Western Union money transfer

[jblaze5779]

wow. 285 on western union! i wish i made some transfers... man. will it continue to go lower?!

Never bet on the peso.

 

[sneakrnet]

I'm not a financial expert by any means but in my opinion, this is all hype and once everyone realizes the "emperor is (still) as naked as" last week, the rate should go back up.
Seriously, what besides absolutely nothing has changed regarding prices here? Anything go down?

It's lipstick on a pig but lipstick quickly wears off.

They just raised interest rates 8% (which compounds monthly) and made a few other moves to reduce the number of pesos in circulation. This is one of the biggest reasons for the drop in the dollar.

 

[IamWaldo]

i am happy i exchanged i guess, only 290 to the dollar. that's a big jump.

 

[hotfuzz]

They just raised interest rates 8% (which compounds monthly) and made a few other moves to reduce the number of pesos in circulation. This is one of the biggest reasons for the drop in the dollar.

I wonder how much is in relation to that versus the Massa effect. Most likely a mixture of both at the same time.

 

[hotfuzz]

Anyone had any success in contacting WU to finalise a payment that shows as "in progress"? I tried to pay via bank transfer but wasn't able to receive an SMS confirmation from my bank so just left it.

Payment didn't come out of my account but it still showing as "in progress" on my account. Would WU allow me to actually pay it or use my debit card with that MTCN (it had a good exchange rate).

 

[Zetas]

WU was 285 this morning.
Now it's 273,13

 

[jblaze5779]

Haven't been following the news this weekend or today. What's the outlook for the week? Is Massa going to fix this with unicorn farts or is something actually going to happen? Wheres the peso going this week?

 

[sneakrnet]

Haven't been following the news this weekend or today. What's the outlook for the week? Is Massa going to fix this with unicorn farts or is something actually going to happen? Wheres the peso going this week?

I transferred enough for a couple months before the bottom fell out. The last time this happened, in Oct. 2020, It continued to go down for months and took more than a year to recover. Who knows what happens this time, but I don't see things going back up well above 300 again for awhile. This is Argentina, though...

 

[hotfuzz]

I transferred enough for a couple months before the bottom fell out. The last time this happened, in Oct. 2020, It continued to go down for months and took more than a year to recover. Who knows what happens this time, but I don't see things going back up well above 300 again for awhile. This is Argentina, though...

I'm not sure what the economic situation was in Argentina back in October 2020 (other than COVID), but there seems to be a lot happening both internally in Argentina and globally with recessions and war. Alberto seems severely weakened, currency reserves are low and IMF deadlines incoming fast.

Massa seems like a positive effect on the market right now, and is looking to get more reserves through US and EU banks. But who knows with Argentina. Wouldn't be surprised for it to rebound shortly.

 

[jblaze5779]

I'm not sure what the economic situation was in Argentina back in October 2020 (other than COVID), but there seems to be a lot happening both internally in Argentina and globally with recessions and war. Alberto seems severely weakened, currency reserves are low and IMF deadlines incoming fast.

Massa seems like a positive effect on the market right now, and is looking to get more reserves through US and EU banks. But who knows with Argentina. Wouldn't be surprised for it to rebound shortly.

At the end of the day, Massa or no Massa, Arg is still Arg and if you loan Arg money and expect to get it back your are a dummy.