Deal for pesos?

[trotskyite00]

We called Chase bank and they said they could buy pesos for .202... was the bank rep misinformed??
This is all so crazy!

 

[solerboy]

We called Chase bank and they said they could buy pesos for .202... was the bank rep misinformed??
This is all so crazy!

So you would get ar$4.95 to the dollar.

 

[Sleuth]

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?

Xoom today is $5.05 if you do the maximum of $2999. I think it is going up since AFIP put further restrictions on getting dollars.

 

[nicoenarg]

Look, calculate what you're going to be gaining and how much you're prepared to lose if you don't gain anything.

You have several options here.

You can take the word of the Chase Bank rep (I am not saying he's lying) and take that gamble. I call it a gamble because the peso is a highly UNtrusted currency right now for obvious reasons. Rules regarding it will change on a weekly basis, if not daily.

You can convert your pesos here to a more respected and less erratic currency (Brazilian Reals?). I am not suggesting a currency per se, but there are economies in South America that are doing far better than the Argentine economy in real terms. You can go with their currencies. Take that currency with you and get it converted in the US to Dollars. You stand to lose this way but you won't be at the mercy of people from this forum.

I don't know what the controls are regarding other currencies so you will have to look into that.

You will have to accept a loss this way but you won't have to wait till the last minute where if you did that you stand to lose everything you have in pesos.

Do some research (how long do you have to go anyway?) and if you need help, I can help you too (after the 16th, I am busy with exams till then). Just drop me a PM if you want.

 

[nicoenarg]

for those of us not in the "in crowd" how are all of you getting money??

you have dollars smuggled in here on a regular basis?

Yes, I have a tunnel extending all the way from El Paso to the Once subway station and from there pigeons do delivery one dollar at a time. It used to be very effective but then CFK found out about it and nationalized all the pigeons. In fact, it was on the news the other day, they shot a pigeon for the offense of flying out of the boundaries of the Republic (traitor!) going south east. There were rallies in support of this move but soon afterward, the pigeon's last words were printed on the front page of Clarin, "But I...thought.....the Malvinas.....were........Argentine!"

CFK is said to have cried upon reading Clarin and has, as a result, melted her botoxy face. She will not be seen in public until she nationalizes all botox companies.

 

[ghost]

She negotiated with 3 Argentine drug companies to make Botox out of pigeon shit. pootox will be cheap soon.

 

[nicoenarg]

And from the looks of it, she's the guinea-pig! Its all in the interests of the Republic, of course.

 

[jb5]

It's pretty easy to get dollars into AR now because so many Argentines want to get dollars out. You need a friend to give you an introduction to a "cave." They do the transactions by taking dollars from Argentines here and giving them the money abroad. Meanwhile you get their dollars here.

And changing dollars for over 5 is very easy. People are fighting for the privilege of coming to your home to give you the pesos.

 

[davonz]

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.

I would get it in writing that your bank will exchange them when you get back to the states, as i have read where someone was quoted a rate of 5 to the US$ when he phone his bank in the states, and then when he got to the states they told him no, they couldnt change the pesos, but because he was told they would, they exchange at 6 or 7 to 1.. This was a month or 2 ago, so i imagine it is worse now..

As for getting peso's, i bring cash and traveler cheques. The cheques dont get stung with the ATM fees, and has a better rate then the ATM, and i can cash as many as i want. Only downside being since last oct i can only cash at AMEX in plaza san martin.
I also stock up on cash when friends come to visit, or i travel somewhere else.. in ecuador i stocked up again, as i could get US$ from the ATM's there..

I havent used an ATM here for 2 or 3 years, since the central bank started putting on their extra fee..

 

[Matt84]

It's pretty easy to get dollars into AR now because so many Argentines want to get dollars out. You need a friend to give you an introduction to a "cave." They do the transactions by taking dollars from Argentines here and giving them the money abroad. Meanwhile you get their dollars here.

and call it a 'financiera' while you're at it. most (take a cue from the neighborhood, avoid downtown) are honest people with private security and will help you.
I say honest because this is what happens when laws are enacted that prohibit and regulate every day life / every day people are forced into the underground