This is exactly what should happen.
Who the hell knows what will happen here.
On Monday through TL's friend.
Today I withdrew 4500 pesos at HSBC by ATM at 15.26 from my US bank with a rebate of ATM fees later... Three withdrawals of 1500 pesos plus 93.6 fee... 1593.6 pesos from HSBC and $104.43 US from my account...
More recon... Do not use Argentine banks for ATM withdrawals... Banco Provincial and Banco Hipo only allow 1000 peso w/d and charge 93.6 pesos per transaction...total ripoff... Use HSBC and BBVA both allow 1500.
And at least 3 pulls... More recon tomorrow as to the maximum pulls per day from either BBVA or HSBC...My California gave 15.25 as the exchange today. Capital One MasterCard was 15.45 yesterday ...
The USA educated Harvard and MIT Sloane Business School economist, egghead now running the Banco Central de Argentina, Sturzenegger, is pissing in the wind if thinks he can buy his way out of this escalating peso weakness. Yesterday Federico Sturzenegger (no relationship to Arnold) invested more than US $100 million of reserves and the currency fell 28 cents. My take is the boys in Macr's store are very nervous. Flooding dollars into the market is like shoveling shit against the incoming tide. It will work for a while but will never stop the inevitable flood that's coming. Macri must tackle inflation first. Strict pay freeze and price controls. It will never happen because it's a bitter pill for Argentina to swallow. That's my two cents. Thanks Bobby Doerr.
After Macri [URL]www.dolarblue.net[/URL] is no longer online.
However, for selling dollars the current market price can be seen online at [URL]www.mundinix.com[/URL].
They only mark the sell-dollar (buy peso) exchange in Buenos Aires, but it's quite accurate.
[QUOTE=BobbyDoerr;447095]The USA educated Harvard and MIT Sloane Business School economist, egghead now running the Banco Central de Argentina, Sturzenegger, is pissing in the wind if thinks he can buy his way out of this escalating peso weakness. Yesterday Federico Sturzenegger (no relationship to Arnold) invested more than US $100 million of reserves and the currency fell 28 cents. My take is the boys in Macr's store are very nervous. Flooding dollars into the market is like shoveling shit against the incoming tide. It will work for a while but will never stop the inevitable flood that's coming. Macri must tackle inflation first. Strict pay freeze and price controls. It will never happen because it's a bitter pill for Argentina to swallow. That's my two cents. Thanks Bobby Doerr.[/QUOTE]Every politician in a democratic society, including Richard Nixon, who has tried price controls has failed. They may be a short term fix, but in the long term they are doomed to failure.
Tres3.
[QUOTE=Paladin;447094]More recon... Do not use Argentine banks for ATM withdrawals... Banco Provincial and Banco Hipo only allow 1000 peso w/d and charge 93.6 pesos per transaction...total ripoff... Use HSBC and BBVA both allow 1500.
And at least 3 pulls... More recon tomorrow as to the maximum pulls per day from either BBVA or HSBC...My California gave 15.25 as the exchange today. Capital One MasterCard was 15.45 yesterday ...[/QUOTE]I had the same problem. I have American credit cards and bank cards. I'd try to draw out say 3,000 or so pesos from atms belonging to Argentine banks, and I'd get denied. The only time banks like Banco de la Nacion, Banco Patagonia, etc would work is if you withdrew a small amount like 700-1000 pesos, basically nothing bigger than their fast cash. To get the amount of pesos needed, you'd have to keep swiping and paying around 92 pesos per piecemeal withdraw. Maybe this scheme is how the Argemtine banks stay in business?
I was able to get 2000 pesos from a Santander Rio ATM on one swipe, but I think it denied me from getting 3000 pesos on the previous try. Is that a Spanish or Argentine bank?
I got 2500p at the Citi on Florida and Tte Gral Juan Domingo Peron, on the 16th.
They charged me 90.60p.
For a total of $174.69.
Enough of this.
Start checking which Private Apartments are still open!!!
[QUOTE=WorldTravel69;447099]I got 2500p at the Citi on Florida and Tte Gral Juan Domingo Peron, on the 16th.
They charged me 90.60p.
For a total of $174.69.
Enough of this.
Start checking which Private Apartments are still open!!![/QUOTE]The only way you can do better than a cueva is if you have an ATM card that rebates the ATM fee, does not charge a foreign transaction fee (charged by USA issuers on your monthly statement), and does not charge a money exchange fee (also charged by USA banks on your monthly statement).
Tres3.
The move is on. Dollar holders and owners can only hope that the slide in the peso value will be gradual and orderly so as not to provoke some unpredictable and dangerous behavior out of the parties that be. This is truly a Pura Vida moment! (I gotta come and eat steak).