MercoPress. South Atlantic News Agency
US dollar soars in Argentina and is just a few cents away of 9 Pesos in the parallel market
The US dollar in Argentina’s ‘blue’ or parallel market skyrocketed on Wednesday to 8.91 and 8.94 Pesos, beating the previous record of 8.75 Pesos from March 20, previous to Holy Week. The official rate meantime remained relatively stable and closed trading at 5.13 and 5.18 Pesos, which means the gap between the two markets stands at 71%. Read full article
Comments
Disclaimer & comment rulesWell it's amazing that the Peso still is in the sub 10 to 1 range...
Apr 24th, 2013 - 11:49 pm - Link - Report abuse 0Yep, there's money to be made here at the moment.
Apr 25th, 2013 - 12:01 am - Link - Report abuse 0It is the financial wild west here in Argentina.
vamos a todos!!
If your'e not taking advantage of Kristina's catastrophic management of the economy, you should be.
I wish I was still translating documents into Spanish for that mining company. Oh wait, they suspended their operations because they were tired of throwing away a quarter million USD a month to bribe some corrupt idiots to get their equipment through.
Apr 25th, 2013 - 12:57 am - Link - Report abuse 0Sure enough, if one corrupt scum bag is getting some coin, more start looking swarming like roaches for excuses to increase the “exception fee”.
I THINK I remember someone crowing about how the rate dropped after it reached its last peak in March and here we are again.... even higher.
Apr 25th, 2013 - 01:12 am - Link - Report abuse 071% difference between the “official” rate and the market rate.
Stupid politicians. Destroying the entire economy to pay off debt.
There's no devaulation coming to help the economy because Cristina can't do it.
Wait... wasn't it that debt should be paid at all costs??
Apr 25th, 2013 - 01:15 am - Link - Report abuse 0Or is this just more double-talk about the anglos, as usual?
And there you have Nostrils take on economics!
Apr 25th, 2013 - 01:37 am - Link - Report abuse 0No wonder this country is falling apart if this is what they teach at “university”.
Debt should be paid..... at all costs? What a dumbass thing to say.
Destroying your income base to pay back debt is an even bigger dumbass thing to do.
Of course it should, except debt that was picked up by opportunists like Singer, who will not see a cent, I'd say debt should be paid. I don't give a shit about the Italian and German elderlies that took our debt, but they should be paid the restructured amounts.
Apr 25th, 2013 - 01:39 am - Link - Report abuse 0@7
Apr 25th, 2013 - 06:14 am - Link - Report abuse 0Are you trying to deflect from the fact that your population would rather keep dollars than your own currency? Maybe they think something terrible is on the horizon the Argentine Peso will soon become worthless. Just a thought.
@7 Well, there's a lovely dumbass comment “I don't give a shit about the Italian and German elderlies”. So argieland preys upon those least able to defend themselves. But that's always the argie way. The Falkland Islands. Send FOUR naval task groups and 66,000 troops to overcome 1,500 peaceful civilians and 80 Royal Marines. Except that THEY had, and still have, a PROTECTOR. Who popped down to kick argie arses and turn them into mincemeat. But did it “nicely”. Only killed 649. Why wasn't it 6,490? Or more? With the entire argie “navy” cowering in port, why didn't we go in and sink the lot? But perhaps we can see Mr Singer as a protector. Once the court has ordered argieland to pay NML et al, perhaps “the Italian and German elderlies” can follow the argie example. Tear up the “restructuring” agreements and demand payment in full. Plus interest. Love to see that. Argies starving to death as they work (that'll be new) to pay off their debts. No imports, no exports. No “foreign” travel. Stay there and work until you drop. And who would care? Argieland has done nothing but steal for around 200 years. Time for some payback. Live in caves. Or turn all population centres into “villas”. Perhaps, in 10 or 20 years, you might learn some humility. Or at least that the world doesn't owe you a living. World population is currently estimated at 7,081 million. Who's going to miss 40 million useless thieves? Leave it a few years and they'll decompose into the soil. A lot of them are pretty decomposed already.
Apr 25th, 2013 - 10:12 am - Link - Report abuse 0I'm still thinking the panic number is 10/1.
