Dollar dropping against the peso!

el_expatriado

el_expatriado

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It seems the peso's slide has officially stopped in September and now the peso is actually gaining against the dollar in the informal (free) market along with the blue chip swap market.

The dollar hit 6.14 today. If this trend continues it'll be below 6 by the end of the month. Blue chip swaps are going for 6.22 today down from a high of 6.50 or so in september.

My guy tells me during the last week absolutely no one was selling pesos, everyone was selling dollars. It seems companies have stopped sending dollars abroad as well, which is what is bringing down the rate for blue chip swaps. You'll also note that XOOM, which uses blue chip swaps for its transfers, is down to 5.89 today.

This is a very interesting development. I'm still not sure what to make of it. It looks like the predictions for a $7 peso price for the dollar by the end of the year might not be right after all.
 
I am expecting the Peso to start sliding again in December and January, if you looked at when the Blue dollar rate peaked around 6.80-6.90 it was during the Winter holidays, and now with it even harder to buy official Dollars I expect it to start moving again during the Summer travel season, wouldn't be surprised if it broke 7.
 
el_expatriado said:
It seems the peso's slide has officially stopped in September and now the peso is actually gaining against the dollar in the informal (free) market along with the blue chip swap market.

The dollar hit 6.14 today. If this trend continues it'll be below 6 by the end of the month. Blue chip swaps are going for 6.22 today down from a high of 6.50 or so in september.

My guy tells me during the last week absolutely no one was selling pesos, everyone was selling dollars. It seems companies have stopped sending dollars abroad as well, which is what is bringing down the rate for blue chip swaps. You'll also note that XOOM, which uses blue chip swaps for its transfers, is down to 5.89 today.

This is a very interesting development. I'm still not sure what to make of it. It looks like the predictions for a $7 peso price for the dollar by the end of the year might not be right after all.
Click to expand...
I don't get it either. QE3 ramifications ? IMF report, and the possibility of Argentina actually making an effort to get its house in order ? EU hysteria easing slightly ? Chavez taking a powder ? Sunspots ?
 
Mother crusher. I organised a large importation of foreign currency two days before the peso began to slide back in April and lost out badly on the exchange rate.

Yesterday I solicit the same and I notice the the compra de dollar azul dropping.

I think I may just be that lynchpin.
 
I think what Greg said makes sense. This isn't the holiday season. Demand for dollars drops and so the price organizes accordingly.
 
i'm going with the small drop in the USD to all other currencies since QE-to infinity...
 
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