New Law To Close Cuevas Considered

[Matt84]

My money guy has not had pesos to exchange this whole week and today told me the market is gone and he doesn't know when it will return, but will call me. Has anyone else been able to buy pesos at blu rate this week and if so, where in capital federal? My brother in law told me on 12/30 that there has been a massive police raid this week and they are closing any cueva they can find.

don't worry, as long as people don't begin rolling the lower denomination notes into female hygiene products there's no shortage of pesos or of people wanting to get rid of them.

 

[bobsnowpuppy]

Having no pesos is one thing , not willing/able to buy dollars at Blue rate is something different. Please explain?

On 12/31 he said he couldn't get pesos to buy my dollars - he ran out on Tuesday. Today he said all his sources were shut down so he is stuck until he can get a supply of pesos to sell. He has been a good guy, so it would be hard for me to say if he is holding out or really has no resources. I was hoping someone else might be able to shed some light on what's going on. For now, it looks like I have to take a trip to the mother in law to borrow for the time being.

 

[Matt84]

the dollar has gone up a little bit, but the caves i know in recoleta remain open...

 

[ElQueso]

I haven't tried to change money, but I'm betting it will be back if it is gone widespread.

Most likely, there were no pesos because the banks were closing down for the holidays, I'd bet. The arbolitos (the guys who do the money-changing for the most part) get their money from the cuevas (who are the big-money guys). The cuevas get their money from the banks. I've often had issues if it was near a holiday and a lot of guys have been out of pesos.

As far as the massive raid goes - if it happened, it's been happening on and off for the last couple of months anyway. I mean big raids. They've been trying to keep the blue rate down for the last couple of months and they were using the raids as part of the "convincing". It's after the holidays and they may be trying to remind people that they don't want the blue rate to go so high, which it was probably likely to do.

If the government has actually found a way to shut down the cuevas, then I'm outta here, to a place more congenial to reality, like Paraguay. Hell, I'll leave my apartment, furniture, everything and get out of this crazy place.

But I don't think that's the case.

 

[nlaruccia]

They're will never be a shortage of people willing to buy your dollars. Almost every lawyer, accountant, and so forth that I've come across has told me that anytime I need pesos they can provide them. People will start exchanging privately amongst themselves and with their acquaintances.

 

[bobsnowpuppy]

Thanks everyone. Problem solved, found someone nearby.