Originally Posted by loosehead
(Post 34369025)
Just arrived in BA today with family and having tried to read in these and TA forums about changing Blue dollars, I felt unclear/uneasy about the whole subject. After checking into hotel, I asked the concierge if he could tell me how to do it safely, and he said, if I didn't mind getting a slightly lower rate, someone from a legit bureau would come to hotel and swap for me there and then. so 30 mins later, I'd swapped $400 at 210, which I was very satisfied with. To illustrate, we had to queue to get some Pesos at airport for initial expenses, and change at $1 = 122 (-10% tax). Also we did a quick look at Calle Florida where lots of the casa de cambios and their hawkers are located, and knowing we would easily be identifed as inexperienced travellers/changers, I was very happy to avoid that experience.
But in this case, my thoughts go to 1) how do I know that I'm not being given counterfeit money in exchange for my dollars and 2) how do I know that Guido isn't going to simply punch me in the head, take my dollars, and send me on my way? So far, the potential savings just haven't motivated me to take that risk. I'd love to see a more in-depth "tutorial" on how to do this safely, but mostly the talk on here is just "go trade your USD for Blue Dollars at Calle Florida" but with little details or specific guidance on how to do it safely and not get taken. Regards |
Potential solution: speak with locals in your neighborhood. Find a local spot and change there! The one that I go to has bulletproof glass, mostly locals, counting machines (and on occasion a police man outside)! Nice friendly guys as well!
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The one we have found has a nice older gentleman, glass, and a counting machine with digital reader. I stand next to my DH, and we count/watch/act together. We are very situationally aware. I'm a tall, not petite woman who all my life has felt my confidence has come in part with my phyiscal presence. I just don't look like a "shrinking violet". I know it's not foolproof, ad anybody can have a bad experience, but so far, we've been good.
While we've ben here, we've golfed quite a bit. We have played more than once with a pilot. They too, have someone come to the hotel to change money for the crews. Also when we first got here, we did a free walking tour, and the guide had the name of a woman he recommended. |
Dólar Blue at 235 - 238 Spread
Time to visit Argentina, as Gaucho 100K and others recommend!
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Originally Posted by scubadu
(Post 34378040)
Appreciate you sharing this and I've had similar feelings. I read numerous and breathless accounts around the internet and on Youtube about the awesomeness of the Blue Dollar market. However, I remain a bit hesitant in attempting to benefit from it. My wife and I are very seasoned travelers, traveling all over the world, including a few trips to BA over the years. We are also pretty "brave" (at least I suppose by some standards). But all that said, I remain a bit nervous with the idea that I'm just going to stroll down Calle Florida, with a wad of US dollars in my pocket and step into "Guido's back office" to exchange money. As mentioned, I'm not really someone prone to fear or paranoia, and frequently travel to places that many do seem to fear. But I also believe part of my success in those endeavors is I try very hard to be careful about putting myself (and particularly my wife) into unnecessarily risky situations. I am always looking over my shoulder and try to maintain situational awareness.
But in this case, my thoughts go to 1) how do I know that I'm not being given counterfeit money in exchange for my dollars and 2) how do I know that Guido isn't going to simply punch me in the head, take my dollars, and send me on my way? So far, the potential savings just haven't motivated me to take that risk. I'd love to see a more in-depth "tutorial" on how to do this safely, but mostly the talk on here is just "go trade your USD for Blue Dollars at Calle Florida" but with little details or specific guidance on how to do it safely and not get taken. Regards |
The community of cuevas would be wiped out if they gained a reputation of passing bad bills! I’d be more concerned about the taxistas!
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I would echo the suggestions above as to a good recommendation for a changer in the vicinity of your hotel. In my case, I inquired at the front desk and they recommended a very nice, official-looking place just a block away. It was clean, very well-secured and the exchange seemed very professional. I've also done the "backroom jewelry store" exchange in the past and that was perfectly fine as well.
Occasionally, I've had to "top off" and in those circumstances I've been fine with changing just a single $100USD in a local cambio shop. The other thing we've done on trips is simply ask at restaurants/shops if we can pay in USD. In most cases, they've been fine with that and usually respond that the change will be in ARS (which is what I wanted anyways) and quoted the rate (usually something less than the full Blue rate, but significantly more than the official rate). This was actually pretty helpful and I'm not usually trying to eke out the last penny on the exchange. |
Originally Posted by Flying Machine
(Post 34380792)
The community of cuevas would be wiped out if they gained a reputation of passing bad bills! I’d be more concerned about the taxistas!
