Peso Next Week

[goodboyjakey]

Anyone have any thoughts on which way the peso will go next week?

 

[thomsono1912]

Same way it goes every week

 

[thorsten]

If someone would know the movement of currencies, he would be very rich... Also, are you asking for the official rate or the blue? For the official, I'd imagine the government tries to stabilize it at around 8 for the near future. For the blue, you have a general trend which goes upwards for obvious reasons, but currently banks have to sell their foreign currency reserves, which leads to the pressure we are currently seeing. I think they have time until April, but not sure how much of their currencies are already sold.

 

[glasgowjohn]

Up and down or maybe down and up...

 

[French jurist]

I have confidential news from a very serious source.
The peso will get reevaluated next week, so expect a Blue rate of 8 to 1!

Hurry up before it's too late!

Since I'm a nice guy, I'll take your dollars today at 9 to 1

 

[goodboyjakey]

It was the blue rate I was curious about as it seems to be falling back and wondered if there was some intervention going on.

 

[ajoknoblauch]

It was the blue rate I was curious about as it seems to be falling back and wondered if there was some intervention going on.

Figure on the Kirchneristas to turn around any brief decline of the dollar.

 

[thorsten]

http://www.bcra.gov.ar/pdfs/comytexord/A5536.pdf

 

[Inferno.]

It was the blue rate I was curious about as it seems to be falling back and wondered if there was some intervention going on.

The Central Bank launched 10 days ago a communicate (A5536) to all banks indicating they were reducing from 60% to 30% the maximum amount of USD they could have in their portfolio. This means that they had to sell around USD $3.500 millions in the open market, causing a decrease on the official rate, blue dollar, contado con liqui, etc. I haven't seen any news regarding how much they already sold and what's left, but due to the decrease in the exchange rate it had to be a lot. They have time until April I think to comply.