Thread: Exchanging Currency

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  1. #1863

    Exchange rate

    Quote on official exchange this morning per Bloomberg is 14.77:1. Found a quote on the net for blue dolar at 14.83:1. Why bother with unofficial exchange?

  2. #1862

    On Florida in front of the Pacifico Galeria

    Quoted 410.

    Quote Originally Posted by MileHighDave  [View Original Post]
    Paid my Tourist reciprocity fee today. Government gave me 14.5:1. Considerate of them as they print all this money anyway! A-Peso goes down most every day particularly this week. Had a lot of catching up to do after being closed for Carnival earlier this week.

  3. #1861

    Currency Exchange

    Paid my Tourist reciprocity fee today. Government gave me 14.5:1. Considerate of them as they print all this money anyway! A-Peso goes down most every day particularly this week. Had a lot of catching up to do after being closed for Carnival earlier this week.

  4. #1860

    Last Sunday

    Worked the street last Sunday. I was offered 14 by most. I was able to negotiate 14.1 on a thousand dollars. The currency exchange in Pacifico was doing 13.6 and there were about twenty people in line!

  5. #1859
    This morning I asked my local (argie owned) supermarket their dollar rate = 14.20. My change guy was 14.10 this week. Maybe its time to use dollars for daily untraceable transactions.

  6. #1858

    Not an economist

    Nor have I ever played one on TV. I appreciate the comments and I have some follow ups.

    Quote Originally Posted by BigBossMan  [View Original Post]
    Neoclassical economists following the ideas of Marshall will always want to evaluate supply and demand functions to determine price.

    Perhaps the Argentine government has increased its demand for dollars because it is about to settle its on-going bond dispute.

    https://www.washingtonpost.com/busin...b19_story.html
    If this was the case, then would we see the cuevas keep place? The last ambito post was the Friday before a four day holiday perhaps it lagged.

    Quote Originally Posted by SlyOne  [View Original Post]
    Answer is simple......

    If you want to drive the informal guys out of business ..Then offer a higher rate for say 6 months or so and they will all go broke and find new jobs....

    At that stage there will only be one rate "The Official Rate "as there will be no competition...

    It called getting control of your currency exchange...

    Sly.
    If this is the case, and while I don't claim to understand Argentine Economics well beyond hooker pricing I do consider myself to be somewhat of an expert on how Argies themselves work, this will not put the cuevas out of business. They will simply follow right behind the "official" knowing that there are enough lazy tourists and people who want to hide their money that will trade it .05 or .10 behind the "official" in order to keep the transactions off the books and then they will run down and buy Pesos, Reales, Dollars, or Euros at the official rate to realize a profit.

    When the bigger bills get released I'll be looking for a whole new wave of counterfeiters because a 500 peso bill is worth counterfeiting when a 100 peso bill isn't. So they will take dollars, buy counterfeit 500's at about 30% of face value, sell those to tourists, then take the tourist dollars, sell those to drug dealers and other people with off the book income and then settle up for real dollars at the higher government rate.

    I see what you mean, and can see the government trying it, I don't think it will work though.

  7. #1857

    Exchange rate

    Quote Originally Posted by DaddyRulz  [View Original Post]
    Why would the official be higher than the informal? Is it a "because Argentina" thing?

    http://www.ambito.com/economia/mercados/monedas/dolar/
    Answer is simple......

    If you want to drive the informal guys out of business ..Then offer a higher rate for say 6 months or so and they will all go broke and find new jobs....

    At that stage there will only be one rate "The Official Rate "as there will be no competition...

    It called getting control of your currency exchange...

    Sly.

  8. #1856

    I don't pretend to be an expert in Argentine economics but

    Quote Originally Posted by DaddyRulz  [View Original Post]
    Why would the official be higher than the informal? Is it a "because Argentina" thing?

    http://www.ambito.com/economia/mercados/monedas/dolar/
    Neoclassical economists following the ideas of Marshall will always want to evaluate supply and demand functions to determine price.

    Perhaps the Argentine government has increased its demand for dollars because it is about to settle its on-going bond dispute.

    https://www.washingtonpost.com/busin...b19_story.html
    Last edited by Big Boss Man; 02-05-16 at 22:47. Reason: Faulty memory. Marshall not Fisher

  9. #1855

    Need to hear from the economists in the group

    Why would the official be higher than the informal? Is it a "because Argentina" thing?

    http://www.ambito.com/economia/mercados/monedas/dolar/

  10. #1854

    Exchange

    Quote Originally Posted by WorldTravel69  [View Original Post]
    Anyone know the exchange given at the ATMs?
    I was getting about 13.6 from the ATMs.

    Best cash exchange I found is about 1.5 blocks past Acapulco Restaurant on the same side of the street. Just before you get to the second street after passing Acapulco Rest is a cell phone store with a cashiers cage in the back room. There is always a line of people there waiting to make cambio. They pay 14.2 for $100 bills and 13.9 for $20 bill.

  11. #1853

    ATMs

    Anyone know the exchange given at the ATMs?

  12. #1852

    13.8 for $300 at Cerviņo y Ortiz on Monday Feb 1, 2016

    13.8 for $300 at Cerviņo y Ortiz on Monday Feb 1, 2016.

  13. #1851

    Money Back Guarantee

    This is a First.

    Lorena the Brazilian Cambio Girl offers a money-back guarantee if any of her 100 peso bills are ever rejected as fakes.

    This is unheard of in the 10 years that I have lived here.

    Simple.

    Her 100's are "marked' so all you have to do is return it to her and she will exchange it.

    Tiny little puppy paw print.

    Last Saturday she was giving 14 to 1.

    Marcelo T. De Alvear 626 Local #22.

    @ Florida St.

    L.P Silva's sweater shop.

    Above the Direct TV store.

    Lorena:

    Whatsapp - +54911 6118 7649.

    Almost speaks English and has a set of hooters too.

    Bonus!

    TL.

  14. #1850
    Quote Originally Posted by DavieW  [View Original Post]
    You're forgiven....but it is a dumb question!

    Arg pesos are not an internationally trade-able currency. You'd have trouble finding them even in neighbouring countries.
    Ah. Ok then! Thanks for the info!

  15. #1849
    Quote Originally Posted by MessiFan  [View Original Post]
    Apologies if this is a dumb question.
    You're forgiven....but it is a dumb question!

    Arg pesos are not an internationally trade-able currency. You'd have trouble finding them even in neighbouring countries.

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