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Interesting Article from Buenos Aires Times
Interesting Article from Buenos Aires Times. (Bloomberg)
Analysts see a potential +300 Blue Rate later in the year. https://www.batimes.com.ar/news/econ...aluation.phtml |
Originally Posted by spainflyer
(Post 34379830)
Time to visit Argentina, as Gaucho 100K and others recommend!
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Originally Posted by HIDDY
(Post 34385701)
Has to be said prices don't just stand still. When the blue rate rises the prices for everything rise as well. Been that way since I came to live here15 years ago.
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Originally Posted by Eastbay1K
(Post 34387226)
Yes, that is quite true. But at least for my two trips earlier this year, the inflation hadn't quite kept up with the currency devaluation, making many things quite inexpensive.
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We got here Feb 26th, and will be leaving this Monday July 4th. When we arrived an empenada was 55 pesos. Now, when we walk by the same shop it's 75.
Shampoo and toothpaste have go up, but still cheap compared to the US. It has been a very cheap place to live for the past 4.5 months. Off to Peru next. |
Originally Posted by stan1162
(Post 34387656)
We got here Feb 26th, and will be leaving this Monday July 4th. When we arrived an empenada was 55 pesos. Now, when we walk by the same shop it's 75.
Shampoo and toothpaste have go up, but still cheap compared to the US. It has been a very cheap place to live for the past 4.5 months. Off to Peru next. |
Need some advice on two questions
Coming in for a split vacation with 3 days in BA and 7 days in Bariloche. Is it as simple to change USD to blue pesos in Bariloche as it is in BA? (I personally have always used the concierge to bring someone in to exchange, I never experienced a lower rate. In regards to accomodations. I assume the best way for hotels is to book it 'reserve now and pay later' in pesos at checkout. Does anyone have any ideas or experience on how to book Airbnb or VRBO and not prepay via credit card? Basically, how can someone book Airbnb/VRBO and take advantage of the blue rate? |
Originally Posted by elusive1
(Post 34390404)
Does anyone have any ideas or experience on how to book Airbnb or VRBO and not prepay via credit card? Basically, how can someone book Airbnb/VRBO and take advantage of the blue rate?
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Originally Posted by Eastbay1K
(Post 34390453)
I wouldn't be surprised if it as elusive as your name. Why? I expect that a fair # of the funds from these bookings never enters Argentina, and accordingly, US$ based, not based on some AR$ conversion rate.
Looks like its either a handful of hotel rooms or bite the bullet and pay full rack on an Airbnb |
Originally Posted by HIDDY
(Post 34387262)
Been a big hike in prices in everyday goods the last couple of weeks. The worst I've ever seen it.
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Originally Posted by GUWonder
(Post 34390893)
Just curious about how far back your perspective goes. It was a textbook case of hypertension-inducing hyperinflation during the 1980s into at least around the first US-led Gulf War. Viola had exchange controls too, but I don’t recall how they functioned.
The real estate market is as good as frozen right now, which is quite telling as to the actual state of the economy. As a tourist, it remains a decent and enjoyable value. |
This was posted on Ambito. No disrespect to my Argentine friends, but throughout the world we are all suffering inflation! Some more than other, however we are all suffering
https://cimg3.ibsrv.net/gimg/www.fly...a56981282.jpeg https://www.ambito.com/opiniones/dol...vitar-n5476683 |
Eastbay1K The real estate market is as good as frozen right now, which is quite telling as to the actual state of the economy.
I’m a little confused by that statement can you elaborate. Is this a good time for people whom have dollars to purchase real estate in Buenos Aires? Specifically Apartments? |
Never expected this!
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Critical times ahead!
I really liked the work of Martin Guzman. Critical times lie ahead: https://www.ambito.com/finanzas/dola...rcado-n5477137
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Successfully done thru Western Union about two weeks ago. Rate was 238. Actual rate a bit lower with their fee. Thank you. Very fast. Transfer took two days to arrive in BA checking account.
