Dollar dropping against the peso!

[dennisr]

Printing presses cannot keep up:
http://www.cronista.com/we/Desventuras-economicas-del-billete-del-millon-al-corralito-de-los--100-20121019-0024.html

 

[John.St]

These flucuations are caused by the Argie Central Bank intervening in the foreign currency market to buy Pesos, hence propping up the peso. Problem is, the bank doesn`t have sufficient dollars to do this for long. It is an attempt, most likely, to simply relieve some of the pressure on the government over the dollar clamp.

RR

Exactly, and unfortunately repeating the mistake made in 1999-2001.

 

[camberiu]

Great video explaining the current economic strategy of Argentina and most other nations, including the ECB, the US, Brazil and others.


http://youtu.be/j2AvU2cfXRk

 

[Nounou]

The government is making the killing. They set the official rate, the market sets the actual (unofficial, thorn in the government's foot) rate.

If the pricing difference between official and blue rate surprises you, you'd best do some more homework before coming down. Make sure you realize that Argentina, specifically Buenos Aires, isn't the place it was even 1-2 years ago. Still some fun to be had, but don't come down expecting the "Paris of South America."

Fair comment, and I should add that I am under no illusions as to what Argentina has to offer. "The Paris of South America" can be equated to "The Lucky Country" (Australia), all in all pure spin.

I've been snooping at a few of the other threads and have noted the places where you can get a good deal on exchange. Things may well have changed by the time I arrive, but regardess it's all good information. Thanks for taking the time to answer

 

[El chabon]

Yesterday in La Nacion there was a piece of in which currency people save if they can save and most would either spend there pesos or save them at home.

Spending is a choice offcourse but saving in peso's is totally worthless offcourse, seems that so far there are not too many people buying dollar blue as a way to save. In december when aguinaldo will paid this must happen, especially with holiday season around.

Can't believe neither people didn't so far head over to Uruguay and open accounts there or give there dollars to family members to store them abroad