Dollar Up

#1

The dollar just went to 18.46 so probably 18.2 from money changers. Any feelings on if it will continue it’s upward move? or not?


Any thoughts on causes?


Thanks, T/
 
#2
18.75 to buy. I have no idea why it has moved like this, but as an expat living on USD, I'm glad to see it. The USD exchange rate has not kept pace with inflation since M's ascendancy. "Miami , here I come" may be a bit premature.
 
#3
Read Ambito.... on the subject


The dollar will be above $ 20 and inflation will exceed 15% by the end of 2018, estimated CEOs of the country's leading companies.


52% of the interviewees estimated that the dollar will break the $ 20 barrier and will be between $ 20 and $ 24 during 2018. :D


https://translate.google.cl/translate?hl=en&sl=es&u=http://www.ambito.com/economia/mercados/monedas/dolar/&prev=search
 
#6
Per Ambito.com......http://www.ambito.com/economia/mercados/monedas/dolar/

INFORMAL is the black market rate.....

$18.90 for VENTA, which means rate to BUYERS of dollars.....$18.50 for COMPRA, which means rate to SELLERS of dollars.

INFORMAL

[background=rgb(249, 249, 249)]+2,33%[/background]
[background=rgb(249, 249, 249)]18,500 COMPRA[/background]
[background=rgb(249, 249, 249)]18,900 VENTA[/background]
[background=rgb(249, 249, 249)]26/12/2017 - 16:05 FECHA[/background]


I know, it's confusing at first.
 

Ries

Registered
#8
the actual rate at my neighborhood cueva yesterday, dec 26, was only 17.75 or so to buy your dollars. Like many internet numbers, these are "theoretical", which is to say, if you are dealing in hundreds of thousands of dollars, you might get this rate. However, on the ground, like most things in Argentina, there are frictional costs which means you and I pay more, and get less.

Which is not to deny that the overall trend is that the dollar will increase in value vs the peso.
I think there are some serious structural reasons that the dollar is so low against the peso- one of which being the hundred billion dollars in debt Macri has issued, denominated in dollars, which brings dollars into the country, making them artificially common, and, therefore, cheap.
Then there is the long held belief that dollars are safer, so many people buy and sell them here.
And, of course, the holiday season always distorts the exchange rate, as people prepare for vacations in countries where the argentine peso is not desired, and exchange rates for the peso are even lower than here.
There are many countries, some much closer physically to the USA, where people conduct all their business in local currency.
 
#9
Ries -
the actual rate at my neighborhood cueva yesterday, dec 26, was only 17.75 or so to buy your dollars.

....then there is the long held belief that dollars are safer, so many people buy and sell them here.

Dec. 26 - The sell rate at Maguitur, an official exchange house on Sarmiento x Florida St. was AR$17.70. Minimum accepted is US$100 in the form of a 1 single bill. Out of 11 customers waiting, only one was selling dollars.....and didn't need to stand in line. The rest appeared to be locals who were buying dollars.

Agree....and, of course, the holiday season always distorts the exchange rate, as people prepare for vacations in countries where the argentine peso is not desired, and exchange rates for the peso are even lower than here.