The Logic Behind The Blue Rates

[Girino]

Can someone please explain me the logic behind the blue rate?

3 weeks ago we exchanged EUR for a rate higher than the one posted on dolarblue.net (15.50 when on dolarblue.net it was 14.80).
Today the euroblue rate is 16.18 (compra) and 16.42 (venta) and nobody offers more than 15.50.
Also, they use one rate in the morning, and another one in the afternoon.

Maybe I am just checking the wrong site, or there are other factors in place that I am not aware of. Thanks for your wisdom.

 

[PhilipDT]

Maybe I am just checking the wrong site, or there are other factors in place that I am not aware of. Thanks for your wisdom.

It's actually both.

Firstly Dollar blue . net sucks

Also the big difference between trading currency on the parallel market and the official market is the massively increased transactional risk. The guy buying your euros/dollars/reals etc is not just basing what he pays you on what he can sell them right now, but also trying to anticipate what he'll sell them for tomorrow.

I would speculate that this effect is much more pronounced for the Euro since the volume is so small compared to the dollar market.

 

[Rich One]

El Cronista is a good source for Euro rates, Blue Rates are not firm until 11 am, before that, just a guess by cuevas,

After 3 PM cuevas are covering their positions for what the rate may be tomorrow.That accounts for variations!

Best rates 1 PM Then Lunch Break till after 3 PM ! Less demand!


Dólar oficial: $ 8,1325
Dólar ahorro: $ 9,76
Dólar Blue: $ 12,07
Dólar Turista: $ 10,98
Contado con Liqui (promedio acciones): $ 10,32
Contado con Liqui (promedio bonos): $ 10,07
Dólar MEP: $ 10,76
Euro oficial: $ 11,27
Euro blue: $ 16,18
Euro turista: $ 15,21

 

[Girino]

El Cronista is a good source for Euro rates,
Euro oficial: $ 11,27
Euro blue: $ 16,18
Euro turista: $ 15,21

I just checked (45 mins after your post) and the rate whopped to:

Euro oficial: $ 11,28
Euro blue: $ 16,97
Euro turista: $ 15,23
I'll make another round of phone calls in a hour to see if they changed their rates.

 

[thorsten]

Euro rates are never as up to date as US$ rates, so to get a good indication just look how much the $blue surcharge is (in percent) and add it to the official Euro rate. In theory, the difference between AR$ and other currencies should be fairly equal; differences might arise due to bigger demands of main currencies like US$ or EUR, but if for example the US$ blue rate is 50% higher than the official rate and the Real blue is just 20% higher, you are not getting a good deal...

 

[Rich One]

Euro rates are never as up to date as US$ rates, so to get a good indication just look how much the $blue surcharge is (in percent) and add it to the official Euro rate. In theory, the difference between AR$ and other currencies should be fairly equal; differences might arise due to bigger demands of main currencies like US$ or EUR, but if for example the US$ blue rate is 50% higher than the official rate and the Real blue is just 20% higher, you are not getting a good deal...

The spread for the Blue Euro should be lower than for the US $ due to lesser demand!

 

[Rich One]

I just checked (45 mins after your post) and the rate whopped to:

Euro oficial: $ 11,28
Euro blue: $ 16,97
Euro turista: $ 15,23
I'll make another round of phone calls in a hour to see if they changed their rates.

The Euro spread is 50,4 % bet Official and Blue, seems pretty high !

 

[Hybrid Ambassador]

Rich One-san, what are the differences in your post below: Please define the Blue vs the Tourist value?
[background=rgb(252, 252, 252)]Dólar Blue: $ 12,07[/background]
[background=rgb(252, 252, 252)]Dólar Turista: $ 10,98[/background]

[background=rgb(252, 252, 252)]At what rate can I exchange my Dollars at the cueva with Joe-san escorting me?[/background]

 

[Montauk_Project]

keep in mind that what is published in a lot of websites/newspapers is not what is actually being paid, sometimes these rates are risen for politicla reasons (for example, they will do one sell of 100USD at 15 to 1, so when the newspaper calls they can say that, even though with everyone else they are paying 12 to 1). This is why it is very hard to get the actual blue rate. *
Blue = black market (illegal)
turista = official rate plus 35% surcharge if you are an Argentine who has been authorized to buy hard currency for tourism. this 35% tax is refundable (in theory) in your "ganancias" tax payment (ganancias means profit, but is more like an income tax the way it works now).
* The explication on why this happens is quite long, it used to be much more volitle, but with the invention of the dolar turista things have calmed down.

 

[thorsten]

The spread for the Blue Euro should be lower than for the US $ due to lesser demand!

As said, slight differences might occur due to different demands (and the demand for US$ is bigger than for EUR), but these should be marginal. The spread should be higher by the way, as spread is defined as difference between buying and selling rate, which is larger in case of smaller/more volatile markets