Deal for pesos?

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trotskyite00

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So we have a large amount of pesos left and are headed back to the US soon... i was wondering if anyone who normally just takes pesos out of the ATM would be interested in a mutually beneficial deal? Looking over our ATM charges from Chase, normally for $1,000 pesos we pay $237 +$5 fee which works out to an exchange rate of under 4.2.
I assume some other people get similarly crappy exchange rates this way. Since we have a lot of pesos if some one who has Chase Bank (using QuickPay) wanted to transfer dollars online we could give the pesos in person at a rate of 4.5.
PM me if you would be interested.
 

Jed

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Xoom is going to be a tough competitor to beat now a days with a minimum of 4.80 to the dollar after removing the $30 USD fee. Maybe buy a boat load of wine?
 

nicoenarg

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trotskyite00 said:
So we have a large amount of pesos left and are headed back to the US soon... i was wondering if anyone who normally just takes pesos out of the ATM would be interested in a mutually beneficial deal? Looking over our ATM charges from Chase, normally for $1,000 pesos we pay $237 +$5 fee which works out to an exchange rate of under 4.2.
I assume some other people get similarly crappy exchange rates this way. Since we have a lot of pesos if some one who has Chase Bank (using QuickPay) wanted to transfer dollars online we could give the pesos in person at a rate of 4.5.
PM me if you would be interested.
My suggestion would be for you to take a loss on your part and offer a better rate than Xoom or whatever else. Yeah its a bad deal or whatever but at least you're not stuck with all the pesos that you can't convert in the US and where they will take them, you will have to unload them at 6 or 7 or whatever crazy rate you get. What you're offering sounds like you're joking around?

Or as another poster suggested, buy stuff for yourselves that you need to take with you, whether that be wine or something else. Although, I can't think of anything you would need to buy from here that you couldn't get in the US (except for bad quality clothes).
 

davonz

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Yes, your rate isnt very good if you want to get rid of pesos... I can even get 4.45 for travelers cheques - or that was the rate 1 1/2 weeks ago at amex, probably a bit better now... and if i changed cash/transferred into your US bank account i would expect over 5 to 1 as i have been exchanging for over 5 since mid march.
 

trotskyite00

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I do not know what Xoom is... so no one here takes money out of ATMs? The effective rate when using an ATM is around 4.2. I didn't know about this Xoom thing.

6 or 7 pesos per dollar in US?! As of 3 days ago Chase bank told us they can buy pesos at 4.98 back in New York.
 

trotskyite00

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TERKILD said:
Gonna be a tuff one......You get 5.15 right now for the dollar! So I cant imagine anyone wanna settle for the more or less official rate of 4.50!!!!!

Well that is for physical dollars... I didn't realize everyone brought sufficient supply of dollars for the entire time here. I was thinking of people who didn't have dollars with them in Argentina, instead of going to an ATM could get a better rate by transferring from American bank account for free especially as you can only get $1000 pesos at a time with a feee for each transaction.
 

salchipapas

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TERKILD isn't that only if you have dollar bills here? If you do not have dollars you are withdrawing pesos from a us bank account at a rate of 4.12 (including the fee). Is there a way of withdrawing pesos at a much better rate that I dont know about?
 

jb5

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I think most have stopped using ATMs recently because the unofficial rate keeps moving higher and there's now an almost 20% spread between the official and parallel rate.

I would not bring pesos back to the states. Chances of getting stuck with them are good.
 
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