Exchange Rate Robbery or Reasonable?

[TheBlackHand]

That sounds about right.

She agreed to go by the posted rate at Banco de La Nacion, which is currently 4.28. PUF!

 

[tez]

Sooo... anyone have anyy dollars they want to sell? I'll give you 4.50.

 

[TheBlackHand]

That would be illegal and I might have to threaten to call AFIP on you. 4.24 and not a penny more.

Just kidding.

Sooo... anyone have anyy dollars they want to sell? I'll give you 4.50.

 

[Napoleon]

I sell my dollars to British expats for 4.80.

I like that rate. They are ok with that rate. And everyone leaves with a smile on their faces.

PS- My rent is based in pesos. And I like that as well. But then again, it's going up for the second time this year.

 

[French jurist]

I sell my dollars to British expats for 4.80.

I like that rate. They are ok with that rate. And everyone leaves with a smile on their faces.

Watch out they don't send you to a remote island

 

[French jurist]

Want to buy an expensive painting in a local auction house (prices listed in US$, auction will be in US$). When I asked about paying in pesos -> the "Blue" rate shall be taken into account, not the official one.

 

[BABusiness]

Since I can't buy U.S. dollars, my landlady agreed to accept pesos. Unfortunately she says she can get 4.80 pesos per dollar, but will generously accept only 4.60. This is a far cry from the approximately 4.24 listed on DolarHoy and the http://www.bcra.gov.ar/estadis/es030104.asp website. That last URL sounds fairly official.

Is there a way I can defend against this? Does anyone have any suggestions? (that don't involve bending over por favor ;=) I want to be fair with her, but not THAT fair!

She can likely on buy dollars at the black market rate as well. Her reasoning is perfectly justified.

 

[Napoleon]

I gave a tour to an economist from Switzerland. He wanted to pay a dollar fee in pesos and he looked up www (dot) x-rates (dot) com.

He didn't even think about finding out what the government rate was, because he travels all over the world several times a month and he understands real rates vs government rates. (Not everyone does and that's why many don't want to accept pesos.)

Today's x-rate is 4.78.

 

[Richard Tihany]

My advice to anyone is to negotiate the best rental rate possible and make it abundantly clear that you want the rate in pesos.

Not agreeing in advance is almost always a mistake. I could quote esoteric legal points such as the fact that under English and American law, courts are bound to construe ambiguities in favor of the non-drafting party to a contract. This has value in countries with English or American law--but only in rare instances.

The practical matter in Argentina is always to agree on all terms of a lease or other contract in advance.

 

[Bajo_cero2]

Have been following the dollar exchange fiasco and what your landlord is asking is considered illegal in the eyes of the government: AFIP. Travel companies were doing the same thing, pricing services in dollars and when the clients could not obtain dollars, they agreed to accept pesos at the black market rate. The government interpreted this practice as " money laundering" and threatened prosecution.

Bla.
There is some people trying to take advantage for sure. Something in between is reasonable. If the official dolar is 4.25 and the blue 4.75, then 4,50 is something fair.
Regards