Blue Dollar at 341/345

[antipodean]

Will the BCRA issue some day a 1 million peso bill? If there are a couple of years more at the current rate of inflation that is completely plausible. Would the number of zeros on such a bill be a topic of political discussion?

They’d probably just create a new currency by that point to start afresh … Australes 2.1, Pesos-Fuertes, Pesos-Soberanos, Pesos-Patria… they can get creative.

Or the market will simply and informally dollarize day to day transactions and prices as it did in Venezuela, leaving the local currency only for those receiving government pay-checks…

 

[Quilombo]

The BCRA has only been instructed to print these ugly $2,000 ARS bills worth a whopping $5 USD a piece:

And their post about the bill reads like a K propaganda piece: "We don't need higher denomination bills because
there's been an almost 100% increase in electronic payments!"

By the time we see these on the streets they'll be worth the current value of the $1,000 peso bill lol

 

[carride]

The BCRA has only been instructed to print these ugly $2,000 ARS bills worth a whopping $5 USD a piece:


And their post about the bill reads like a K propaganda piece: "We don't need higher denomination bills because
there's been an almost 100% increase in electronic payments!"

By the time we see these on the streets they'll be worth the current value of the $1,000 peso bill lol

Perhaps some in government are impressed by success of India’s rapid rise of electronic payments. There have been both glowing reviews, and strong warnings of what has been accomplished there in only a few years. Started with the refusal to print larger domination bills.

NYTimes praising, only slight mention of the warnings
Where Digital Payments, Even for a 10-Cent Chai, Are Colossal in Scale

And a recent paper https://www.sciencedirect.com/science/article/pii/S0016718523000465

 

[Quilombo]

Perhaps some in government are impressed by success of India’s rapid rise of electronic payments. There have been both glowing reviews, and strong warnings of what has been accomplished there in only a few years. Started with the refusal to print larger domination bills.

NYTimes praising, only slight mention of the warnings
Where Digital Payments, Even for a 10-Cent Chai, Are Colossal in Scale

And a recent paper https://www.sciencedirect.com/science/article/pii/S0016718523000465

Yeah but they still have ₹2,000 bills (which are being removed via attrition) worth ~$25 USD each, and ₹500 bills worth ~$6.00 USD each which is more than double the value of $1,000 ARS. Plus India is still a very cheap country where $6 USD goes a lot farther than here, and inflation is only ~6%

 

[Reply Guy]

650 likely, 700 a bit high. According to my crystal ball.

I think my guess of 700 might be too low the way things are looking now!

 

[sts7049]

might want to add a zero to that prediction

 

[earlyretirement]

We should start a new thread with guesses where the peso ends on December 31, 2023.

 

[Reply Guy]

We should start a new thread with guesses where the peso ends on December 31, 2023.

$1,000

 

[Rich One]

$1,000

Depends on the PASO results next Monday can predict.

 

[Quilombo]

The BCRA has only been instructed to print these ugly $2,000 ARS bills worth a whopping $5 USD a piece:

And their post about the bill reads like a K propaganda piece: "We don't need higher denomination bills because
there's been an almost 100% increase in electronic payments!"

By the time we see these on the streets they'll be worth the current value of the $1,000 peso bill lol

Well, I was close, when I posted this, 1K ARS was $2.56

I have a 2K bill in my wallet and it's worth $3.36

We should start a new thread with guesses where the peso ends on December 31, 2023.

Depends on the PASO results next Monday can predict.

Minimum 1K, regardless of who wins the PASO.

If we assume past is prologue, there was a 42.49% increase between January 1st 2023 and July 1st 2023, which would imply $702.48 by December 2023, but we're basically at $600 now which is why I think 1K is going to happen before Christmas, not by, and if the Ks pull out a win,
well, bend over and kiss your ass and pesos goodbye.