Where/how to get dolar blue exchange rate?
#61
Join Date: Dec 2005
Location: South Florida
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Posts: 1,334
The guy that I know is also located on Florida street, he will pay the "BLUE Compra Rate" that you will find on dolarblue.net, plus this guy work on Saturday and some Sundays.
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
#62
Join Date: Mar 2007
Location: YYZ
Programs: AAdvantage, Aeroplan, Flying Blue
Posts: 662
The guy that I know is also located on Florida street, he will pay the "BLUE Compra Rate" that you will find on dolarblue.net, plus this guy work on Saturday and some Sundays.
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
Although the Argentine government has accelerated the devaluation of the peso according to the official exchange rate (dollar sell rate is now 6.815) the gap between the official and blue rates has widened to over 70%.
The irony is that last year, as the gap widened between the official and blue rates, President Cristina Fernandez issued a blunt public statement to the effect that anyone wanting a devaluation was going to have to wait for the next government. Well, it's happening now as Economics 101 triumphs over left-wing populism.
I have a lot of friends in Argentina and I am sorry to see their currency evaporating like this.
#63
Join Date: May 2004
Posts: 2,660
According to the website of the La Nación newspaper the "blue" rate hit 11.8 pesos to the US dollar today. "Imparable" (unstoppable) is the way they characterized the peso devaluation.
...
I have a lot of friends in Argentina and I am sorry to see their currency evaporating like this.
...
I have a lot of friends in Argentina and I am sorry to see their currency evaporating like this.
Also sorry (for the sake of Argentine friends as well) to see this happening, but then it's certainly no surprise.
#64
Moderator, Hertz; FlyerTalk Evangelist
Join Date: Nov 2005
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We got 9.8 less than 3 weeks ago. That's a huge devaluation in such a short time!
#65
Join Date: Mar 2007
Location: YYZ
Programs: AAdvantage, Aeroplan, Flying Blue
Posts: 662
There are a couple of issues at play. First, it's January, the vacation season for Argentines, many of whom wish to take their vacations outside Argentina. But it is next to impossible to exchange pesos for dollars in the formal system, so Argentines resort to the "blue" market. Hence the demand for dollars is spiking which depresses the value of the peso.
Were it only that, you'd expect the peso to stabilize once vacation season ends. But will it? Maybe not. The other issue is that the government has accelerated the devaluation of the peso in the formal marketplace in an attempt to stem the flight of dollars from the country (the foreign exchange reserves of the Argentine central bank have just fallen below the psychologically significant level of US$30B, from over $40B just a year ago). But the accelerating devaluation causes Argentine importers to rush to exchange pesos for dollars to make their foreign purchases, since they know that the dollars will cost more tomorrow. Meantime, exporters are holding off as long as possible before converting their dollar export earnings into pesos (which is required under Argentine law). Both actions increase the demand for dollars and further depress the peso in the "blue" market.
This is not going to end well. But if you've got some capital sitting around earning zero interest in the US, just wait a while until the whole Argentine house of cards collapses, then move in to buy a nice apartment in Recoleta on the cheap. It will prove to be a good investment.
#66
Moderator, Hertz; FlyerTalk Evangelist
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I should buy a finca in Mendoza...
#67
Join Date: Sep 2001
Location: Hyderabad
Posts: 4,843
The guy that I know is also located on Florida street, he will pay the "BLUE Compra Rate" that you will find on dolarblue.net, plus this guy work on Saturday and some Sundays.
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
The rate that I got on Dec 30 was 9.60 and I remember that the rate on dolarblue.net was 9.59 for compra (if you need to sell u$s) and 9.89 for Venta (if you need to buy u$s).
Just wish I had known that I could have made the exchange on a weekend (I never asked, just assumed I couldn't).
#68
Moderator, Argentina and FlyerTalk Evangelist
Join Date: Aug 2000
Location: MIA / EZE
Programs: Lord of Malbec & all Wines Argentine. AA EXP / Marriott Lifetime Silver / Hertz Presidents Circle
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There are plenty of Bodegas and Finca's up for sale in Mendoza. Just make sure you know what you are doing.
The wine business, as a producer, is an excellent way to make your a Millionaire.
Provided that you started out as a Billionaire.
The wine business, as a producer, is an excellent way to make your a Millionaire.
Provided that you started out as a Billionaire.
#69
Moderator, Argentina and FlyerTalk Evangelist
Join Date: Aug 2000
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Real Estate in Argentina can certainly offer some very good opportunities right now and in the coming months. You do, however, have to make sure you know what you are doing, and there are various details that must be taken care of properly and with attention to detail. Also, remember that Real Estate is considered the ultimate reserve value in Argentina, so prices in what is pretty much a 100% equity market are not as flexible as you would expect in a market that is levered like in the US or Europe.
#70
Join Date: Feb 2002
Location: SFO, EZE
Programs: UA 1K 2.32 MM
Posts: 2,425
Real Estate in Argentina can certainly offer some very good opportunities right now and in the coming months. You do, however, have to make sure you know what you are doing, and there are various details that must be taken care of properly and with attention to detail. Also, remember that Real Estate is considered the ultimate reserve value in Argentina, so prices in what is pretty much a 100% equity market are not as flexible as you would expect in a market that is levered like in the US or Europe.
#71
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Location: Over the Bay Bridge, CA
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#72
Join Date: Feb 2002
Location: SFO, EZE
Programs: UA 1K 2.32 MM
Posts: 2,425
http://www.nytimes.com/2014/01/22/bu...l?ref=business
#73
Moderator, Hertz; FlyerTalk Evangelist
Join Date: Nov 2005
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You should probably consider a luxury hotel as well. It seemed to work out for a former investment banker (well one that worked for Goldman Sachs) so YMMV
http://www.nytimes.com/2014/01/22/bu...l?ref=business
http://www.nytimes.com/2014/01/22/bu...l?ref=business
Looks like my next project!
Though I wonder how bad it really is buying a small piece of land and just growing/harvesting a small amount? Not making a profit, but not losing money. Land seems to be quite cheap (compared to other parts of the world). At worse, build a house on it and have a place to vacation with great wine.
#74
Join Date: Sep 2001
Location: Hyderabad
Posts: 4,843
Looks like my next project!
Though I wonder how bad it really is buying a small piece of land and just growing/harvesting a small amount? Not making a profit, but not losing money. Land seems to be quite cheap (compared to other parts of the world). At worse, build a house on it and have a place to vacation with great wine.
#75
Join Date: Mar 2007
Location: YYZ
Programs: AAdvantage, Aeroplan, Flying Blue
Posts: 662
Me too, but I'd do it over the Andes in Chile where the land may be somewhat more expensive but the currency can be trusted, the rule of law (generally) prevails and the climate is nicer. The food? Well, let's just say that Chile is catching up, but not there yet.