Apr 25th, 2013 - 12:03 pm - Link - Report abuse 0Once the panic sets in there will be nothing the gov't can do to stop it
If Argentina was a serious country this would be all over the Int'l news.
Think about what has happened since 2001
EVERYONE IN THE Country is has 1/9 of the savings that had at 1:1
Shameful
The dollar at 9/1, the reforms to the justice system giving the government majority control, soon they'll be able to pass the media law controlling the press, and with control of the central bank what do we end up with?
Apr 25th, 2013 - 01:56 pm - Link - Report abuse 0Control of Courts + Press + Banks = Dictatorship!!!
@10
Apr 25th, 2013 - 02:09 pm - Link - Report abuse 0Have you checked your savings? Compared to other fiat currencies you have less then 1/2 you did in 2000 vs teh Euro (0.78 vs 1.35 now), yen (130 vs 85 now), Australian/Canadian (back then 2 for one USD, now you get 1 to 1).
Against a real asset like gold, you have 1/8 of your money!!! 2000 gold price: 220 ... today: 1.500
Funny how you are so much poorer and don't even realize it.
Meanwhile in Washington: print, print, print, print... hahahahaha.
12. I am not happy with the devaluation of our own currency at all. I agree completely, it is scandalous! I saw this coming a long time ago so most of my savings are in hard assets, real estate, precious metals and Stock market so I'm doing just fine thanks. My savings is for retirement and that is a long long way off. I'm not worried.
Apr 25th, 2013 - 02:19 pm - Link - Report abuse 0What your numbers say though is that instead of having 1/9 of your savings it is actually much much worse since that number is based on U$.
Wow, you actually admitted a truth presented to you.
Apr 25th, 2013 - 02:25 pm - Link - Report abuse 0This is a surprising tactic. Not sure how I can troll you now.
Toby, I have never said the USA is perfect. Especially since we have a Collectivist-in-Chief trying to destroy it.
Apr 25th, 2013 - 02:34 pm - Link - Report abuse 0One of the reason I am on this site and read some much about Argentina is because I don't want the USA to turn into Argentina.
Peronism has destroyed Millions of people's lives and generations of productiviy it could so easily happen here too.
Luckily we have a more educated citizenry, cherish our individual rights and respect law and order so it is harder to do here.
There are big changes coming to the USA in the next few years and I hope that they are in the right direction.
Oh please stop. I can't troll if you act like this. Go back to the way you always were, distorting the facts, putting false information (like Mercopress), focusing on the negatives of Argentina and exaggerating them 1000% fold, and always dodging the problems of your country or actually denying them altogether.
Apr 25th, 2013 - 02:46 pm - Link - Report abuse 0Please.
Oh sorry do you think 9/1 is an exaggeration? What's better 8.94/1
Apr 25th, 2013 - 03:00 pm - Link - Report abuse 0Bahahahaaaa
Twist
Yankee I think he panic has already begun. I know a few well off businessmen in BA, Harvard educated (free freaking scholarships no less, always the foreigners) and they started moving moving and preping for a collapse.
Apr 25th, 2013 - 04:09 pm - Link - Report abuse 0Oh! come on Yankeeboy we want the old Yankee bobo the one that buys T US Bonds, and buys shares of Lehman Broke.
Apr 25th, 2013 - 04:13 pm - Link - Report abuse 0will you come back please????
thanks
Are there any calls in Argentina to use the USD as the national currency (like Ecuador)?
Apr 25th, 2013 - 04:48 pm - Link - Report abuse 0Ahh there it is $9.12/1
Apr 25th, 2013 - 05:06 pm - Link - Report abuse 0Where is Think?
Wonder why he isn't posting?
“”Where is Think?
Apr 25th, 2013 - 06:00 pm - Link - Report abuse 0Wonder why he isn't posting?“””
.... there was an emergency at the hospital where a man had his hands permanently stuck inside dozens of pairs of socks and had collapsed from starvation after being unable to feed himself.
He'd been pounding on the walls of his flat for days seeking help but the neighbors simply assumed he was masturbating more than usual and ignored the cries.
The Royal British Legion have denied any of their members were involved in any of this and, indeed, that none of the socks were theirs either.
It makes me sad that he never turns up when it gets exciting.
