Dollar Blue Will Drop Like Stone

[garryl]

With the crazy printing of pesos, high inflation, and dollar control, there always will be a gap.
The only way to remove the gap is that the government adopts the blue rate and let
market dictates the rate. Sell your dollar as needed, that's the rule that Argies learned
for the past 100 years.

 

[pablosailor]

The dollar does seem to be dropping like a stone, Yesterday about 11:00AM I went to change some dollars. I have a couple of places that usually give me pretty good rates so I went to those. I have a friend who also needed to exchange some dollars, so we decided to try and "pool" them, hoping we could get a slightly better rate by changing $1,000. After checking several places, the best rate we could get was 8.15 and by that point we were happy to get it. The rates quoted were going down by the minute and it was looking like we were going to have to settle for 8.10. Changing a higher amount of dollars didn't seem to be of any help. Hopefully other people can just hang on to their dollars but I needed pesos.

 

[Joe]

Joe warned you back on May 11th when Blue broke 10:

[background=rgb(252, 252, 252)]The Blue Rate is overvalued. ... The rate should be around 7 or 8. ....[/background]

http://baexpats.org/...160#entry207720

 

[Farenheit]

Try the local Chino. They're still paying 8.50 in my neck of the woods.

 

[nikad]

Cuevas are buying at that price, but none of them are selling for less ... how sneaky huh??? hint... hint....

 

[pablosailor]

Joe warned you back on May 11th:

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http://baexpats.org/topic/25995-when-will-the-peso-hit-10/page__st__160#entry207720

It's true, Joe. I have admit that I am kicking myself that I didn't listen to you and change a bunch of dollars when the exchange rate was 10! But you know how that goes. The rates at that time seemed to have no ceiling in sight and I guess I was a bit greedy. Now that I changed a bunch of dollars at 8.15 I won't be surprised if the dollar shoots back up again, now. It's hard to know what to do.

 

[cbonanni]

The spread is real close which indicates continued uncertainty in the Blue Market. I think once the 2 big exchange house start trading , the rate will shoot back up. I still say the real question is : When will the peso hit 10 , again ?

Meanwhile rub those 50 centavos and hope they turn into a peso !

 

[Rich One]

Time to buy not to sell? New CC ATM restrictions abroad will impact?

 

[Joe]

Time to buy not to sell? New CC ATM restrictions abroad will impact?

Who knows now? The best time to have made a move was when the charts went parabolic - BUBBLE BUBBLE BUBBLE.

The long term trend has not changed, but how much time to shake off the effects of the parabolic move... Don't know.. Sorry Charlie.

 

[cbonanni]

Now Moreno is worried about price controls and baby subsidies. It's like they all have ADD. Let's control the blue rate!! Wait , let's do price controls . No let's make up a new bond !! How about a deal with Iran !! No , wait more tax on cc transactions..... OMG , WWHD ? ( what would Hugo do ? )