Exchanging Currency

[Member #3320]

There is also supply and demand, during the school vacations the rate always climbs, Jan., Feb., and July I think it always goes up around 1 peso for the dollar.

Lesson learnt. Next year around Jan 30, I will exchange around 20 K for the whole year.

[Gandolf50]

There is also supply and demand, during the school vacations the rate always climbs, Jan., Feb., and July I think it always goes up around 1 peso for the dollar.

[Tiny12]

Morgan Stanley is forecasting the official peso to be at 9.20 to $1 by the end of 2014 and 11.50 to $1 by the of 2015. I do not know their track record. They also have the premium between the official and parallel rate falling to 17%. The high premium was 43%.

The consensus (median) of the analysts is 10.09 for 12/31/2014 and 12.91 for 12/31/2015. Credit Agricole is the most bullish, forecasting 7.30 pesos / dollar on 12/31/2014 and 8.15 on 12/31/2015. BNP Paribas is the most pessimistic, 12.75 on 12/31/2014 and 16.10 on 12/31/2015.

The forward market (like futures contracts) is priced at 10.03 on 12/31/2014 and 14.72 on 12/31/2015.

This is all for the official rate.

[Vampire]

I shopped the street (Florida) a bit Sunday, talked to at least a half dozen cambios. Almost all were offering 10.1. I was able to get 10.15 at the first magazine shack south of Corrientes. I threw out 10.2 to a few guys, but nobody would go that high. It looks like the gap between the official rate and blue rate is narrowing.

I was surprised by the sheer number of cambios out there now, sometimes pushing a dozen on one block. I bet some of these guys don't get more than a few customers per day. A few were quite attractive women. Sex sells.

Vampire over and out.

[DavieW]

Changed on Florida today. Got 10.30. Lots offering 10.10 and a few 10.20.

[Purina]

Don't really have a reason to go downtown. Any tips on where I can exchange dollars near the Airport or in Devoto? Thanks a bunch.

[Big Boss Man]

Rumors are the Government may lift the current Dollar purchase restrictions for individuals and corporations next June.

Creating thus only one dollar market at $ xxxx pesos, perhaps close to the dollar tarjeta. Value.

However limitations may apply.

What will happen to the exchange rate, up or down?

Morgan Stanley is forecasting the official peso to be at 9.20 to $1 by the end of 2014 and 11.50 to $1 by the of 2015. I do not know their track record. They also have the premium between the official and parallel rate falling to 17%. The high premium was 43%.

[Gandolf50]

I was passing through Calle Florida today and the best offer I heard was 10.30 p for the dollar. I think I annoyed a few of them when I said No Gracias and just kept walking.

[Santa]

Rumors are the Government may lift the current Dollar purchase restrictions for individuals and corporations next June.

Creating thus only one dollar market at $ xxxx pesos, perhaps close to the dollar tarjeta. Value.

However limitations may apply.

What will happen to the exchange rate, up or down?

[Vampire]

Here is some information for Bariloche:

On my second day in Bariloche, I was able to find the arbolitos. There were a couple guys on the 200 block of Bartoleme Mitre, south side of the street near the entrances to one of those inside-the-block malls. This is the third block east of the Centro Civico. Both guys I talked with were offering 10.1 pesos per 1 dollar. This rate was for $50 and $100 bills. Smaller denomination bills could be traded at 9.7 pesos per dollar. I was taken into a clothing store selling t-shirts, sweatshirts, and jackets. I did not see an address, but the store was flanked on the west by the entranceway to a supermarket and a kiosk on the east. My hotel accepted dollars at a rate of 10, but I think they were the exception, not the rule. I also saw a restaurant accepting dollars at a rate of 9. Prices in Bariloche seem to be higher than Cordoba, but lower than Buenos Aires.

Vampire over and out.

[DavieW]

This forum is fcuking hilarious!

Excuse me for trying to help out my fellow ex-pats. Sorry about that, I'll try to remember that that's against the rules and the only reason this forum exists is for people to take sides and knock lumps out of each other!

I am only trying to let people know just how expensive Iguazú is, based on the fact that I lived there for a couple of years and visit fairly regularly. I also helpfully provided some concrete examples of real price differences compared to Buenos Aires based on information gathered just this last weekend.

Now, how does "I've been there 4 times in the last 10 years, so let's agree to disagree" make any sense whatsoever? What really makes me laugh though, isn't just that someone can ignore the facts presented - I read it when it was posted, laughed to myself and left it at that - but then other people start *thanking* him for HIS post!

I get the same thing all the time on this particular thread for daring to find places with better exchange rates than other people are posting - "who cares about an extra 2c on the dollar!" - and the complainer gets half the forum backing him up!

What's the matter with you people?!?!? Or maybe I'm the idiot for thinking the idea is to help each other out?

[Tres3]

I have been to Iguazu four times since 2002. Three times I stayed on the Argentine side, and one time I stayed on the Brazilian side. I still think London, Tokyo, Moscow, and several other world cities are more expensive. I guess we will have to agree to disagree, and move on.

Tres3.

[DavieW]

I've lived in 3 of those cities and visited the other. I lived in Iguazú for almost 2 years.

If you don't think Iguazú is expensive, you've clearly never spent much time there. You want an example. Traveling 5 blocks in a cab (on the meter) is 35 pesos and if you travel in a remís there's a 25 peso minimum. Here's another - a tin of Campagnola tuna in EOS supermarket (the biggest supermarket in Iguazú - none of the big chains have been allowed to open up there) is 28 pesos, compared to the 20.50 it costs in Carrefour here. Or how about a typical electricity bill - my mate has a smallish 3 bedroom house there (no air-cons) and pays 1500 - 1800 pesos per month. I've never paid more than about 60 pesos in Buenos Aires (only a one-bedroom flat, but with 2 oft-used air-cons).

Fine, in absolute terms (particularly taking accommodation costs into account!) of course you're going to spend more living in London, but in relative terms, taking average income into account, Iguazú wins by a long stretch.

[Daddy Rulz]

Is anybody going back to the states that has an excess of pesos to get rid of for dollars?

[Tres3]

Either DavieW was making a joke, or has not traveled very much. He needs to go to Tokyo, London, or Moscow if he thinks Iguazu is expensive.

Tres3.