Western Union money transfer

SinPulgas said:
Maybe WU will update their price today, but it's almost 7pm.

As you Brits on here (and everywhere else) say, Western Union is taking the piss.

I got 1200 this afternoon at the cueva I usually use.
Click to expand...
Fast to lower, slow to raise. I have a feeling tomorrow they'll raise to Tuesday's quote, and Friday today's.

It's not nothing either, CCL closed at $1,273, over 100 peso difference.

MEP closed at $1,227, so we should expect near $1,140 for Visa at midnight.
 
SinPulgas said:
Maybe WU will update their price today, but it's almost 7pm.

As you Brits on here (and everywhere else) say, Western Union is taking the piss.

I got 1200 this afternoon at the cueva I usually use.
Click to expand...
(psst...I'm not a Brit) and that's a good rate you got today.
 
Quilombo said:
Fast to lower, slow to raise. I have a feeling tomorrow they'll raise to Tuesday's quote, and Friday today's.

It's not nothing either, CCL closed at $1,273, over 100 peso difference.

MEP closed at $1,227, so we should expect near $1,140 for Visa at midnight.
Click to expand...
Nobody here ever talks about this, but there are controls on the MEP and CCL -- which have changed often in the past few years -- regarding a holding time (known as "parking") for buying securities in pesos before they can be sold in dollars. I read that in Dec. 2023, the holding time was made to be one day for everything.

So if you want to get dollars via MEP or CCL, you cannot really buy and sell simultaneously. You buy on one day, and sell the next day (or later).

If this is true (and I believe it is),
  • CCL and MEP are really just reference prices (but in most cases very close approximations to what they would be if you could actually buy and sell simultaneously).
  • It could explain (or partially explain) Western Union's (and other money transfer companies') delays in updating prices. I don't think Western Union has any special exemption from this rule.
Anybody have any actual experience doing MEP or CCL trading in the last couple years? I did a couple MEP trades at one point, in the last months of Macri, but there wasn't any parking rule at the time.

Here's some recent information. I couldn't find the document that I had read before.
Dólar MEP: eliminan restricciones a los dólares financieros
 
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