Why Is Xoom So Far Behind The Blue Dollar?

[jamila]

We all know that Xoom does't give as good of a rate as you can get from cash.. but it seems to me that it Xoom is lagging further and further behind. While the blue dollar has been jumping every day, Xoom's rate has stayed at 8.35 for a while. Any thoughts on why this is?

 

[ajoknoblauch]

We all know that Xoom does't give as good of a rate as you can get from cash.. but it seems to me that it Xoom is lagging further and further behind. While the blue dollar has been jumping every day, Xoom's rate has stayed at 8.35 for a while. Any thoughts on why this is?

I would guess that they are cushioning themselves against volatility in the exchange rate.

 

[Joe]

But let's put it this way, Xoom operates at the pleasure of Cristina. It is only through Cristina's good graces that you are allowed the illegal benefits of Xoom. And it's not in Xoom's interest to abuse their position as Dolar Traficantes.

 

[jamila]

The Web Team has already put you Perma Tourists on notice about your incessant dollar profiteering posts.

But let's put it this way, Xoom operates at the pleasure of Cristina. It is only through Cristina's good graces that you are allowed the illegal benefits of Xoom. And it's not in Xoom's interest to abuse their position as Dolar Traficantes.

dollar profiteering?

 

[jamila]

I would guess that they are cushioning themselves against volatility in the exchange rate.

thanks ... I was thinking the same... that maybe they were expecting a sharp dip

 

[Rich One]

Its perhaps a Joe curse on Xoom a voodoo rite to screw us up . A Public enemy numero Uno.

 

[EdRooney]

Holy Cannolli I just logged in to axe pretty much the same question.

I was thinking since there are various rates ranging from Dolar Sojero to Dolar Blue to the ol' Contado con Liqui (QDEP), that maybe Xoom doesnt really follow the blue rate, but rather some other index, and I was hoping some of my fellow dollar profiteers might know which index to follow...

 

[Inferno.]

Well, the blue dolar is not legal, so Xoom can't function as a legal business using it on a daily basis. I believe they are bringing (and taking out) money using the stock market which is legal (CCL and Reverse CCL). The rate today is around ~9,50. Now, Xoom is offering 8,35.. but you need to take into account that if they are indeed using this method, they need to pay for commisions for the purchase/selling of stocks in the US broker and the Arg Broker. That has a cost.. also, the prices are varying everyday, so they may be putting a few cents here to avoid a variation that will make them lose money. Perhaps they are also paying people to handle this which may be impacting in the cost you are going to get in the end.

At least I believe this is the reason.

 

[Rich One]

Kiss Xoom goodbye

 

[Ceviche]

@Rich one, u seem in very high spirits today! Is it cos the blue rate , hit a "10"!