Peso : Dollar 1.48 in one day, crash?

[London2Baires]

This is starting to look like a crash. I had been thinking that the 'we are going back to 2001' brigade were exaggerating... Now I'm not so sure... :-0

http://www.ambito.com/924540-dolar-imparable-se-dispara--148-a--2821-sin-intervencion-del-bcra

 

[perry]

There is no doubt that a rerun of 2001 is coming to Argentina soon . Most people have already left and the ones remaining are feeling anxious.

 

[London2Baires]

I guess we will see soon enough, but yep, not looking good :x

 

[sergio]

So what are you predicting? Frozen bank accounts?

 

[London2Baires]

The only thing I predict is that the situation is unpredictable. Anything else is pretty much pure speculation. Economists are great at explaining major economic changes after they've happened using game theory or whatever, they aren't so good at predicting before hand, so what chance do layman have? :x

*crosses fingers*

 

[UK Man]

The only thing I predict is that the situation is unpredictable. Anything else is pretty much pure speculation. Economists are great at explaining major economic changes after they've happened using game theory or whatever, they aren't so good at predicting before hand, so what chance do layman have? :x

*crosses fingers*

Indeed.

I had to remind my wife Britain went through a deep recession in 2008/9....it can happen to the best.

 

[steveinbsas]

If you had asked me on Tuesday I would have said I didn't think the exchange rate would reach 30 for a few months and might be somewhere between 35 and 40 by the end of the year.

It could hit 30 sometime in the next week...as possibly go even higher by the end of the month. It really "should have been forty" six months ago. I put that phrase in quotations because at least member expressed that opinion here about six moths ago and I think that post got several likes.

If the pesos continues to fall it will only be "good" for expats with dollar incomes, but we shouldn't be giddy (or gloat) about it. Our expenses will continue to rise as well. We'll just have a better chance of coping with it.

 

[Rich One]

The Equilibrium value of the dollar was $38 pesos 2 months ago. By year end? adding 20 % inflation should be near or above $40 pesos

Well on the bright side they foresee a sharp increase of incoming tourism

 

[Rich One]

If you had asked me on Tuesday I would have said I didn't think the exchange rate would reach 30 for a few months and might be somewhere between 35 and 40 by the end of the year.

It could hit 30 sometime in the next week...as possibly go even higher by the end of the month. It really "should have been forty" six months ago. I put that phrase in quotations because at least member expressed that opinion here about six moths ago and I think that post got several likes.

If the pesos continues to fall it will only be "good" for expats with dollar incomes, but we shouldn't be giddy (or gloat) about it. Our expenses will continue to rise as well. We'll just have a better chance of coping with it.

Steve thanks for your valuable imput. Your use of paragraphs is excellent making it easy to read...