Can I Benefit From The Blue Dollar This Way........

[superbum]

Hi all
I am relocating to Brasil, and since the "blue $$" rate in Argentina is so high, I was wondering if the following plan could work:
Flying to Argentina with Usd 10K, exchange it at the "blue" rate into Ars, then fly back to Brasil and exchange my Ars into Brl.

here is how I "foolishly" see it:
- if I simply change (in Rio) my Usd 10K into Brl, I will get about Brl 21K .
- if i do the above Bs As trip, then Usd 10K will get me about Ars 90K (via blue dollars), and that would get me Brl 36K back in Rio.

PS I know that I can only enter or leave Argentina with Usd 10K, and would return to Rio by bus, where there is less checks for such stuff.

So my question is: how realistic is this plan?

 

[Travelbug0601]

What your describing is called arbitrage. Unfortunately this wont work. Argentine pesos are worth almost nothing outside of Argentina.

 

[Splitty]

Instead of Brazil, fly to Venezuela with your pesos, they are short of toilet paper.

 

[superbum]

What your describing is called arbitrage. Unfortunately this wont work. Argentine pesos are worth almost nothing outside of Argentina.

i just confirmed that many casa de cambio in Rio, Floripa & Camboriu are exchanging Ars at "about" going bank rate.

 

[PhilipDT]

i just confirmed that many casa de cambio in Rio, Floripa & Camboriu are exchanging Ars at "about" going bank rate.

That seems unlikely

Look for example at this website for a casa de cambio in Rio
http://www.casaalianca.com.br/novosite/index.php

USD 2.15
ARS .23

In argentina you'll get 8 ARS / USD

So if you change 100 dollars here you get 800 pesos which in brazil you would change into 184 Reals

Or you could just go to brazil directly and get 215 reals with your dollars.


Trust me if there was that much free money just laying there, someone would have picked it up by now.

 

[Travelbug0601]

i just confirmed that many casa de cambio in Rio, Floripa & Camboriu are exchanging Ars at "about" going bank rate.

If you know the rates the change houses are giving out then it should be easy for you to calculate what's best. Brink 10K and let us know how it goes.