Blue Dollar Going Down Very Quickly

[Greg2231]

I had also heard from my contacts that there has been selling of Dollars at about 10 centavos below the previous days closing mark by people perceived to be connected to the government, starting at the end of last week.
My guess is the government got concerned that the Blue was going to blow through 8 which caused them to act through a proxy in the Blue market, just like last July when they did the same thing when the Blue was at 5.8x and rapidly approaching 6, and the next morning a seller opened the market selling Dollars at 5.30, only this time the have been pushing it down a dime at a time.

 

[Conorworld]

I HEARD a rumor about farming contracts being finished or awarded, whatever, last week thus making it shoot up.

It had to go down a bit if that was the case. Similar situation happened in general forex where the Euro last week blazed the forex. Upon markets opening on Monday it dropped almost 2 cents on a multiple of different reasons (profit taking, Spain and Italian political woes, uncertainty in global economy). It has recovered a bit but it is still a victim of what goes up too quickly can come down a bit due to fear and profit taking.

Last week's jump was huge whatever way you look at it. I said it during the week here; I was surprised it had not dropped down a bit but continued to go up considering the end of the holiday season. 50 centavos in less than a fortnight? Wow.

Dolar Blue flew too close to the sun but the trajectory is still the same. I am back in Buenos Aires on February 27th and I will put money on it still being north of 7 pesos then. If not at the end of the month, still hold on to your dollars as the momentum is still up

 

[PhilinBSAS]

Anyone have an idea of why the blue dollars has go down so quickly from 8 to 7,6 in 2 days?

and up to 7.72 today

 

[Rich One]

End of 2013 over $9 pesos. Play your cards ..!!

 

[Greg2231]

End of 2013 over $9 pesos. Play your cards ..!!

maybe we should start a pool on were the Blue Dollar opens 1/1/14, I will go with 10.45. Or better yet a monthly pool, I will take 7.94 for March 1st.

 

[PhilinBSAS]

seems that there is intervention going on to avoid tipping over the 8 level but the underlying trend is undeniable

Ive been looking around for some time series information on the blue and official rates preferably in excel format - anyone seen this?

no doubt several PhD students are doing this

 

[dennisr]

Was predicting 10.00 by the end of the rear. However, "upon further review", my crystal ball predicts multiple exchange rates are in my future: Venezuala style. All bets are off.

 

[Rich One]

Was predicting 10.00 by the end of the rear. However, "upon further review", my crystal ball predicts multiple exchange rates are in my future: Venezuala style. All bets are off.

Have a twin crystal ball, unfolding multilevel flexible dollar, for tourism & luxury items available at banks for $8 with AFIP approval,,,!! Dollar climbing back again ...! not for the weak of heart....

 

[Conorworld]

I still believe that if the seasonal demand drop occurs, it still won't go below 7 pesos.

 

[rrptownley]

maybe we should start a pool on were the Blue Dollar opens 1/1/14, I will go with 10.45. Or better yet a monthly pool, I will take 7.94 for March 1st.

I think that by 1/1/14 we will be back with the Austral