Do I need to think about inflation even if I live with USD from overseas rental income

ben

Active Member
This is not accurate.
It was never impossible to get dollars, unless you're talking about the legal rate.
The blue rate was, of course, widely accessible, and shops generally accepted USD at a discount to the legal rate.
To use the legal rate as a barometer in those days makes very little sense.
I made a type in the above comment, I meant of course to write that shops accepted USD at a discount to the blue rate, not the legal one.
 

Daniel82

Registered
It was possible to get dollars through the cuevas, but I do recall a time when some restaurants were accepting dollars (namely those in Puerto madero) at very interesting exchange rates possibly as an easier and “off the books” way of obtaining those dollars.
 

Daniel82

Registered
If I recall (and please correct me if I’m wrong) the whole blue/legal rate difference didn’t start to occur until the official embargo on foreign currency occurred (circa 2012, around the start of CFK’s second term).
 

ben

Active Member
It was possible to get dollars through the cuevas, but I do recall a time when some restaurants were accepting dollars (namely those in Puerto madero) at very interesting exchange rates possibly as an easier and “off the books” way of obtaining those dollars.
Everything done through cuevas is by definition off the books.
That said, it was absolutely common, to the point that the government was discussing its plans to lower the blue rate. (Think about that - where else on earth does the government publicly, on the record, discuss its plans concerning exchange rate that strictly speaking it considers illegal?)

Anyways, stores commonly accepted USD at a far better rate than the legal one (duh), but at a discount to the blue rate. Nothing about this was easier, but it was simply cheaper dollars.
As one could expect them to - businesses try to make money.

If I recall (and please correct me if I’m wrong) the whole blue/legal rate difference didn’t start to occur until the official embargo on foreign currency occurred (circa 2012, around the start of CFK’s second term).
There was always a small difference, much as there is today.
It did not become serious until serious difficulties arose in getting USD via official channels.
 
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