Blue dollar blues.....

[Caribbean Cool]

Which part did you not comprehend?

"Regarding the increase in prices in dollar terms, it's probably a consequence of the rise in the official dollar value and the ongoing inflation in the U.S., both of which are likely to influence our local economy."

Neither of these two 'facts'....are true! The dollar has been declining and U.S. inflation has been declining. Even Jim Cramer knows that.

 

[Summer]

I can’t decide if I should bring a lot of cash. The visa exchange rate is 3 pesos less than blue. Though not using cash in Argentina is quite limiting.

Any thoughts?

 

[Sam Bartolo]

Same here, told to wait until March April

 

[AdrianB]

As the year draws to a close, there's an increased demand for pesos due to the payment of various bills, coinciding with heightened tourism. This places considerable strain on the dollar. Compared to last year, people seem to have less disposable income for purchasing dollars, which aligns with the current economic scenario.

I would say you got this part right. People naturally spend way more during christmas/holiday periods.

Right now the official rate to buy dollars for argentinians is around 1300 so higher than blue. Before it was lower than blue but capped at 200$ per month. So naturally you would expect all buying of dollars to go through the blue market currently but it seems like there is not enough demand for dollars. As soon as we see people having more pesos available again the blue rate will follow.

If I had to make an assumption including some other factors I would say by the end of January the blue rate will be 2000-2500 but we will see.

 

[wrangler]

I would say you got this part right. People naturally spend way more during christmas/holiday periods.

Right now the official rate to buy dollars for argentinians is around 1300 so higher than blue. Before it was lower than blue but capped at 200$ per month. So naturally you would expect all buying of dollars to go through the blue market currently but it seems like there is not enough demand for dollars. As soon as we see people having more pesos available again the blue rate will follow.

If I had to make an assumption including some other factors I would say by the end of January the blue rate will be 2000-2500 but we will see.

Exactly, and as I mentioned above, but I don't think I made it very clear, that Argentina has a record amount of tourists right now, and they are dumping a lot of dollars here...