How much is the Arg. peso really worth?

[on the brink]

In Uruguay, it takes 275 pesos argentinos to buy a single US dollar. Makes one wonder how much the peso is really worth.
The BROU buys Arg. pesos for 0.16 Uruguayos, and sells them for 0.62 - that's a hair-rising spread.

Un indicador que mete miedo: en Uruguay ya piden unos 275 pesos argentinos por cada dólar

La paridad implícita del mercado cambiario uruguayo refleja una expectativa de devaluación cada vez mayor. Si sube el blue se alejan las puntas del spread

www.iprofesional.com

 

[jblaze5779]

I wonder how I can use this to buy 275 pesos for a dollar and pay my rent in pesos.

Some kinda convoluted transfer to uruguay then to argentina?

This goes along with a thought I had last year, if the Arg gov is out of dollars why not just offer double the pesos to bring dollars to Arg? They're worthless to the gov anyway so why not just encourage people to bring them with a good rate.

 

[Aztangogirl]

For those of us who don't live in Uruguay, what difference does that make? The current blue rate here is Buy 1.34 Sell 1.38. The official bank rate is 73.58. I get my money each month via Western Union. Current rate 131.37. That is today. It changes almost everyday.

 

[jblaze5779]

If you could figure out how to sell your WU dollars for AR pesos in Uruguay and then transfer them to Arg you'd be in business...

 

[Aztangogirl]

If you could figure out how to sell your WU dollars for AR pesos in Uruguay and then transfer them to Arg you'd be in business...

Why? I am very comfortable here on my social security. And I don't have a bank account here. Argie banks suck.

 

[Rich One]

I wonder how I can use this to buy 275 pesos for a dollar and pay my rent in pesos.

Some kinda convoluted transfer to uruguay then to argentina?

NOT at all. If you sell your dollars in Uruguay you get $72.386 pesos Arg per US dollar 275/3.8 = $72,386 Argentinos


The other measure of the loss of confidence in the Argentine peso is the widening of the spread. In Creole, the distance between the tips of the buyer and seller exchange rate. That would be because in Uruguay at the time of buying it, the Argentine peso is trading at 0.62 Uruguayans. That is, they take it at 0.16 Uruguayans when they buy it but sell it at 0.62. An abysmal difference between the purchase price and the sale price. This is a difference of 3.8 times to be exact, or 280%.

 

[jblaze5779]

Sounds like this plan wouldn't be for you then. I'd rather change my dollars for 275 pesos vs 131.

 

[jblaze5779]

NOT at all. If you sell your dollars in Uruguay you get $72.386 pesos Arg per US dollar 276/3.8 = $72,386 Argentinos


The other measure of the loss of confidence in the Argentine peso is the widening of the spread. In Creole, the distance between the tips of the buyer and seller exchange rate. That would be because in Uruguay at the time of buying it, the Argentine peso is trading at 0.62 Uruguayans. That is, they take it at 0.16 Uruguayans when they buy it but sell it at 0.62. An abysmal difference between the purchase price and the sale price. This is a difference of 3.8 times to be exact, or 280%.

right I see what you're saying.

 

[Rich One]

Sounds like this plan wouldn't be for you then. I'd rather change my dollars for 275 pesos vs 131.

Well go and try it..!!

 

[jlynch]

In Uruguay, it takes 275 pesos argentinos to buy a single US dollar. Makes one wonder how much the peso is really worth.
The BROU buys Arg. pesos for 0.16 Uruguayos, and sells them for 0.62 - that's a hair-rising spread.

Un indicador que mete miedo: en Uruguay ya piden unos 275 pesos argentinos por cada dólar

La paridad implícita del mercado cambiario uruguayo refleja una expectativa de devaluación cada vez mayor. Si sube el blue se alejan las puntas del spread

www.iprofesional.com

It must be a very small market because you would want to be stupid to go to Uruguay with argentine pesos in cash (or anywhere else in the world) or have some sort of emergency situation where all your cards are not working. Any person who deals in cash, would change pesos in cash to USD via a cueva or what ever source they have before going to uruguay.

a few years ago when i was in fray bentos, some of the resteraunts would catch some of the argentine tourists out who were on day trips when they didnt know what the exchange rates for the URU to USD or URU to blue rate was.