1 Pm - 1/16/2013 - Dólar Blue Now Trading At 7.50

[el_expatriado]

There is now a 50% gap (the highest ever) between the official dollar and the blue dollar. There is a consensus that this is caused pretty much by the fact that AFIP has refused to give any official dollars to people for tourism, even when they have been previously approved.

People are going to the bank with the official AFIP approval that authorizes them to buy dollars, but when it comes time for the bank to validate the request, the servers always "crash". This used to happen around 12 or 1 PM each day, but now it is happening at 10:15 AM, just 15 minutes after the bank opens.

AFIP employees have said off the record that the central bank tells them to shut down the servers after a certain dollar sales limit has been reached, thus unofficially controlling supply (even among people who were previously authorized by the AFIP).

My Prediction: Soon we'll see tourists camping outside bank branches to be the first one in line to buy dollars in the morning when the bank opens.

Obviously the effect of all this is sending tourists to buy the blue dollar, which is soaring higher than ever.

 

[Rich One]

fxxk I should have waited till Friday. Coleros will be back in style, (paid individuals to stay in line overnight)....!!
Damm

 

[JamesKTusa]

It seems now the buy-sell spread is also growing, cuevas today want $7.50 pesos to sell you a buck but only give at most ~$7.1 pesos to buy your buck. (Or maybe I'm shopping at the wrong cuevas??). I think that spread of 0.4+ pesos is excessive, the cuevas are (temporarily) having a field day. Yesterday I instead resorted to private deals with Porteño friends wanting to buy dollars, i.e. split the difference and eliminate the middleman.

Also the CCL (Contado con liqui) rate today at 7.28-7.31 is falling seriously behind the blue, how can that be??

- Jim

 

[scotttswan]

Where are the Cuevas?

They're the places you go to with the guys saying cambio cambio cambio right?

 

[Gringoboy]

We need (as opposed to want to) to buy some dollars, but this is now getting silly.

 

[lamarque]

It seems now the buy-sell spread is also growing, cuevas today want $7.50 pesos to sell you a buck but only give at most ~$7.1 pesos to buy your buck. (Or maybe I'm shopping at the wrong cuevas??). I think that spread of 0.4+ pesos is excessive, the cuevas are (temporarily) having a field day. Yesterday I instead resorted to private deals with Porteño friends wanting to buy dollars, i.e. split the difference and eliminate the middleman.

Also the CCL (Contado con liqui) rate today at 7.28-7.31 is falling seriously behind the blue, how can that be??

- Jim

Simple speculation my friend , gringoboy wait till the waters get calm don't run in panic wanting to buy dollars at any price.

 

[Greg2231]

We need (as opposed to want to) to buy some dollars, but this is now getting silly.

It depends when you need them by, if it is before the middle to end of February, I would move sooner rather than later, though it is always possible the friends of K intervene in the Blue market successfully, and bring the rate back down.

 

[Rich One]

Simple speculation my friend , gringoboy wait till the waters get calm don't run in panic wanting to buy dollars at any price.

It¡s a stampede wait and see.... panic spreads. The waters will calm after the Tsunami... !!
In Venezuela, the Chavez model if applicable, the Bolivar Fuerte was around ten to the dollar a year ago, today 17 , the official rate around 5 Bolivares...!!! spread 300 %.

 

[Rich One]

It seems now the buy-sell spread is also growing, cuevas today want $7.50 pesos to sell you a buck but only give at most ~$7.1 pesos to buy your buck. (Or maybe I'm shopping at the wrong cuevas??). I think that spread of 0.4+ pesos is excessive, the cuevas are (temporarily) having a field day. Yesterday I instead resorted to private deals with Porteño friends wanting to buy dollars, i.e. split the difference and eliminate the middleman.

Also the CCL (Contado con liqui) rate today at 7.28-7.31 is falling seriously behind the blue, how can that be??

- Jim

Dollar Blue in Facebook(Dolar Blue) AYOR , there buyers and sellers around the country meet, no middlemen.

 

[cbonanni]

My change guy last week said wait. Tomorrow will be more , Next week ? Who knows ? Even more !!