Thread: Exchanging Currency
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04-17-15 15:12 #1728
Posts: 1099Total cacophony.
Hilarious!
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04-17-15 00:35 #1727
Posts: 94As I commented a few weeks ago, the "blue" rate has fallen as a result of the following factors:
- The "dolar ahorro"; anyone working in white earning 9400 pesos per month or more can buy USD at the official rate +20% with up to 20% of their salary; they then immediately take these dollars and sell them to a cueva for an instant profit. This provides significant liquidity to the blue market; as has been reported in all the papers, each month of 2015 has set a new record for "dolar ahorro" purchases; more "dolar ahorro" purchases = more supply in blue market = lower blue price. That being said, there has to be a significant profit involved in this exercise in order to make it worth parting with the USD, so the peso has probably found its bottom in the 12.5- 12.90 level.
-The economy is in full blown recession; there are simply less surplus pesos floating around demanding to be dollarized.
-The ANSES (national social security administration) has been selling dollar denominated bonds (those stolen a few years ago from the AFJP private pension system that was nationalized) in order to keep the stock/bond market swap price suppressed. The stock/bond swap market is the better alternative to the blue market for market participants with declared "white" money.
- Market anticipation of a regime change at the end of the year; as the end of the K mis-administration nears and the market anticipates a more pragmatic administration who will be forced to implement corrective measures to cure the economic distortions speculative interest in being in Argentine assets increases. This weeks movement back up to 12,80 (as of wednesday) is partly a reaction to the fact that a pro-Kirchner candidate won the primary election for governor in Salta held last Sunday. The more likely it looks like the Kirchners will stay in control, the more investors and Argentines will sour on the peso.
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04-16-15 20:32 #1726
Posts: 1657Lol.
Actually the dollar just dropped against other currencies in the past few days.
Originally Posted by Thomaso276 [View Original Post]
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04-16-15 19:54 #1725
Posts: 995Sometimes I have to remind myself that all numbers generated in Arg are lies. Wonderful article in La Nacion how the gov't stole INDEC and how their economic data is all BS.
I hope that this latest rise is a result of the money folks having enuff of the pressure from the current administration and they have decided to stop the losses they have incurred over the last several months. I honestly believe the current rate is more of a result of threats and favors than true economic formulas. The dollar is stronger all over the world but here it falls against the almighty peso. How is that possible even if the Central Bank is manipulating with their purchases on a daily basis.
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04-16-15 10:07 #1724
Posts: 2808No fucking idea
Originally Posted by BadMan [View Original Post]
I would enjoy hearing el Alamo Palermo's thoughts on the matter, he is way fucking smarter than me when it comes to this issue.
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04-15-15 14:08 #1723
Posts: 2808Looks like movement
Two days in a row, lets see if it holds.
Finally, see if it holds, I'm changing some today.
http://www.ambito.com/economia/mercados/monedas/dolar/
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04-13-15 07:22 #1722
Posts: 911Originally Posted by RevBS [View Original Post]
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04-13-15 03:54 #1721
Posts: 1017[Deleted by Admin]
EDITOR'S NOTE: This report was redacted or deleted to remove sections of the report that were largely argumentative. Please read the Forum FAQ and the Forum's Posting Guidelines for more information. Thank You!
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04-12-15 11:28 #1720
Posts: 911Originally Posted by BobbyDoerr [View Original Post]
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04-12-15 10:42 #1719
Posts: 30No Way
Thanks Gondolf50, Hot Rod11, Tre3 and TJ for the information (and get a freekin' life Bad Man).
Indeed I have read the most current posts 'bout the blue rate, peso paying atm's, argie fricken banks, (don't you like how they are screwing Citibank) and paying for anything up front. Honest fellers, I didn't just fall off a hay wagon. If you can find me a post about WU paying US Dollars,I missed it Anyhow it costs the sender US$86 per thousand to send by WU. That's like losing 3 hours with a 5 and 15 minutes with a 10. I don't know whether there's any charges at the receiving end of WU and don't really give a shit because it's too much of a discount. Soo, I guess I'll mule the dough in.
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04-12-15 08:26 #1718
Posts: 911Originally Posted by HotRod11 [View Original Post]
1) Cash is king! No western Union or ATM's.
2) Always make your deal before you take off your pants, not after.
3) Never, never pay up front! (for ANYTHING).
4) Dont expect a Argentine to be on time or to even show up at the time promised.
5) Dont expect to see the same girl at your door as you saw on the internet site.
6)......................
Ill let others continue. The idea is to READ the posts. Use services and restaurants , etc. Recommended by other posters, or at least get into contact with T.L. If you learn something you think is new while here... Post it! GOOD or BAD! Good luck! Have fun! Be safe!!!
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04-12-15 03:32 #1717
Posts: 125Another thing
I have read this post daily and I mean every day for the past oh seven to eight years. I just can't remember posts from years ago. If I were to ask about something that was mentioned in the past -- holy shit my response from the members is -- read the fucking posts. Ok I do read it but I can't always remember past posts. Come on guys this type of attitude is not necessary....
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04-12-15 03:21 #1716
Posts: 125Things I hate
That is the one thing I dislike about this site. What ever you do don't ask for advise. If you do one of these grumpy old men will jump on it and do their best to make you look foolish. Would it kill you to say- buy your pesos on the black market and get oh lets say forty percent more in the exchange for dollars. Thats why I won't post anything, If I do the first thing that happens is someone corrects my grammar then my spelling then someone tells me how stupid I am to ask that question. I have been on this site for many years and It has been very useful but I try not to ask questions.
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04-12-15 00:07 #1715
Posts: 577Exchange Rate??
Originally Posted by AlbertPunter [View Original Post]
Tres3.
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04-11-15 21:37 #1714
Posts: 76Stupid question
Maybe I lost something in the discussion.
Why not withdrawing money from ATM, as you need it ?
Originally Posted by BobbyDoerr [View Original Post]