Apr 25th, 2013 - 06:09 pm - Link - Report abuse 0Maybe he is mourning the death of democracy
They can't even pretend they have one now
Yankee......with all the persona shifting going on, they sometimes forget a personality or two. That's why some disappear for a few months at a time.
Apr 25th, 2013 - 08:21 pm - Link - Report abuse 0http://www.youtube.com/watch?v=O4zAXjXNFHI
Apr 25th, 2013 - 08:38 pm - Link - Report abuse 0Just to share...
From an interview of the our minister of economy, when inflation is mentioned he gets nervous, asked to cut the program and says “me quiero ir” =I want to go...(!!)
I ashamed of the govt that represents us but when you see attitude like this you don't know if to cry or to take it with humour....
25
Apr 25th, 2013 - 08:56 pm - Link - Report abuse 0That is f*cking hilarious.
“You can’t ask the minister about inflation...we don’t talk about inflation...”
I wonder why?
Me quiero ir!
Apr 25th, 2013 - 09:01 pm - Link - Report abuse 0PMSL
lool
Apr 25th, 2013 - 10:04 pm - Link - Report abuse 0no doubt Argentines will write the entire interview out of their collective history - “It never happened!”
And it ends the day at 9.20. Big jump in one day...again
Apr 25th, 2013 - 10:20 pm - Link - Report abuse 0Dollar still $5.13 boys sorry next time perhaps...
Apr 26th, 2013 - 07:20 am - Link - Report abuse 0Only because they do not allow it to be subjected to demand forces. At 5.13 their trade account will go bust in it's current trend.
Apr 26th, 2013 - 10:07 am - Link - Report abuse 0Dollar still $5.13
Apr 26th, 2013 - 11:33 am - Link - Report abuse 0That is why there is no Int'l investment, trade is rapidly falling, mfg is falling and EVEN FARMING IS UNPROFITABLE
Stupid Rgs
Who cares of farming?
Apr 26th, 2013 - 12:58 pm - Link - Report abuse 0industries and companies having all taxes in order and other stuff can have access to USD at that value. I buy imported stuff from Belgium and Germany and I pay the dollar at the official exchange rate.
Only people with not good documentation backing business activity or having tax problem record or speculator in the black illegal market cannot buy it. also in my credit card the bank charge me at official exchange rate for USD when buy abroad.
So for business, people with good tax record, etc dollars are available at that price.
There some people that declare to earn 6000 pesos at moth and want to buy a million dollar you cannot buy that much anywhere in the world at least you go to a yank bank specialist in the Cartel of Juarez in US.
Who cares of farming?
Apr 26th, 2013 - 01:05 pm - Link - Report abuse 0Do you know anything about Argentina? SOY is your largest hard currency export.
It is what is used to pay for your fuel
Do you get dumber every day? I dont' see how it possible considering where you started but your posts are delusional and make little sense to the rest of the world.
Yankee you are wasting your time talkin to RG/Europeans.
Apr 26th, 2013 - 03:15 pm - Link - Report abuse 0$9.34/1
Apr 26th, 2013 - 07:48 pm - Link - Report abuse 0Cap, I hope your wifes family has enough U$ stashed away because there is a very good chance this is going to get really ugly really fast.
Fortunately they do. Physcians, a lawyer and a few MBA business men. I wish I could get them out. I feel like it's the Berlin wall being built.
Apr 26th, 2013 - 09:11 pm - Link - Report abuse 0It is hard for people to move here. I wish them luck my friends are having a tough time too.
Apr 26th, 2013 - 10:51 pm - Link - Report abuse 0I just emailed one of them and told him he better get out while he still could.
What's with these trolls? They are obviously not Argentines yet they support vigorously, stupidly but vigorously. The Stevie reminds me of a pissant. Not matter
Apr 27th, 2013 - 12:26 am - Link - Report abuse 0what you do, he always come back.
@yankeeboy
Apr 27th, 2013 - 03:56 am - Link - Report abuse 0“Do you know anything about Argentina? SOY is your largest hard currency export.”
