So Now That Argentines Can "buy Dollars"....

[dennisr]

EDIT: can the governmental servers handle 15.000 queries an hour? I guess yes?

I do not know. All I have ever heard is how bad the AFIP system is. USA should have hired AFIP for their health care web site.

 

[ARbound]

AFIP reports 121,000 transactions in 8 hours for $ 59,000,000.
http://www.iprofesio...r-us59-millones

That is about 15000 inquiries an hour or about 252 a minute. Quite a system they have. Think I have the numbers correct?

$15,840,000,000.00 per year at this rate if the numbers are true.

 

[ben]

I second that; the blue dollar market existed many, many years before the cepo started in 2011. Mostly because anyone, but especially rich people, don't want to draw attention from AFIP, and every operation made at an official exchange agency has always been registered. Before the cepo, the spread between the official and the blue exchange rates was roughly 5-8%, but it was worth going to a cueva if you didn't want AFIP snooping around your finances.

Exactly, at the time the cepo started the dollar was trading around 4, and there was a 30-cent premium for buying in private. The only difference back then is that tourists could change with little to no controls (as could anyone else, but tourists had little reason to be concerned about AFIP keeping tabs on them).

 

[sleslie23]

edited too, lol

EDIT: can the governmental servers handle 15.000 queries an hour? I guess yes?

That's 4.17 per second. That's actually quite slow in terms of electronically processing transactions (not accounting for lag in connecting, slow network, etc.) But considering this is Argentina, if they do one per day, that's moving fast.

 

[CarryOn]

$15,840,000,000.00 per year at this rate if the numbers are true.

Except there is no way the initial uptake will remain consistently at this level. After an initial surge, it will trend down as people hit their annual maximums. As has been discussed, there's a real limit to how many people qualify for this due to wages under the starting level (many by a little and many by a lot) and those earning part or all en negro regardless of total monthly salary.

 

[syngirl]

Except there is no way the initial uptake will remain consistently at this level. After an initial surge, it will trend down as people hit their annual maximums. As has been discussed, there's a real limit to how many people qualify for this due to wages under the starting level (many by a little and many by a lot) and those earning part or all en negro regardless of total monthly salary.

Well you can't actually hit your annual maximum before the year is over -- you are only authorised to purchase up to your invidual maximum per month -- but you can't purchase more, no can you roll anything left into the next month. ie if they approve you for 1000 bucks this month (which today is 28th, good luck getting that money before the month runs out), but you only have enough cash on hand to purchase 700, the 300 balance will not be rolled to next month. So you can't just wait until you get paid your aguinaldo and then purchase your year's approval, you can only buy month by month.