Official exchange rate drops 2.5%

[surfing]

It could very well have something to do with soy. See this: http://www.meattradenewsdaily.co.uk/news/050412/argentina___strike_will_hit_soy_harvest.aspx

But to what extent can the govt manipulate that price? How would they do it?

They do it every single day by buying pesos in the forex market.

 

[gsi16386]

Considering that most news is about the currency rate going out of control and most expats getting giddy due to the fact that all these poor Argentines are slowly watching their life savings while their $1,000 they have in the bank is somehow expanding, this is for the Argies.

http://www.youtube.com/watch?v=MDtSf9pseOw&feature=player_embedded

 

[surfing]

Considering that most news is about the currency rate going out of control and most expats getting giddy due to the fact that all these poor Argentines are slowly watching their life savings while their $1,000 they have in the bank is somehow expanding, this is for the Argies.

http://www.youtube.com/watch?v=MDtSf9pseOw&feature=player_embedded

Who's giddy? There is no good news for anyone that I can see!

 

[gsi16386]

Who's giddy? There is no good news for anyone that I can see!

I agree, but considering you are a veteran I'm sure you too have read numerous previous posts with giddy expats just so excited about the devaluation of the peso and their dollars becoming more valuable. I'm just sayin...I honestly hope it continues to go down, but we ALL know that won't be the case.

And it was a joke, so take it with a grain of salt.

 

[surfing]

I agree, but considering you are a veteran I'm sure you too have read numerous previous posts with giddy expats just so excited about the devaluation of the peso and their dollars becoming more valuable. I'm just sayin...I honestly hope it continues to go down, but we ALL know that won't be the case.

And it was a joke, so take it with a grain of salt.

Fair enough but I have been here seven years and my dollars have only gotten less and less and LESS valuable ---- about 400% less valuable in real purchasing power so I have no idea what you mean.

 

[surfing]

Oh well ---- never mind. It's back to $4.50 on FX so I guess the fat finger hypothesis was correct. What a world.

 

[solerboy]

I've seen these blips happen before, normally quite early in the morning.

 

[sesamosinsal]

It looks like Yahoo! Finances, et al are back to normal. For the record, I went to the ATMs. I never withdrew any money because it shows asks you to confirm if you want to pay the fee for withdrawal, which I know is at $4.00; of course I declined. I checked the ATMs twice, once at noon, and another around 4 p.m. Both times the fee assessed was at $18.08 pesos, or $4.52 ARS/USD.

Very strange occurrence!