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Blue Dollar Jumps 20 Pesos Over the Weekend
From 232 to 252 to the USD. Spread is now 252 - 268, indicating very high volatility. Spread is usually 3 pesos.
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Spread now 270 - 280. Ouch!
Cronista, the business newspaper is reporting 270-280 spread, with the departure of Martín Guzmán.
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Originally Posted by spainflyer
(Post 34395491)
Cronista, the business newspaper is reporting 270-280 spread, with the departure of Martín Guzmán.
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Are the cuevas even open today? It seems like with so much volatility someone has to get burned. Even 2% is a significant movement, and the dólar blue has moved 10% and the contado con liqui 12%. A good narration of hour-by-hour fixings at Cronista:https://www.cronista.com/finanzas-me...ion-cambiaria/
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Cuevas are open 7 days a week - trading on non financial market days (ie. holidays and weekends) will usually mean you have to absorb a higher spread (rates will be less competitive), but you will certainly be able to trade your hard currency for Pesos.
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Originally Posted by Flying Machine
(Post 34391363)
I really liked the work of Martin Guzman. Critical times lie ahead: https://www.ambito.com/finanzas/dola...rcado-n5477137
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Originally Posted by Gaucho100K
(Post 34417961)
The reason Argentina has been in "critical times" is because of the likes of Martin Guzman and his "national & popular" Peronist (K)orrupt gang of thugs. Nothing at all to be liked about Mr Guzman...... sadly, nothing is going to change for the better until this "government" gets ejected from office (or so I hope) come the next elections.
He was a researcher at the Columbia University School of Business and Director of the Public Debt Restructuring Program of the Policy Dialogue Initiative of the same School. In fact you have to give him credit for the restructuring work with the IMF, private investors and the Paris Club. |
Well, the worst now anyone has to worry about with a taxi scam is well under US$4. We are getting back to the "Sir, are you happy to see me, or is that just the money you'll need to pay for dinner in your pocket" department. I'll be curious to see the price of the "run of the mill empanada" in a month. That's my first point of reference for inflation v currency devaluation.
This year so far has been an excellent opportunity for tourists. |
Cost update
Originally Posted by Eastbay1K
(Post 34431359)
Well, the worst now anyone has to worry about with a taxi scam is well under US$4. We are getting back to the "Sir, are you happy to see me, or is that just the money you'll need to pay for dinner in your pocket" department. I'll be curious to see the price of the "run of the mill empanada" in a month. That's my first point of reference for inflation v currency devaluation.
This year so far has been an excellent opportunity for tourists. |
WU is at $300 today, for those interested in WU transfers.
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The brown is hitting the fan. Again. DolarSí is still quoting a 302-307 spread, but Cronista has moved the needle to 312-317. This disparity implies a lot of chaos and even more uncertainty in the market, as normally the Dolar Blue fixing is arrived at by consensus among major cuevas and the Microcentro.
On a related matter, can Gaucho 100K or anyone else quote an up-to-date price for a dinner (bife de chorizo, papas fritas, ensalada verde, panqueque de manzana, medio litro de Malbec) at a good but not outrageous Bs As restaurant? All menus posted on Google Images are out of date almost as soon as they are printed... Seems like now we can't afford not to visit Argentina! |
Originally Posted by spainflyer
(Post 34444392)
The brown is hitting the fan. Again. DolarSí is still quoting a 302-307 spread, but Cronista has moved the needle to 312-317. This disparity implies a lot of chaos and even more uncertainty in the market, as normally the Dolar Blue fixing is arrived at by consensus among major cuevas and the Microcentro.
On a related matter, can Gaucho 100K or anyone else quote an up-to-date price for a dinner (bife de chorizo, papas fritas, ensalada verde, panqueque de manzana, medio litro de Malbec) at a good but not outrageous Bs As restaurant? All menus posted on Google Images are out of date almost as soon as they are printed... Seems like now we can't afford not to visit Argentina! |
The spread is now 326-336 , but no one I know has changed at those rates
WU at 307· |
Interesting
The govt is going to allow foreign tourists to sell up to U$5.000 at the “blue” rate. Uruguay did something clever. You can get a Master Card prepaid card in dollars and as you use it they discount your peso purchases from the card at the CCL rate, which sometimes is even higher than the “Blue”.
