Prohibition on drawing from accounts in pesos from outside Argentina from April 3rd

[citygirl]

Cash is not a good long term investment no matter what currency it is in, never has, never will be. Some people have this delusion that the US dollar is some magic investment instrument.

Completely agree with that with one * - US dollar is NOT a magic investment instrument * except in Argentina*

I previously never kept any type of investments in cash. I do now however keep a decent sized balance b/c right or wrong, here USD is a useful investment instrument. Like I said, I saved several thousand dollars on my car purchase by having USD here in Arg with me. Ditto on some other purchases of decent value.

And with regards to permissions - maybe AFIP is doing everything by the formula and it's completely clear and transparent. I however, have a very, very, very hard time believing that. I mean really - does anything work that smoothly and clearly in Argentina? Much less a system whose fundamental point by design is to limit access to the pool of dollars? Obviously I'm not inside AFIP but as I said, just b/c things *should* work a certain way is certainly not predictive of how they will work. And from all the stories I hear from family, close friends and employees, there doesn't seem to be a lot of good experiences.

 

[dennisr]

Forex market: black, 4.785


http://finanzas.iprofesional.com/no...con-liqui-llega-a-5-y-el-blue-sube-5-centavos

http://translate.google.com/transla...ayout=2&eotf=1&u=http://www.iprofesional.com/

 

[John.St]

... The government now guarantees up to ARS120.000 per deposit holder ...

Providing how many hostages?

The way things have changed lately (8 moths or more), holding hostages is the only trustworthy government guarantee.

 

[genialf]

Argentines are already being affected: http://www.lanacion.com.ar/1458719-...sufren-las-trabas-para-cobrar-sueldos-y-becas

 

[After5]

How do the restrictions on buying dollars affect foreign tourists? If a tourist has unused pesos and wants to sell them for dollars when leaving Argentina, will the bank perform this transaction?

We are here on an extended stay, in a leased apartment with rent payable in dollars. When our U$S cash supply runs out, will we then have to take pesos withdrawn from the ATM and exchange them to dollars at the parallel rate?

It's a nice deal for the landlord. But not knowing about the new rules before arriving, we never contemplated having to pay a 10% premium to obtain dollars to pay the rent.