Originally Posted by
Gaucho100K
Its not only the closing of financial positions... there has been plenty of retail demand for USD over the past 2-3 weeks... you can see the lines outside banks and exchange bureaus all over the city.
I was actually surprised that when the BCRA drove the exchange rate down to just above 3, that more folks didn't convert their pesos into dollars, since it was obvious (at least to me) that those levels couldn't last for long given the inflation problems.
John