Blue Dollar - Over

[AmigoArtistico]

Basically, from what I understand (my wife explained this), you do not get to buy dollars at the official rate unless you leave those dollars into a savings account for an entire year. Only after a year will you be able to withdraw them. If you ask to withdraw before that period, you will have to pay a 20 percent tax. Meanwhile, that money will continue to stay right where it is, other than electronically figuring as being in your account. Basically, this assures the government that they won't be paying anybody dollars at the official rate for a year. The next person that comes into office will have to do that. Meanwhile, those dollars that people request are counted as reserves by the government because they did not truly pay it out.

I doubt you can actually get what you are supposed to in a year...

This isn't true. You can buy the dollars and pick them up at the bank.

The only reason to leave them in the bank for a year is to avoid the 20% anticipo (called withholding in the US), which can be refunded at the end of the year (though there have been many reports of difficulties in getting this 20% refunded when using credit cards outside the country).

With the forced pesification of dollars in 2002 still fresh in peoples' minds, it seems doubtful that many will risk keeping the dollars in an account in the bank.

 

[Rich One]

If you buy dollars at the official rate plus 20% $9,60 the AFIP will control that you don't sell at the Blue rate, you must sell back to the bank at $8 pesos and the 20% is refunded ? or claimed against taxes next year?

 

[Reneige]

Did anyone see how Cristina Fernandez blamed bank speculation for the Peso collapse on her twitter account yesterday??! HAHAHA

That's like me taking your finest glassware, throwing it off the balcony, and then blaming gravity for breaking it...

 

[AmigoArtistico]

If you buy dollars at the official rate plus 20% $9,60 the AFIP will control that you don't sell at the Blue rate, you must sell back to the bank at $8 pesos and the 20% is refunded ? or claimed against taxes next year?

I haven't seen anything written about restrictions like that. Have you?

 

[Jaredberryman]

This isn't true. You can buy the dollars and pick them up at the bank.

The only reason to leave them in the bank for a year is to avoid the 20% anticipo (called withholding in the US), which can be refunded at the end of the year (though there have been many reports of difficulties in getting this 20% refunded when using credit cards outside the country).

With the forced pesification of dollars in 2002 still fresh in peoples' minds, it seems doubtful that many will risk keeping the dollars in an account in the bank.

That's basically what I just said in my post. But you have to get a check deposited into a savings account first, then go and withdraw them with the 20 percent charge tacked on.

 

[AmigoArtistico]

That's basically what I just said in my post. But you have to get a check deposited into a savings account first, then go and withdraw them with the 20 percent charge tacked on.

You didn't say anything like that!

You said:

• you do not get to buy dollars at the official rate unless you leave those dollars into a savings account for an entire year.
• Only after a year will you be able to withdraw them.
• If you ask to withdraw before that period (!!! - you just said you couldn't withdraw them in less than a year), you will have to pay a 20 percent tax.
• Basically, this assures the government that they won't be paying anybody dollars at the official rate for a year. The next person that comes into office will have to do that.

Those statements constitute most of your post, and none of them is true.

[background=rgb(252, 252, 252)]But you have to get a check deposited into a savings account first, then go and withdraw them with the 20 percent charge tacked on. [/background]

If you've already got a bank account with money in it, you just do the transaction. And again, the 20% is a refundable deposit, just like withholding in the US. It's not an extra charge (though it could be hassle to get it back).

 

[Styleles]

Journalist on twitter have reported that banks are charging 20% regardless (even for the long term option) because they say central bank instructions aren't clear. They will only change this if central bank clarifies the rules.

 

[Jaredberryman]

You didn't say anything like that!

You said:

• you do not get to buy dollars at the official rate unless you leave those dollars into a savings account for an entire year.
• Only after a year will you be able to withdraw them.
• If you ask to withdraw before that period (!!! - you just said you couldn't withdraw them in less than a year), you will have to pay a 20 percent tax.
• Basically, this assures the government that they won't be paying anybody dollars at the official rate for a year. The next person that comes into office will have to do that.

Those statements constitute most of your post, and none of them is true.



If you've already got a bank account with money in it, you just do the transaction. And again, the 20% is a refundable deposit, just like withholding in the US. It's not an extra charge (though it could be hassle to get it back).

Read again. All of my statements 1 and 2 are saying the same thing as you. The official rate would not be with a 20% added. You will not be able to withdraw your dollars (at the official rate, another words, without the extra 20 percent) before a year expires. Meanwhile, no one can actually get the dollar at the official rate (official rate means without an extra 20 percent) unless they wait a year. Sure, you can withdraw at the official rate plus 20 percent.

If you think that 20% will really be refundable, then you are being optimistic at best. I've had so many friends try to get their 20 percent refunded when purchasing abroad that got rejected that is it not even funny. No one can actually buy dollars at the official rate. If you can, then I salute you.

 

[Somewhereinba]

Has anyone got a recent rate quote for what the USD is selling for at the moment. All the websites seem to show different values.

 

[thorsten]

dolarblue has been always pretty accurate for the quotes I got in the cuave. however, with the spread as big as is currently, changing in cuaves is throwing money away (well, its not gone, but the cuave has it). i'd try to make a person-to-person deal.