ziobacio

Is it possible that Xoom is converting dollars->pesos in an international currency market where the peso has lost even more value than shown on dolar blue? If Xoom offers A$6.02 for US$1, then they must have gotten the pesos even cheaper.

Gaucho100K

The Argentine Peso is not considered a convertible currency... so there are no direct trades between the Peso and any major international currency outside of Argentina. The only exceptions to this are some very limited physical cash trades that are executed in the border cities of Paraguay, Bolivia, Uruguay and to a more limited extent, Chile & Brazil....

However, there are various "synthetic" financial trades involving various types of securities and in some cases derivatives that make it possible to hold positions and effectively trade in the Argentine Peso... it would take me a while to explain this in relevant detail and it will probably bore most all here unless we happen to have a VAR geek and/or someone that sits on a trading desk.

Krazyglue

I sent my chica 1800 pesos and o tipos her ńame, the guy tríes to soy he paid her and marked the transaction complete.

I called zoom and went of this is totally the argentine way of scamming a not so street smart girl from the provincial.

I got my moey back but my girl never wants to go there again", this was the place on libertaad. It takes her 2.5 hours on the train from Los polvinios. Only to get nothing or feel ripped on and she knows it stressed me and i just had a small stroke.

Xoomdid give me the money back cause she never signed the recipt and they could not prove payment.zz hope they fire rthe ladron at MOOREMT. You have to sign two recipts FYI don't sign anything until you hav money in your pocket!

Middlebeiz

I eventually found the MoreMoney in Mendoza (thanks, @soflyon). However, every transfer I tried to make from Xoom was cancelled the same day. So it was a lot walking around for nada. For the record it is the Galeria Tonsa, down one floor from the entrance, on the southwest side.


I did get to Buenos Aires today and made my way to Libertad 1057. My money was there waiting for me, no problem. Thanks, FTers.

ijim

Hello,

So no body tried More Money Transfers in Mendoza? Please, is somebody tried and was successfully please post here, thank you!

ijim

Gaucho100K

I suggest trying to contact Miguel Sanz, he posts on these boards. Maybe he can assist you.

Middlebeiz

I'm fairly certain that my post above yours indicates that I have tried MoreMoney in Mendoza with no success. Perhaps others have been successful but I had no luck.

As with most things Argentina, I defer to Gaucho100k.

I hope you have more luck than I had.

carride

Yes I was able to pick up money at the MoreMoney branch in Mendoza today. I signed up for an account on Thursday. 24 hours later they emailed me that they needed to confirm I was really the owner of the USA bank account which I was sending from. On Saturday the transaction was ready for pickup in the Xoom account, but in Mendoza they needed confirmation from the MoreMoney Buenos Aires office which was closed. I think this is because I was picking up more than 5K pesos.

Today after waiting 20 minutes I had my pesos from a ~5.9 conversion rate. MoreMoney is in the travel agency Zesal (I think they specialize in travel to Peru via bus). Av. San Martin 1173, Galeria Tonsa, loc. Venus 26, PB Mendoza. The lower floor of the mall. The hallways all have names, and agency Zesal is in hallway "Venus", #26. I found it easier to walk in to the lower level from the back entrance on San Juan 1173.

Flying Machine

$5.73 ARS to the U$D today with all the fees included. Not bad based on $1000 U$D and $30 Transfer Fee. As an aside, The US Post Office has a similar plan by the name of Sure Money ( you do need to go to a US Post Office and Pay with a Debit Card, and only a few branches have the Sure Money System ) https://www.usps.com/shop/wire-money...nationally.htm Fees are low as well.. Banco Frances is the Pick Up Point ( claims 231 Branches ) In the Past Banco Frances gave out U$D now only ARS and at the Official Rate of the Day ( since January or so..)Xoom seems pretty good.. The Remittance Game is changing.. Thanks and Safe Travels

EZETravel

6.1 AR$ to USD today

Gaucho100K

Please please... be careful with reporting rates and not going into details. The above rate is the approximate value of the SELL rate for US Dollars.... ie. its the amount of Pesos that you (in theory) had to pay today to buy one US Dollar. For folks wanting to get pesos, you have to apply the appropriate spread (which has gotten very wide these days).

Therefore, while this figure is nice to know, its relevant to explain that folks wanting to get Pesos for their Dollars need to be careful with expecting to get the sell rate for their currency. Also, it must be said that the informal market is quite small today and price and spreads are all over the place, and prices will vary according to the delivery service that may be provided... ie. its not the same to have to go into the financial district to sell your Dollars than it is to have someone close a trade and deliver your Pesos (and collect the USDs) from Palermo or Barrio Norte.....

Bottom line... the devil is in the details.

EZETravel

You are correct. If you are well connected today they were paying for each dollar 6.05 and selling each dollar at 6.12

Gaucho100K

That sounds about right for the opening hours of trading (on Friday 7/13).... the market apparently went a little up from those levels. However, there will be differences from trader to trader and also, as I detail above, it depends on if you want to have the trade be delivered or if you are willing to go to the "office" of the person you are transacting with.

Its important to note that there is no true or fully transparent price for the blue market Dollar.... to give an example if you open the large circulation newspapers this morning, one publication says the sell rate closed at 6.17 while another speaks of 6.14 ad there is a third that saye 6.12 - then you have each paper quote a different buy/sell spread..... in the end, the only real value is the figure you get quoted when you actually place the trade, all the rest is speculation.

I dont remember if I mentioned this, but also, you have to consider the actual position that a trader that you call is holding at the time you call him to trade, since this is a 100% physical cash market (with the bills trading hands), you will also have price differences depending on where the trader's happends to be standing.

I have various clients in the financial district that are ForEx traders and they are the first to acknowledge that this is a very thin market with very wide spreads. If you want to get the best possible rate, you have to shop around.

ziobacio

For those of us with only some castellano who visit for short periods, it looks like xoom is a great alternative to las cuevas y los arbolitos -- it's A$5.99 per USD today, before the fee.

Krazyglue

I was offered 6.05 with a cambio guy off of Florida this morning.