CEPO is lifted

Well....no surprises yet. Those with matured Plazo Fijos are trying to withdraw them to purchase dollars. Multiple reports of pending orders for purchases online cancelled and relisted at 20% higher prices to reflect change in oficial.

Public sentiment obviously reflects the idea that the dollar and peso will eventually hit the defended ceiling of 1400, whereupon dollar selling and plazo fijo purchases will make sense again (until the peg breaks of course).

Same as it ever was....same as it ever was.
 
Well, the USDT rate is at 1222 after reaching 1400 on Friday. It was at 1222 in December on NYE.

Argentina has just got even more disgustingly expensive.
 
Caribbean Cool said:
Does anyone know what the dollar sell number is this morning? What do I get for selling dollars....and where? Bank or street?
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Yes, bank or street.

You can only buy $100 per month in cash - to get more, you have to do it via home banking, which of course is all trackable. So Cuevas still exist.
 
sergio said:
How can it be a floating rate if it can't exceed 1,400? 'Controlled paramaters"
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It's called a "dirty float". It worked well in some former Soviet Republics, and it failed in Thailand resulting in the Asian Contagion that damaged every economy in Southeast Asia
 
daveholman said:
It's called a "dirty float". It worked well in some former Soviet Republics, and it failed in Thailand resulting in the Asian Contagion that damaged every economy in Southeast Asia
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If I am not mistaken they still use a dirty float in Peru after it emerged from a hyper and IMF stabilization plan in the 90s. As a result it continues to be the most stable currency in latin america over the decades. Many other countries like Israel, Indonesia, Turkey and Iceland too still use a "dirty float" for their currencies long after stabilization programs following their emergence from hyperinflation.
 
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