Cepo cambiario

[antipodean]

Could you please make up your mind: lifted or reinstated?

Macri actually did both. He reinstated the CEPO (restrictions on buying dollars) in September 2019.

Brechas that result from capital controls here have been a thing since the 1960s. Rarely have they ever been as high as they are now.

Here is a chart where one can see the evolution of the brecha cambiaria since 2008 if interested https://www.dolarito.ar/brechas-dolar-oficial

 

[SinPulgas]

Here's a chart of the dollar blue going back to the beginning, from which you can get daily prices for the entire time. I'm sure you can find a chart somewhere for the official rate. You can compare the two for the dates in question.

Dollar blue chart

 

[lunar]

I'm sorry that you have trouble reading. I'll explain it to you a bit more simply.

I have trouble understanding why you blame Macri. He was on his way out at that time. It was a reaction of the Central Bank to the plummeting peso following the PASO results.

El Banco Central redujo de US$ 10 mil a US$ 200 mensuales el monto máximo que podían comprar las personas para ahorrar. Esto fue un día después de las elecciones generales que dieron como ganador a Alberto Fernández (Frente de Todos). El dólar ya se ubicaba en $65.

 

[SinPulgas]

I have trouble understanding why you blame Macri. He was on his way out at that time. It was a reaction of the Central Bank to the plummeting peso following the PASO results.

I didn't blame anyone. I just stated what happened. And I remember and understand completely the context in which all these events occurred.

 

[ArgentinaVet]

During most of Macri's administration the difference between the dollar blue and the official rate was only a few basis points. There has always been an unofficial cash FX market for participants who prefer privacy.

 

[pixer12]

Using US dollars you'd get a far superior rate.

Living here long-term, and traveling back the U.S. only once in a while, I have to budget my paper bills for the things I absolutely need them for. I don't mind the trade-off of getting a lesser rate vs. having the convenience of simply being able use ATMs. Also, since April, I've tracked every transaction I've made using the card (to evaluate the effective rate vs. the blue rate at time of the transaction) and the average of all differences is about 12.8%. Without the preferential rate, agreed, this wouldn't be worthwhile at all.

 

[paternalba]

Hi There,

New to the forum and looking for some advice on a place to exchange dollars near Paternal/Villa Crespo. I had someone recommend a place but when I went the other week they have been one of the ones that got raided recently and were closed.

Any recommendations would be much appreciated!

Thanks!

 

[antipodean]

El equipo económico de Javier Milei espera una unificación cambiaria a $650

Es la idea que trasmitieron desde La Libertad Avanza en conversaciones de transición con funcionarios del Poder Ejecutivo. También plantearon privatizaciones y una convergencia inmediata a superávit fiscal

www.infobae.com

Interesting note today to say that Milei hopes to unify the exchange rates at 650 (e.g. the approximate rate exporters of goods and services are getting paid by foreign customers already today) and eliminate the Cepo.

"The economic team of President-elect Javier Milei believes that he could carry out an exchange rate unification , with the elimination of the cepo, at a value of $650 , as transmitted by his economic team during transition meetings with the outgoing government."

However what this will be after inflation is anyone's guess, as he went on to say:

“Monetary policy has a lag of between 18 and 24 months. Even if you cut the emission today, inflation will begin to fall between 18 and 24 months. Convertibility took 20 months, it was the most successful fiscal program in history,”

 

[Alby]

He has also said he won't lift the cepo until the Leliqs problem is solved. How long will that take? It's hard to see him holding the official exchange rate where it currently is in the meantime.

 

[jbeas176]

funny story. i had a bank account with a debit card. i used to go to the cueva change dollars at 12 to 1. i would go deposit it in my account, use the debit card in the us and it would convert ar 8 to 1 offical rate. those were the days. thats argentina