Exchanging Currency

[Aqualung]

Banco Comercial had a very long line, but also had a nice Ice Cream shop next door.


Tres3.

Thanks for a very informative post in general but the part I picked must be the post of the month! Hahahahahahahahahahahahahah I loved it!

[Tres3]

I went to Colonia yesterday (Tuesday) to get dollars from an ATM machine. There are two REDS (Networks), REDBROU and BANRED. I found three banks on the main street of Colonia (the same street as city hall). Two banks use BANRED for their ATMs. They are BBVA and Banco Comercial. The bank using REDBROU is Banco de La Nacion.

Regardless of the network that you use, there is a $1000.00 per day limit on withdrawals using FOREIGN ATM cards. BANRED has a $300.00 per transaction limit and a $6.00 per transaction ATM fee. Unless you use an ATM card that is fee less or rebates the fees, the fees add up pretty fast. I use a Schwab card, so I do not care about the fees. I got all of my dollars at BBVA, as they had the shortest line. Banco Comercial had a very long line, but also had a nice Ice Cream shop next door.

REDBROU appears to not have the $300.00 per transaction limit, but the ATM machine was not working. I went twice, about two hours apart and got the same "Bajo Mantainamiento" message.

Colonia is a nice, small town, but if you have a good source of "blue" currency, Argentina, is cheaper. The ferry, with taxes and fees cost $354 pesos, plus the taxi to and from the ferry terminal.

Tres3.

[Gandolf50]

Someone told me on the street that the "arbolitos" were down to 8.40 and I know that Xoom is catching up at 8.10 !

Is it still a good idea to stuff your mattresses?

Keep the green?

TL.

More then a few people I have talked to think this will last from 2 to 4 weeks and then it is expected to continue upwards. So yes, if you can afford to hold out for a while it is probably a good idea. Several economists are predicting some where between 11 and 13 to 1 unless the government changes its policies.

[Don B]

Someone told me on the street that the "arbolitos" were down to 8.40 and I know that Xoom is catching up at 8.10 !

Is it still a good idea to stuff your mattresses?

Keep the green?

TL.

8.4 today at Dalman, he was quite apologetic.

Don be.

[TejanoLibre]

I just went there and exchanged at 8.6. There was a cop (PFA) on the corner, and I didn't realize that he followed me in until I was making the transaction. My 'oh fuck' meter shot up, but then I suppose I should have been more concerned about AFIP agents. As it turns out, he just started chatting with the guy behind the other window. I'll let you draw your own conclusions from that.

Someone told me on the street that the "arbolitos" were down to 8.40 and I know that Xoom is catching up at 8.10 !

Is it still a good idea to stuff your mattresses?

Keep the green?

TL.

[Sleeper]

How about these guys who operate out in the open (like Scalabrini Ortiz why Cerviño)? Are they being hassled? (Let me guess. The answer is that you have a choice. You can pay the bribes or you can pay the fines. Right?

Bob.

I just went there and exchanged at 8.6. There was a cop (PFA) on the corner, and I didn't realize that he followed me in until I was making the transaction. My 'oh fuck' meter shot up, but then I suppose I should have been more concerned about AFIP agents. As it turns out, he just started chatting with the guy behind the other window. I'll let you draw your own conclusions from that.

[AllIWantIsLove]

How about these guys who operate out in the open (like Scalabrini Ortiz why Cerviño)? Are they being hassled? (Let me guess. The answer is that you have a choice. You can pay the bribes or you can pay the fines. Right?

Bob.

[Don B]

They caught the network (5 people) after an investigation and he got his colleage got trapped by an inspector in disguise. 60 k dollars were confiscated and the fine represents 3 times the dollars found (180 k). We didn't ask too many details to respect his privacy and pain.

This is just an illustration of the pressure the government is putting on the market.

Our statists, WT69, et al, who always change at the official rate, are certainly applauding the government doing its job.

Get rid of the free market, state control over all.

Don B.

[MataHari]

And wad he arrested and booked?

They caught the network (5 people) after an investigation and he got his colleage got trapped by an inspector in disguise. 60 k dollars were confiscated and the fine represents 3 times the dollars found (180 k). We didn't ask too many details to respect his privacy and pain.

This is just an illustration of the pressure the government is putting on the market.

[Silver Star]

I m not investing, TL, I m leaving the country for a few month and cashing out. Bought the pesos at 9.80 last week and didn't want to make a lame 20 dollars profit on a forum member. Didn't want to bother with small notes as well so rounded it up to 10. Cold temperatures in a big town always remind me of Christmas time; o).

Thanks for the café and the interesting informations, Tomaso!

PS : meanwhile take care with dollar calls in the microcentro, there are some police officers in disguise in the lot. Only trade with verified sources. My home delivery guy got caught yesterday and lost a serious bunch of dollars. The sneaky pressure should last for two weeks in order to discourage speculation and control the bubble.

How did he get caught? And wad he arrested and booked?

[MataHari]

10 to 1 yesterday was awful unless he's thinking long.

Very Long!

Realize that Chicas that were 940 yesterday are not going to be 870 now . And worse !

TL.

I m not investing, TL, I m leaving the country for a few month and cashing out. Bought the pesos at 9.80 last week and didn't want to make a lame 20 dollars profit on a forum member. Didn't want to bother with small notes as well so rounded it up to 10. Cold temperatures in a big town always remind me of Christmas time; o).

Thanks for the café and the interesting informations, Tomaso!

PS : meanwhile take care with dollar calls in the microcentro, there are some police officers in disguise in the lot. Only trade with verified sources. My home delivery guy got caught yesterday and lost a serious bunch of dollars. The sneaky pressure should last for two weeks in order to discourage speculation and control the bubble.

[TejanoLibre]

I got 8.7 for 200 at my chino.

$8.70 today at the place next door to La Mad.

Told me the peso is freaking out!

You did well.

10 to 1 yesterday was awful unless he's thinking long.

Very Long!

Realize that Chicas that were 940 yesterday are not going to be 870 now . And worse !

TL.

Carlos Pellegrini 787.

Turismo Dalman.

Drop Tejano Libre's name for best rate.

I hope! I Think?

It's close enough and easy to find but it's closed on Sat. And Sun. And closes at 5:30 pm on the other days.

FAKE PESO ALLERT :

A counterfeit ring was busted in BA today with 172k in fake bills , new and old hundreds .

1 counterfeiter and 3 buyers that bought them for .23 and sold them on the "Street" for ?

23 peso hundreds.

TL

[Brock67]

I got 8.7 for 200 at my chino.

8.6 for 40 USD (yes, forty) on Florida w / Lavalle.

10.6 for 10 EUR.

I don't pretend to understand...

[Daddy Rulz]

I got 8.7 for 200 at my chino.

[Daddy Rulz]

Are we going to end up with yet a third market?

There is the "official" rate 5. Whatever.

Now due, I understand to Gov pressure (though I wonder if somebody didn't release some dollars into the market to create a glut) the blue rate is in free fall, based on Dollar Blue I expect to get around 8.1-8.2 today but haven't changed so I don't know what it will be.

Will there now emerge a "Puce", or maybe "Vermillion" market to again trade freely.

I for one am taking my lumps, trading a couple hundred today at whatever I can get then hunkering down and hording the rest until the silly season passes.