Pesos To Dollars Official

[Redbeanz]

You could still try to buy something with someone's credit card outside and loose 35% (once I bought whole kitchen for the friend...), but if not, Dollar blue is OK. After the elections you will feel rich, for sure

Explain, please?

 

[ben]

I guess you're right.

It just feels stupid that "legal money" becomes "no better than dirty money" but hey... TIA (This Is Argentina...)

It's a mentality thing.

Most of the people who actually deal with money accepted within a month or two of the cepo that the blue price IS the real price. Anything else is a deal, a way of getting dollars below market price.

It manifests in a lot of ways. Three weeks after the cepo came out, you felt guilty selling dollars to family at the blue rate, or conversely felt a bit ripped of when buying from family at the blue rate. Today there's none of that: the legal rate is a fiction, irrelevant to daily considerations. That once in a while you may be lucky enough to get something at this rate does not make it less fictional. In the same way that the price a box of corn flakes is the price you pay in the chino for it, irrespective of what it costs in the mercado central, the price of a dollar bill is ~ARS 14.80.

If you get paid 10000 pesos per month, your salary is USD 675. That you might be able to get a few dollars at the legal rate is a Black Friday deal, nothing more, nothing less. And as nebulous as most Black Friday deals by the way.

 

[fcoulombe]

I would argue that this is only true for imported goods (most of the stuff consumed) which is somewhat why the whole thing came in to place.... to encourage the local market.


I think they failed miserably. They sure crippled the whole software and IT industry for no good reason. I think this is also true for cars and housing.

 

[ben]

It's not just true for imported goods, it's true for money in whatever context (almost). Enough things depend on this rate that the effects trickle down to the entire economy in short order.

Any context in which the subject of money comes up, be it travel, importing goods, what ever - the actual value of a dollar is whatever the market pays for it.

That the govt/central bank promises to pay you more for that dollar does not matter, considering that generally speaking it will not, in fact, pay you more for that dollar.

If it did, the blue rate would not be what it is. Nobody here is a sucker, paying more than necessary - the price is what it is because things are as they are.