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Montevideo, September 26th 2018 - 05:04 UTC

US dollar in Argentina reached 10 Pesos ahead of Sunday's mid-term election

Wednesday, October 23rd 2013 - 01:36 UTC
Full article 24 comments

The US dollar in Buenos Aires reached on Tuesday 10 Argentine Pesos (buying price) and 10.05 pesos (selling price) in the informal market, 15 cents higher compared to its last closing price, pushed by the tourist sector, and as the government crackdown on the so called city “exchange caves” eased up. Read full article

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  • yankeeboy

    And this is with strict controls and La Campora storm troopers attacking the sellers.
    What will happen in Nov?
    I think I know

    Oct 23rd, 2013 - 02:20 am - Link - Report abuse 0
  • Dominic H.

    Think of the arbitrage opportunity for Argentinians. Buy dollars at the official price and sell them at the unofficial price. It's nearly a 100% margin!

    Oct 23rd, 2013 - 07:25 am - Link - Report abuse 0
  • Usurping Pirate

    @2 ..... It's the govt. doing it, silly .They are the only ones who can actually get hold of dollars to sell in the first place .

    Oct 23rd, 2013 - 08:14 am - Link - Report abuse 0
  • Welsh Wizard

    This is BS. Friends and family told me that they sold their US$ for 11.50 about a month ago

    Oct 23rd, 2013 - 08:30 am - Link - Report abuse 0
  • sammy

    argieland is a dollar madhouse,I think in all other countries the greenshit is dropping.In UK it was £=1-48 couple of months ago now £=1-62 a drop of 14cents,but in cristinas queendom it rises,sorry just the peso is worthless.

    Oct 23rd, 2013 - 10:43 am - Link - Report abuse 0
  • yankeeboy

    Welsh, There's probably better rates in hotels, restaurants etc. At some point people will get desperate to get out of the Peso at any price.
    Businesses are predicting a 10/1 official exchange in 2014
    My guess is street will still be double that

    Oct 23rd, 2013 - 12:50 pm - Link - Report abuse 0
  • CaptainSilver

    Well, we all said it would soon be 10 RG pesos to the $ very soon, and guess what, here it is!

    Lets take bets on what it will be AFTER the so called 'elections'. Any advance on 12?

    Oct 23rd, 2013 - 01:10 pm - Link - Report abuse 0
  • yankeeboy

    They'll be lucky to keep it at 12/1. Just look to Venezuela that was the K model.
    Chrissy is currently working on the book “ How to destroy 3 generations of wealth in just over 10 years”

    Oct 23rd, 2013 - 02:35 pm - Link - Report abuse 0
  • ChrisR

    @ 8 yankeeboy
    Remember this:
    ”6 ChrisR (#)Aug 21st, 2013 - 08:35 am
    5 yankeeboy
    “Anyone want to guess the exchange rate after the elections?”

    Official rate: 15

    Blue rate: 20 and upwards.

    You heard it here folks!“

    I think I will be ”on the money”.

    Oct 23rd, 2013 - 03:23 pm - Link - Report abuse 0
  • Welsh Wizard

    @9
    I don't think that they will devalue. It is policy of this government NOT to devalue. I know that it is an utterly crazy policy but I don't think that it will change straight after the election. Afterall, they know that if they devalue it will feel like 2001 all over again and they will be out of power the next day. They will run the country further into the ground before they do this. It will be the perfect example of cutting off your nose to spite your face.

    Oct 23rd, 2013 - 03:44 pm - Link - Report abuse 0
  • Brasileiro

    The dollar is the only currency in the world that the more one appreciates more loses importance.

    The U.S. economy is very swollen. Living speculation. The gap between rich and poor is increasing.

    Oct 23rd, 2013 - 04:07 pm - Link - Report abuse 0
  • yankeeboy

    10. It was also a policy not to pay ICSID or negotiate with the holdouts.
    Never say never

    11. Use a different translation site, your posts make you sound moronic.

    Oct 23rd, 2013 - 04:23 pm - Link - Report abuse 0
  • Brasileiro

    @12

    You are spoiled to see the world through the English language. More important than knowing how to speak is listening.

    Develop your reasoning. Or you keep questioning what I wrote.

    Oct 23rd, 2013 - 04:28 pm - Link - Report abuse 0
  • Welsh Wizard

    @12 I know, but to the man of the street this is the most emotive and the most immediate. I'm not saying it makes any sense but I think that it is the last thing that they will do as there is no way that they can reconcile a devaluation with their mantra of 10 years won.

    Oct 23rd, 2013 - 04:28 pm - Link - Report abuse 0
  • MagnusMaster

    @14 after the elections there will be a de facto devaluation with two rates: the fictional one and the real one which will be a “tourist dollar” at 8-10 pesos. But that will only let them delay the collapse until late 2014 as the blue dollar will depreciate to infinity and beyond. CFK´s idea is to make the economy collapse when the next term begins. Even if she doesn´t get into power she´ll ruin the country out of spite.
    The problem isn´t what happens next year or in 2015, but what will happen AFTER. Will it be same old same old?

    Oct 23rd, 2013 - 05:25 pm - Link - Report abuse 0
  • ElaineB

    @13 If you are writing in the English language - the leading international language - you need to make sense in that language. I realise you are trying to make a point and it may be valid but if your posts make no sense no one will take any notice.

    Oct 23rd, 2013 - 06:41 pm - Link - Report abuse 0
  • Brasileiro

    @16

    Same answer for you. I thought you were more original.

    Oct 23rd, 2013 - 06:47 pm - Link - Report abuse 0
  • yankeeboy

    13 Brasileiro, How do you expect me to listen to and try to make sense out of random words strung together that have no meaning?

    Cat house ride good
    Does that make sense to you because that's how your posts read to everyone here?

    14. If they are following Venezuela's path, Magnus is probably right in that they will have different exchange rates based on what the “declared” use is supposed to be. V had (has?) 4 but surprise surprise only Gov't officials can get the lowest rate.
    Joys of being SA caudillo and minion

    Oct 23rd, 2013 - 06:50 pm - Link - Report abuse 0
  • Brasileiro

    @ 18

    I've explored all your capabilities, not found any. I think that's my problem. Sorry.

    Oct 23rd, 2013 - 06:55 pm - Link - Report abuse 0
  • Ayayay

    Could a person use Xoom or money orders to send dollars in?

    Oct 23rd, 2013 - 07:38 pm - Link - Report abuse 0
  • ElaineB

    @17 That makes no sense. Using infantile language like ' same to you with nobs on' really does not work outside of a playground. I was giving you some friendly advice but now I shall ignore you, as I am sure most people will.

    Oct 23rd, 2013 - 07:43 pm - Link - Report abuse 0
  • Brasileiro

    @21 Online

    Liar and arrogant!

    Oct 23rd, 2013 - 09:18 pm - Link - Report abuse 0
  • The Chilean perspective

    Brasileiro.
    I would like to give you some friendly advice. Write your comment in Portuguese, then use the translator to change it to Spanish. Once you have done that cut and paste the Spanish text and translate to English. It will work better and it will help us because trying to understand your comments is very difficult as many make no sense.

    Oct 23rd, 2013 - 10:06 pm - Link - Report abuse 0
  • St.John

    Brasileiro don't be so darn touchy.

    Translate the Engliguês back to português and see what the problem is.

    Learn instead of getting upset.

    Oct 24th, 2013 - 08:24 am - Link - Report abuse 0

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