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Argentine reserves below 28bn dollars; bonds payments of 170m on Tuesday

Tuesday, September 30th 2014 - 05:11 UTC
Full article 19 comments

The informal of “blue” dollar in Argentina fell back 15 cents to 15.55 Pesos after it skyrocketed 75 cents last week and scraping 16 Pesos. The formal US dollar meantime advanced three cents to 8.49 Pesos at the end of trading in Buenos Aires City banks and foreign exchange offices. The gap between the two rates dropped to 83.9%. Read full article

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  • Klingon

    Look for the dollar to jump today and climb a little tomorrow also.
    Higher the better for me :)
    Blue is my favorite color.

    Sep 30th, 2014 - 11:20 am - Link - Report abuse 0
  • owl61

    I have an apt in Bs As and I confess it's cool to be able to dine out at great restaurants on the cheap, but when I realize that so many of the Arg middle classes are suffering because of the factors that strengthened my blue dollar I begin to lose my appetite. Be reasonable. Don't be so egocentric.

    Sep 30th, 2014 - 03:30 pm - Link - Report abuse 0
  • ElaineB

    @2 I think a lot of the 'glee' is posted here to annoy the trolls rather than directed at the Argentine people in general. A lot of people here express sympathy - especially for the middle classes that actually work for a living - for the Argentines who are going to lose everything again. I heard a lot of first-hand accounts from the last crash and it is shocking. And yet, they allowed the K's to do it to them again. That is puzzling.

    Sep 30th, 2014 - 04:16 pm - Link - Report abuse 0
  • yankeeboy

    3. They elected and supported these fools. They deserve what's coming to them.
    They could have listened to me over the last few years....

    Sep 30th, 2014 - 04:18 pm - Link - Report abuse 0
  • ChrisR

    Does anubody really think there is anywhere near U$D 28 Bn in reserves?

    No, I didn't think so.

    Sep 30th, 2014 - 04:57 pm - Link - Report abuse 0
  • ElaineB

    When people are on their knees they are susceptible to someone offering hope. That is what happened when the K's came along. They said what people wanted to hear.

    When I think of some of the discussions I had in BsAs about politics and economics it was clear that a lot of Argentines, having survived the last crisis, knew nothing about what had caused it or that it could happen again. Some had no idea of the scale of the default and debt.

    Most people want to just get through life, I guess, but I know if I had lost everything and been through the 2001/2 crisis, I would want to know the insides of a duck's arse about what had happened.

    Sep 30th, 2014 - 05:40 pm - Link - Report abuse 0
  • Briton

    Is 27 billion enough to pay her debtors or not..

    Sep 30th, 2014 - 07:18 pm - Link - Report abuse 0
  • ChrisR

    I wonder what will happen when we get our new president and he realises the extent to which the present idiot has let this bunch off the hook over the cost of electricity that Uruguay is STILL sending to TDC via the under-Plate cable?

    At present we are paying via our own bills for this bunch of incompetent crooks and it is beyond the time that payment should be made. I don't GAF theat 'No Money Pepe' thinks they are our “brothers”, if he really thinks that then when he is chucked out he and his haridan wife can go and live there.

    Sep 30th, 2014 - 07:50 pm - Link - Report abuse 0
  • chronic

    Just another day in paradise. Reap it, rotting roadkill, reap it.

    Your Gringo Amigos salute you - El Centro Banco de Rotting Roadkill. Salute!

    Sep 30th, 2014 - 08:46 pm - Link - Report abuse 0
  • Jay Bee

    7 Briton

    Nowhere near it.

    Sep 30th, 2014 - 10:36 pm - Link - Report abuse 0
  • Briton

    Then CFK cant then pay...

    Oct 01st, 2014 - 12:19 am - Link - Report abuse 0
  • Z-ville

    @5, 8

    They would only have a few Bil $ in cash; the rest would be in deposits or other forms of obligations of varying degree of liquidity. They may even count some undeclared gold reserve into the currency reserve. But the real problem for Argentina is that much of that $28 Bil is already spoken for. Import debts, contracts, etc.

    If they pay out those obligations and possibly have to sell off gold or other assets then there won't be anything left that backs up (or pretends to back up) the peso. That is when the hyperinflation avalanche will hit...

    Oct 01st, 2014 - 12:22 am - Link - Report abuse 0
  • Briton

    Well,
    seeing as the Russians sold Alaska to the American's,

    has CFK considered selling Patagonia to the brits.
    every little helps..

    Oct 01st, 2014 - 12:29 am - Link - Report abuse 0
  • Doggy Rap

    @ 4 yankeeboy who wrote: “They elected and supported these fools.”

    This is not correct.

    The Argentine middle class has been so much reduced as to be unable to influence the last 3-4 elections. The present nightmare government was elected by the unwashed masses who received money doled out for voting K.

    The huge majority Cristina had in the 2011 election represented only about 38 percent of the voters (70% (turnout) of the 54% of the votes).

    The human beings in Argentina did not elect and support the monsters.

    Oct 01st, 2014 - 04:37 am - Link - Report abuse 0
  • owl61

    @4 who wrote ”They (the Argentine populace) could have listened to me over the last few years.”
    What a laughably egomaniacal statement. You just lost all credibility.
    p.s. The US populace elected Lyndon Johnson and Georgie Bush - did they deserve the Vietnam and Iraq debacles? Does big money really determine who will be elected or do you think the average joe determines who will be President. (that's rhetorical - nothing more you say will be considered).
    p.p.s. @14 ...Who doled out the money to the unwashed masses?

    Oct 01st, 2014 - 03:01 pm - Link - Report abuse 0
  • Simon68

    15 owl61 (#)
    Oct 01st, 2014 - 03:01 pm

    “... p.p.s. @14 ...Who doled out the money to the unwashed masses?”

    The answer to your question is: La Campora through “los punteros”!!!!!

    Oct 01st, 2014 - 03:42 pm - Link - Report abuse 0
  • owl61

    @16...I don't dispute that answer, but big money is behind La Campora.

    Oct 01st, 2014 - 04:57 pm - Link - Report abuse 0
  • Doggy Rap

    @ 15 owl61

    “What a laughably egomaniacal statement.”

    :-D :-D :-D :-D

    You misiterpret a general expression e.g “The XX government” ... “NASA” ... “could have listened to me and then have performed so-and-so much better”

    It is not to be taken at face value, but simply means something like: “I predicted this and that and I was right”.

    Oct 01st, 2014 - 06:40 pm - Link - Report abuse 0
  • Leiard

    The Curse of the presidents who ignore the future.

    “Inflation at 40% per annum; a fiscal deficit of 4% of GDP; an energy deficit; the disastrous exchange rate policy; the collapse of consumption; the undeniable decline in employment and the emerging poverty.

    The President lays a smokescreen over everything and creates a fantasy of conspiracy that includes vulture funds, USA, Germany, bankers, businessmen, importers, the press and anyone who does not accompany the her version of events”

    http://www.cronista.com/columnistas/La-maldicion-de-los-presidentes-que-ignoran-el-futuro-20141001-0064.html

    Oct 01st, 2014 - 07:50 pm - Link - Report abuse 0

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