How Is The Dólar Blue Determined?

[glasgowjohn]

Occasionally the rate drops when the government releases dollars to "friendly" cuevas suchas Piano and Puente , who are offical exchange houses but still actively trade in the market , I believe.

My cuevista friend in Caballito thinks they will make a huge splash soon to bring the rate down to 7 or 8 . But its all to do with guesswork . And its bllod difficult to outguess the K Government.

If the government does intervene most people feel the effect will eb short lived.

 

[Inferno.]

There is a magic wheel painted in the floor of a room hidden inside the casa rosada. It has numbers inside it, like +10, +15, +50, -10, -20, you get the drift. Every few days, at night, there is a gathering between Cristina, Magnetto, Lanata, Messi, Piano and other celebrities. They get naked and start dancing while holding bottles of crystal. When someone pass out, they stop dancing and start screaming at a frighten chicken that has a cowboy hat. The first one that grabs it, has the honor of removing his head in a ceremony called "Wonka Wonka".

Once they do that, they thrown the chicken at the floor and see where it moves. If the body fells at +10, then they set the price 10 cents above yesterday's price. If it falls in around +50, they announce a new measure to help fix the rate. Then at the next morning, they call the owners of the mayor cuevas and they tell them to sell at that price.

Here is some proof:

 

[Rich One]

http://www.cronica.c...ria-a-$650.html



Definitely not saying I believe this will happen. Don't know this news source nor do I believe that the government can control the dólar blue- but it led me to wonder, how exactly is the dólar blue determined?

Cronica paper has no credibility at all they fired a journalist for "Revealing the true Behind,",,," in Caribean Paradises...

http://www.ciudad.co...e-video-palabra

 

[French jurist]

Cronica paper has no credibility at all they fired a journalist for "Revealing the true Behind,",,," in Caribean Paradises...

http://www.ciudad.co...e-video-palabra

I think it's a scandal. But the video exposes quite smartly the facts in my own view.

 

[Peony54]

I don't believe the Cronica article, rather it's what led me to question how the dólar blue is determined, but just read another article about the government wanting to lower the dólar blue to 6.5
http://www.ieco.clarin.com/desopilantes-pedido-Moreno-quiere-fines_0_915508767.html
Isn't there a better way to improve their exchange rate other than scaring people into doing it? :huh:

Aunque cuando visitó la asamblea del Grupo Clarín,​

el funcionario K había manifestado que el precio del dólar paralelo no le importaba,

sus acciones de hoy lo contradicen, ya que busca​

sembrar temor

entre los compradores de divisas, para que crean que pueden perder dinero si compran a los valores actuales.​

 

[mulderfox]

it`s a black market. i don´t think the price can be determined, it can be affected of course but not determined. i have heard this rumour of the price dropping by devine government intervention several times and it was always false. the price goes up and down as in any market and lately only up and up.

 

[RSPlayer]

How is the price of a gram of cocaine determined? Could be some similarities to how the value of the "Blue Dollar" is determined.

 

[Rich One]

I don't believe the Cronica article, rather it's what led me to question how the dólar blue is determined, but just read another article about the government wanting to lower the dólar blue to 6.5
http://www.ieco.clar..._915508767.html
Isn't there a better way to improve their exchange rate other than scaring people into doing it? :huh:

If the value goes to $6,50 will be a stampede to buy dollars!!!

 

[Montauk_Project]

What I heard on the radio was this*:
to find out what the blue rate is, the people who work for a website or a newspaper call up various cuevas (illegal exchange houses) and ask
"what are you exchanging dollars for today?"
They then average this out and publish.
Now, let´s say you want to manipulate the blue rate for political reason. You call up a cueva and say "next person who comes in, sell them a pesos 10% higher than normal". When they get the call from the website or newspaper, they can say, without lying, "it is 11 to 1".
(that would be someone from the opo, from the government the request would be to lower to 7:1)
This is why it is often hard to actually get the published blue rate, you will most likely get a few cents less.
There is a lot of manipulation going on, from speculators, the government, the opposition, etc.
If you believe the blue rate as an economic indicator, then the economy has been in a freefall in the past few months. While there has been inflation, the economy is experiencing a low growth rate and there is inflation, but it is not in recession, much less a free fall.
Dollar manipulation has a long history in Argentina, this time the gov´t has been able to fend it off better than in the past.

*Radio show I listen to is "no somos nadie" and I would say it is pretty middle of the road--it interviews both gov´t and opo.

 

[TERKILD]

And again: The blue dollar I guess is more a sellers market than a buyers market! I have very hard to believe ANYONE can buy the dollar today at 9.60 peso, after it fall 10% from yesterdays high at 10.50. It is simply because there is no cueva thats gonna sell you any dollars, but you still have the tourist etc., that need to sell dollars today, hence pressuring the price downwards.
I actually asked my personal cueva about buying dollars....he said not possible! This contact is someone I have used for 6 years for various financial transactions.....so I trust what he say.