Nope this its a tale coming from the crappy media like Clarin Miente, La Destruccion, BA Herald, etc. who some of the owners (share holders) are in the farming business like José Aranda owner of Copra SA and vice president of Clarin Miente who also is partner of Geroge Soros.
http://informeurbano.com.ar/Los-negocios-de-Clarin-y-George-Soros-inundan-Corrientes-y-generan-una-tragedia-ambiental/2440/
If you see Arg. GDP composition by sector you will realise that only 7.5% is generated by the farming sector.
agriculture: 7.5%
industry: 33.4%
services: 59.1%
If the GDP nominal of Argentina is 500bn the farming sector only produce USD 37.500bn as a whole.
Most of that production is consumed at home with the exception of soy and surplus in production that are exported.
Argentina had exported in 2012 USD 85.36bn
So as you can see not even exporting the whole production of the farming sector and leaving 40 million people starving, the farming sector can archive the status of the “largest hard currency export” sector.
The largest hard currency export sector is the industrial sector what together with services sector exports are responsible abut the 75/80% of the total exports from Argentina.
This also explains why the industrialised states in Argentina are the richer and why the farming states are the poorest exporting poverty to the industrialised states.
Buenos Aires state region, the most industrialised in Argentina, are responsible for the half of the GDP of Argentina.
39. I've never really bought into the notion that they are paid posters but maybe they are? Jobs are scarce, the gov't can print as many pesos as they need to fund La Campora. Gov't jobs are growing exponentially to mask the layoffs.
Apr 27th, 2013 - 01:10 pm - Link - Report abuse 0If you look at someone like Think, read into his posts, there is absolutely no way he has been to Argentina since he fled in the 70s. He has an idealized fantasy of what he wants to happen there that doesn't match up with reality. Plus he always posts when we are asleep on this side of the Atlantic.
Stevie is either Toby or Guzz or both or Think could be all 3
I really can't imagine someone having the passion to keep up the personas but there is a lot of crazy out there.
The last time Think got really mad is when I pointed out it was statistically impossible for so many Nordic Retournados living in the exterior to have found this site AND post on a regular basis.
It is just not possible
Yet there you are
not a smart people
I go with stevie is guzz and think, not so much toby. toby is too immature, there other two are just strange
Apr 27th, 2013 - 02:57 pm - Link - Report abuse 0It is as easy to rile up Toby as it is Think and with the same tactics.
Apr 28th, 2013 - 11:51 am - Link - Report abuse 0Both think they are smarter than the average bear but are really dumb as a stump.
I have had to spend a lot of time lately at my desk and this is such a fun diversion! I bet when the economy goes into full collapse all of our regulars will be gone. Then what will I do!
Yankeeboy
Apr 28th, 2013 - 12:34 pm - Link - Report abuse 0Maybe we can sponsor them like some African orphan through World Vision?
We both win. They eat and we get entertainment.
MNL responded, didn't the courts say they will have an answer in a few weeks? That will really move the bond prices and value of the peso further along. For the life on me, the really cannot image what is going through that head of hers?
Apr 28th, 2013 - 12:37 pm - Link - Report abuse 0This was an interesting blurp where the head of Banco Cuidad called her policies unprofessional.
http://www.buenosairesherald.com/article/129789/blue-dollar-has-no-roof-govt-destroys-peso
I find it utterly impossible that the people on this site that support her live in Agentina. Stevie is definitely Guzz, maybe not Think....but who really knows, they are all Sybil to me.....lol
45. We should hear from NYC rather quickly. I would bet they want to get it settled before June's interest payment. I can't imagine SCOTUS will hear the case and may tell them flat out really quickly too.
Apr 28th, 2013 - 04:02 pm - Link - Report abuse 0US Treasury made a report about Argentina to Congress and basically said they were lying scofflaws and needed to be brought to heel. That's the 1st public statements they've made.
USA is gonna make them hurt
I cannot believe for a nanosecond either that SCOTUS will touch that case and for a lot of reasons.
Apr 28th, 2013 - 06:40 pm - Link - Report abuse 0So what does Argentina have hanging over their economic heads at the moment?
Appellate decision
IMF sanctions
which will cause G20 decision on their membership
the peso in a downward vortex
Farmers holding onto grans and not selling
effecting a trade deficit
shortages of fuel supplies going into winter
Yeah, they're not in crisis as stevie said.
Ask Argentina about economics and the answer you get? mi quiro ir !! Sums up the actions of international business in Argentina......perhaps he was paraphrasing?
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