Some cuevas have "gone legit" - will they go underground again as capital controls get worse?

[camel]

I've noticed my friendly neighborhood cueva of many years is now all legit, with a fancy exchange rate display in front and everything. What will happen as the government imposes more capital controls? If the dolar blue rate diverges from the official rate a lot, will the cuevas go back to the blue rate, and go back underground? Or will the legit cuevas stay legit, and new underground cuevas pop up instead?

 

[ben]

no reason for a legit cueva not to open a less formal adjunct.
just make sure to keep the books separate

 

[garryl]

It's heading there for sure. Macri announced partial currency control.

 

[gracielle]

.....If the dolar blue rate diverges from the official rate a lot, will the cuevas go back to the blue rate, and go back underground? Or will the legit cuevas stay legit, and new underground cuevas pop up instead?

02 September 2019

Dólar blue: con las restricciones se amplió la brecha con el oficial

Mientras en la city el dólar ceró a $58,41, el dólar blue subió 50 centavos y hubo "cuevas" que lo vendieron a $64. Hasta la semana pasada la diferencia era de $1.

www.ambito.com

Blue dollar: with the restrictions it widened the gap with the official
While in the city the dollar closed at $ 58.41, the blue dollar rose 50 cents and there were "cuevas" that sold it for $ 64.
Until last week the difference was $1.

 

[garryl]

02 September 2019

Dólar blue: con las restricciones se amplió la brecha con el oficial

Mientras en la city el dólar ceró a $58,41, el dólar blue subió 50 centavos y hubo "cuevas" que lo vendieron a $64. Hasta la semana pasada la diferencia era de $1.

www.ambito.com

Blue dollar: with the restrictions it widened the gap with the official
While in the city the dollar closed at $ 58.41, the blue dollar rose 50 cents and there were "cuevas" that sold it for $ 64.
Until last week the difference was $1.

Welcome back to CFK's era.

 

[Rich One]

Value paid this morning at a cueva per dollar $60 pesos.. The spread is like 2 pesos minimum

 

[camel]

Great info everyone but can anyone actually answer my question about the cuevas, from experience?

If the dolar blue rate diverges from the official rate a lot, will the cuevas go back to the blue rate, and go back underground? Or will the legit cuevas stay legit, and new underground cuevas pop up instead?

 

[Ries]

Once you tell us exactly what the laws will be, and how they will be enforced, and what the exchange rate will be, then we can give you an exact answer. And, of course, tell us which cuevas will be robbed- we had one in my neighborhood, and a woman was robbed at gunpoint of $10K USD while sitting in the Kentucky after getting her cash. The cueva closed, as a result.
So- in your imaginary future- will there be robberies?

In other words- Nobody knows.

 

[Bajo_cero2]

Welcome back to CFK's era.

At the end they are just a bad copy...

 

[camel]

Once you tell us exactly what the laws will be, and how they will be enforced, and what the exchange rate will be, then we can give you an exact answer. And, of course, tell us which cuevas will be robbed- we had one in my neighborhood, and a woman was robbed at gunpoint of $10K USD while sitting in the Kentucky after getting her cash. The cueva closed, as a result.
So- in your imaginary future- will there be robberies?

In other words- Nobody knows.

"Nobody knows" is a fair answer - all other answers would be speculation, I understand that. But people were out in left field replying with answers to a question I didn't ask.

There will be robberies in any future.