Looking for economics professors, and/or people who have exchanged $ on blue market

[Rich One]

Is this a paying job...?? I guess must be in the thousands xpats go through the cuevas XP . When I walk by an ATM I get a feeling of relief...! Should add a reality Show on the Buquebus crossing to obtain the Dollars.

 

[El chabon]

I don't think nowadays 'the expat' is using the ATM much

 

[earlyretirement]

Does anybody red/know estimates about the total market for the blue dollar?

If I look at what's happening in calle Florida, it can't be a big market

I'd be leery with giving out a stranger your contact information about changing money.

Forget about thinking that any sizable volume happens on calle Florida. There are many financial offices where the volume of the exchanging is done. Most middle to upper middle class locals have a "guy they know" that exchanges funds for them.

The big firms that operate that deal with currency are very well run and been around for a long time. They have a very large base of clients including politicians. THAT is where the vast majority of the volume is. Not in the street.

 

[ElQueso]

Forget about thinking that any sizable volume happens on calle Florida. There are many financial offices where the volume of the exchanging is done. Most middle to upper middle class locals have a "guy they know" that exchanges funds for them.

You're right. They are working on large volumes mostly moved in and out of the country (however they manage their exchanges), as opposed to people going to them to buy or sell currency in cash (in relatively small amounts), which is why their volume is greater. And of course, when people are trying to get cash out of the country, they are paying more and usually dealing in cash and not bank transfers.

Most expats who have been here for awhile should have the same kind of contacts - Florida street, "jewelry stores", t-shirt shops and other likely places should be a convenience, from time to time kind of place. The "real" currency exchange places are much more private and secure, and you can easily get money out of your home country to here if you make such a contact, paid to you in your choice of dollars (probably euros as well, but I've never asked) or pesos at a great exchange rate. Of course it costs you 1% or 2% depending on your transfer which has to be figured in to the real exchange rate you get, but it's still better than Xoom.

The place where I go would certainly buy or sell dollars for me in cash, but that's because I'm a client. There have been times where I've needed to buy a few extra pesos with some cash I had on hand when going to pick up my wire transfer, but I've never gone to the place just to change a few hundred or even a thousand dollars. They certainly don't want a lot of "petty" traffic selling a few hundred dollars here or there.

Florida is just an easy access point to the blue market for tourists and locals who want to take a few hundred dollars out from under the mattress.

 

[lamarque]

You're right. They are working on large volumes mostly moved in and out of the country (however they manage their exchanges), as opposed to people going to them to buy or sell currency in cash (in relatively small amounts), which is why their volume is greater. And of course, when people are trying to get cash out of the country, they are paying more and usually dealing in cash and not bank transfers.

Most expats who have been here for awhile should have the same kind of contacts - Florida street, "jewelry stores", t-shirt shops and other likely places should be a convenience, from time to time kind of place. The "real" currency exchange places are much more private and secure, and you can easily get money out of your home country to here if you make such a contact, paid to you in your choice of dollars (probably euros as well, but I've never asked) or pesos at a great exchange rate. Of course it costs you 1% or 2% depending on your transfer which has to be figured in to the real exchange rate you get, but it's still better than Xoom.

The place where I go would certainly buy or sell dollars for me in cash, but that's because I'm a client. There have been times where I've needed to buy a few extra pesos with some cash I had on hand when going to pick up my wire transfer, but I've never gone to the place just to change a few hundred or even a thousand dollars. They certainly don't want a lot of "petty" traffic selling a few hundred dollars here or there.

Florida is just an easy access point to the blue market for tourists and locals who want to take a few hundred dollars out from under the mattress.

Good info, I personally just go and change money in Florida but i may need to get some of this contact, for now i have had no problem changing money in florida lot of people do it, some times there are even queue of people in the cueva i use lol

 

[El chabon]

I don't see a lot of movement in Florida, but see atleast 20 arbollitos

El Queso, I have neard of someone getting robbed of 100 dollar in calle Florida he wanted to change, I have however heard of entredaderes who go after large sums of cash.

No matter how private you do it but at some point you need to have cash and some guy(s) know how much, when and where you have it. This is not the case when you change in a cueva, arbolito or Chino

It all depends on the money you need but I would feel more secure change 500 dollar at 6 different places for 30 days then withdrawing and keeping 90k somewhere

 

[El chabon]

And even if you say the real transactions are made elsewhere the blue market needs both dollars and pesos to function and there can't be too many people bringing dollars into the country. Mostly expats with money abroad or people who have some dollars stashed away and want pesos.

And I am guessing expats only use the blue for there living expenses(so limited supply) if you have dollars in Argentina you can get a discount paying your rent in dollars, so I am guessing most people go that route

Xoom doesn't also not help the supply of the dollars to the blue, because dollars never enter into Argentina

 

[dennisr]

Blue market is quite sophisticated. A month or so ago read where it was estimated at about 50 million dollars a day is exchanged. Some put the figure at 20 million a day. Have to believe that number from what I have seen and been told. Watched two suitcases of something leave a room while I was waiting to exchange my paltry sum one day. I am convinced the government and banks are involved in manipulating this market.

Added scource for skeptics
http://blogs.ft.com/beyond-brics/20...-the-stock-market-in-argentina/#axzz23RPU67Z2

 

[El chabon]

Everybody knows that the BCRA sometimes intervenes, the drop from 4.60 to 4.20 probally got to do with that as well besides from less demands because winter holiday ended.

I am very surprised as well there are none background stories in the papers, it's basically a none existing practice.

20 milion a day is about 35.000 real-estate transactions of 150.000 so it could be possible

But from what I saw there can't be a very big supply of dollars

 

[El chabon]

I mean AFIP authorized 8.000.000 dollar a day for a foreign travel last week, can't imagine that number begin higher then the blue because everybody in his right mind will try to get a hold of dollars at the official rate. And people have dollars 'around' they can use to travel and Credit cards as well