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USD/ARS Exchange hits new record high!

USD/ARS Exchange hits new record high!

Old Sep 2, 19, 8:14 am
  #151  
 
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Originally Posted by malagajohn View Post
The government has just announced some new emergency exchange controls

Residents are now limited to exchanging 10 thousand dollars a months.

Surely the blue dollar will explode tomorrow.........
Read that in the Economist Espresso this morning.
I need to buy some ARS notes for food, a retail FX place where I go to in London quoted selling ARS 63 = £1 today, but they won't buy ARS.

Last edited by A1pax; Sep 2, 19 at 8:19 am Reason: delete sentence - wrong destination
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Old Sep 2, 19, 8:27 am
  #152  
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Originally Posted by HIDDY View Post
To put it into perspective. Such measures will only really affect a tiny minority of the general public. The majority of people won't give a hoot.
I think it’s the greater effect that these measures may cause. For example, the majority of people will give a hoot, if it affects the exchange rate and inflation in their favor

Last edited by Flying Machine; Sep 2, 19 at 8:37 am
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Old Sep 2, 19, 8:37 am
  #153  
 
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Originally Posted by A1pax View Post
Read that in the Economist Espresso this morning. We have booked 2 private tour guides for 2 separate days for our trip to BA in mid September, and they wanted to be paid US$ cash - $280. So they will be OK, wonder if I should negotiate with them as the ARS has fallen more than 25% against the USD when I first made enquiries. I need to buy some ARS notes for food, a retail FX place where I go to in London quoted selling ARS 63 = £1 today, but they won't buy ARS.
Most professionals quote in USD .

Yes , the ARS has moved since you struck the deal . But prices have moved as well . If you did the deal in USD it's not very sporting to renege on that now.

63 for the GBP is not a great rate - a friend tells me that 68/69 is the rate in town for small transactions . When are you travelling ?

You can change GBP at Ezeiza when you arrive in the Banco Nación - official rates
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Old Sep 2, 19, 8:50 am
  #154  
 
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Originally Posted by malagajohn View Post
Most professionals quote in USD .

Yes , the ARS has moved since you struck the deal . But prices have moved as well . If you did the deal in USD it's not very sporting to renege on that now.

63 for the GBP is not a great rate - a friend tells me that 68/69 is the rate in town for small transactions . When are you travelling ?

You can change GBP at Ezeiza when you arrive in the Banco Nación - official rates
Thanks, malagajohn. I got the tour guide prices mixed up - they were for Rio de Janiero and not Buenos Aires Our trip to South America from next week encompasses Chile, Uruguay, Argentina and Brazil - I got somewhat confused with the different currencies. The rate ARS 63 was from Thomas Exchange where I have consistently got better rates than banks and other exchange centres. The amount of ARS which we need will be small, so it probably makes little difference overall. We have pre-paid for a lot of things already - mostly in USD, as we don't want to carry large wads of cash. Certain things we can pay with credit cards at destinations - so we have been told.
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Old Sep 2, 19, 9:29 am
  #155  
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From Gustavo Neffa


The official strategy of forcing exporters to liquidate, in addition to the restrictions on the purchase of retailers but especially legal persons for hoarding are working: official dollar down (futures being destroyed), but informal upward: increasing gap.

On a side note @DolarBlue just posted on Twitter after 3 years

and.. the Merval is up over 5%

good news all around today !
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Old Sep 2, 19, 10:10 am
  #156  
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Originally Posted by Flying Machine View Post


I think it’s the greater effect that these measures may cause. For example, the majority of people will give a hoot, if it affects the exchange rate and inflation in their favor
It's hardly anything new though. Yes there's bound to be some moans and groans from those with money to spare while queuing at the bank today but apart from that it's life as normal.
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Old Sep 2, 19, 11:10 am
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Blue is King today/ the gap between official and blue is 5 pesos at the moment
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Old Sep 2, 19, 4:20 pm
  #158  
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The formal rate recovered nicely today

$53.31 Bid
$58.41 Ask

The Blue Dolar

$59.50 Bid
$63.50 Ask
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Old Sep 2, 19, 8:11 pm
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We got 59 in Bariloche a couple days ago for USD (no minimum but traded in $100 USD in cash).

Chase hasn’t settled any of my CSR transactions yet so can’t say what they are using.

My one withdrawal was with Schwab on 8/29 (before they put a hold on my card which despite being lifted is still not working hence the need to make a dollar exchange). Looks it transacted at 57.30 net of ATM fee (which was refunded)
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Old Sep 7, 19, 6:26 am
  #160  
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What have exchange rates done since the new restrictions have been announced?
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Old Sep 7, 19, 10:33 am
  #161  
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Originally Posted by MSPeconomist View Post
What have exchange rates done since the new restrictions have been announced?
One can view this on XE.com
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Old Sep 9, 19, 10:21 am
  #162  
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The currency markets have calmed down a notch or two over the past week or so..... after peaking at over 2500, Argentine Country Risk dropped below 2000 in early trading today. By no means would I call things "rosy", but considering what some folks were expecting the first few days after the elections and given the subsequent measures that had to be introduced...... lets just say that most folks are enjoying the "tense calm" which appears to have settled in for the time being.

Stay tuned, things move quickly in Argentina, that is just how things are.... it will get interesting once the political campaign gets into full swing in the next couple of days.
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Old Sep 9, 19, 11:33 am
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Originally Posted by Gaucho100K View Post
The currency markets have calmed down a notch or two over the past week or so..... after peaking at over 2500, Argentine Country Risk dropped below 2000 in early trading today. By no means would I call things "rosy", but considering what some folks were expecting the first few days after the elections and given the subsequent measures that had to be introduced...... lets just say that most folks are enjoying the "tense calm" which appears to have settled in for the time being.

Stay tuned, things move quickly in Argentina, that is just how things are.... it will get interesting once the political campaign gets into full swing in the next couple of days.
And the ADRs have moved up handsomely :-) I’m happy :-)
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Old Sep 9, 19, 11:34 am
  #164  
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Originally Posted by Flying Machine View Post


And the ADRs have moved up handsomely :-) I’m happy :-)
For those investors out there YPF, GGAL, SUPV, BBAR Have been my friends last week or so
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Old Sep 9, 19, 12:48 pm
  #165  
 
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Argentines Make 7% Returns in Minutes Thanks to Capital Controls

- Investors take advantage of gap between peso and ‘MEP dollar’

- The move is legal and can be carried out several times a day

https://www.bloomberg.com/news/artic...pital-controls
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