U$D vs Pesos hit 4.3 to 1 yesterday!

[sesamosinsal]

XE.com lists the rate at 4.03/1. They are ususally very accurate.

XE lists USD/ARS at 4.07

 

[Napoleon]

That's the bug 4.03 --> 4.30 (someone either had too much coffee or not enough)

OK, that's a big difference.

I've been getting 4.055 to 1 in the microcenter recently, but that was a week+ ago. I thought "Holy Moly 4.3 is a big jump."

Gracias

 

[barnaby33]

Well Bradly if you had sold pesos when I posted then bought them when you did, you could have made a lot of money. Of course there is a wee matter of leverage, but I'm sure there is a way to get that in forex trading!

 

[rrptownley]

X-rates regularly is too high in quoting how many pesos into $/pounds/Euros.

Stick with XE.

 

[Mano Negra]

Buy stirling, trading up strongly against the dollar (1.67) thus 6.70 to the peso. No reason to think £ wont go to $2

 

[French jurist]

Well Bradly if you had sold pesos when I posted then bought them when you did, you could have made a lot of money. Of course there is a wee matter of leverage, but I'm sure there is a way to get that in forex trading!

You can use a leverage of up to 400:1 in the forex market but, of course, higher the leverage, higher the risk (anyway, a few pips up or down and you can make decent money if you know various indicators & are able to read japanese candlesticks).

 

[French jurist]

Buy stirling, trading up strongly against the dollar (1.67) thus 6.70 to the peso. No reason to think £ wont go to $2

While there's no doubt that the US dollar will go down for the days & possibly weeks to come (there was a press conference 24 hours ago by the US monetary committee/FOMC = Bernanke didn't give many clues but QE2 is to stop + inflation is likely to increase soon in the US), the situation in the UK is tied to inflation, economic recovery and to the fight inside the UK monetary committee between the doves & the hawks.

If the GBPUSD had kept its position today above 1.6700, likely this could have triggered a bullish rally... But it failed.

A SAFE bet (we'll check in one or two weeks the validity of this bet ) would be to buy Euros now. Since the Fed did not intervene, it is very likely that the EUR could reach 1.50.
In fact, if someone wants to be against me that the EUR will reach 1.50 during next month, I welcome it .

 

[BAFinance]

To follow up, I initially got the information from my casa de cambio....They are exchanging dollars at 4.25....not just going off info on the net.

 

[PhilipDT]

They might be selling them for that but I can almost guarantee they are not buying them for that.

If they are, would you mind giving out the address?

I use dolarhoy.com.ar

 

[barnaby33]

As a derivative/bonus question what is the average spread that the Casa de cambios charge in BSAS?