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

[DerAchtundzwanzig]

Yup, but in order to buy 2000 dollars (ARS 16,000), you need to make ARS 80,000 per month en blanco. I doubt any one who makes that kind of money is interested in taking all that trouble to make a 4,800 pesos profit.

 

[AmigoArtistico]

Yup, but in order to buy 2000 dollars (ARS 16,000), you need to make ARS 80,000 per month en blanco. I doubt any one who makes that kind of money is interested in taking all that trouble to make a 4,800 pesos profit.

How do you think they got to the point of making 80,000/month? (And remember, that's $4,800 profit per month, potentially.)

 

[Rich One]

Yup, but in order to buy 2000 dollars (ARS 16,000), you need to make ARS 80,000 per month en blanco. I doubt any one who makes that kind of money is interested in taking all that trouble to make a 4,800 pesos profit.

Agreed but if you plan to travel you buy in advance your dollars save 15 % and secure lower interest rates along the year!
24,000 dollars per year, Savings 3600 dollars. At presents rates,

 

[thorsten]

Yup, but in order to buy 2000 dollars (ARS 16,000), you need to make ARS 80,000 per month en blanco. I doubt any one who makes that kind of money is interested in taking all that trouble to make a 4,800 pesos profit.

Most more well-situated Argentines I know are used to changing a big chunck of their income to US$ anyway. So now they just buy 2000$ from the bank instead of a cuave and - if they need AR$ cash - make an additional nice margin on it.

 

[Rich One]

Most more well-situated Argentines I know are used to changing a big chunck of their income to

US$ anyway. So now they just buy 2000$ from the bank instead of a cuave and - if they need AR$ cash - make an additional nice margin on it.

Also applicable to expats residents with a CUIT and local income!

 

[DerAchtundzwanzig]

The thing is - US$2000 is the legal limit, but it's not necessarily what they'll let you buy. Everything sounds good in theory, but in practice, it's very unlikely AFIP will authorize someone to exchange US$2000 (24k / year) every month, even if they make 80,000 pesos a month.

 

[syngirl]

People making that much money aren't going to want to draw even more attention from the AFIP! They probably have a couple of "baldios" in Pinamar and Carilo that they don't need them snooping around. Most expats with CUIT and local income probably aren't making that -- 80,000 net pesos is about 130,000 pre tax no?

 

[syngirl]

And you have to remember that this programme is only for individuals, not companies. A lot of people making big swathes of money are doing it via their company, but doubtful they are paying themselves a very large income en blanco.

 

[DerAchtundzwanzig]

People making that much money aren't going to want to draw even more attention from the AFIP! They probably have a couple of "baldios" in Pinamar and Carilo that they don't need them snooping around. Most expats with CUIT and local income probably aren't making that -- 80,000 net pesos is about 130,000 pre tax no?

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.

 

[pitipur]

Assuming you need pesos to live, what investment can give you say 4,800 pesos on 2000 dollars with an investment of 19,200 pesos in one day ! Or 25 %..

valid point. I guess I was thinking that there was some rule that you could only change X number of dollars per month, and that it was much less than U$S2000.