The above is a message from a friend in BsAs The story is developing does anyone on the ground have any other information? Update from LA Nacion: https://www.lanacion.com.ar/economia...l-nid21072022/ |
LA Nacion Article Translation
Tourist dollar: how the new exchange rate and the ruse of the Government would work to avoid a bad drink - THE NATIONThe Central Bank will launch in the coming hours, after its board meeting, a new exchange rate in Argentina. It will be for tourists who visit Argentina from abroad and have two outstanding objectives: to allow the Government to redirect to a legal market currencies that until now were mostly illegal and lower the price of the dollar called MEP, which is obtained through an operation to buy and sell bonds on the stock exchange.The new dollar for tourists would work as follows, according to the clarifications that LA NACION obtained in the early afternoon, when several details had yet to be resolved. The tourist who approaches a bank will sell his dollars and receive pesos. If I did that operation today under the new modality, I would get exactly $330.23 at 14.04. It is 143% more than the $135.75 you would receive in the official market at the same time. In other words, it would be very convenient for you. The Government will now try to amend a mistake it had made in October last year. Overwhelmed by an adverse exchange rate situation, he put in place a mechanism for tourists arriving in the country to open a local bank account where they were liquidated at the value of the MEP dollar. The proposal was a failure, since almost no one made progress in opening those accounts. The reading of the market is that it was much more cumbersome to come to the country for a handful of days and go to the bank to do the paperwork than to go to a small tree on Florida Street and change the tickets outside for a good price. That's why the operation would now fall on the banks. The tourist who presents his entry passport to the country would sell his dollars and receive an amount of pesos. With the newly entered currencies, the financial institution would buy a dollar bond - for example, the AL30, although it is not yet defined - which it would then settle in pesos. That is, the tourist would not be part of a gear that would fall on the side of the banks. The financial world is discussing alternatives at this time to change systems and make the operation less cumbersome for banks. An alternative is for each entity to make an operation to buy and sell those bonds per day, adding up all the tourist operations that have been carried out. In this way, the work of the money tables would be reduced. The Government's measure is assimilated to a exchange rate split. It is a dangerous concept in economics, a discipline, it is known, in which it is very discouraged to have more than one price for a certain good. In this case, the dollar. In Argentina, this practice brings bad memories to politics. For example, one of those who applied it is Celestino Rodrigo, Isabel Perón's well-known Minister of Economy. It was part of yesterday's and today's discussion between Silvina Batakis and Miguel Pesce, president of the Central Bank. Pesce's gaze prevailed, which exposed the evidence of the past: there are no successful examples of unfolding, since they all end in a sudden unification of the exchange rate. That is, a devaluation. The Central Bank gives as an example the transition from Cristina Kirchner to Mauricio Macri. The new government unified the exchange rate, previously intervened, which increased. That year, inflation ended above 40%. Although the tourist would put his dollars and receive pesos, it will not be an exchange transaction in practice. That is because behind that operation there is another one: the purchase and sale of securities, which is much more like a transaction on the stock exchange. They are nearby, but different planets that will serve Alberto Fernández to deny, at least as long as the dollar storm allows it, the existence of a split. The validity of the new tourist dollar will swing at a hypersensitive point for the Government. The MEP is one of the two major financial markets (the other is the cash with liquidation, to withdraw or bring dollars into the country). It has an impact on expectations. In other words, an increase in that price irrigates the belief that a devaluation will occur. If tourists pour their dollars into the MEP instead of the blue, they will increase the supply and, therefore, its price would decrease. In other words: the gap with the officer would narrow, one of the curses that weigh on the economy of Alberto Fernández and Cristina Kirchner. There are, however, many doubts. Penance could be in sin. Since tourists would turn their dollars to that market, the supply in the blue would be reduced. If that line followed the logic of the market, it would tend to rise, unless a shrinking gap contains it. These are things that will only be solved when the new system rolls. There is also a simpler and more immediate uncertainty: why should a tourist sell his dollars in the bank when a small tree pays him more, as is happening right now in the city, where he trades at $336? Hat Tip: Apple Translator |
The big question is will the government get the system up and running and will the banks collaborate? The government failed miserably with their Special Account - not one was opened.
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