Xoom future?

[El chabon]

I havent been following it really but the way I understand it you send dollars in the US to a dude in the USA and he gives you peso's in Argentina.

This way the dollars are not really leaving Argentina but they are not entering neither.

If they force to close Xoom down they will force people with dollars abroad to bring them into Argentina, now will most of them enter in the blue market but if the supply of dollars is high enough the price of the blue will go down

Any thoughts on this?

 

[solerboy]

I havent been following it really but the way I understand it you send dollars in the US to a dude in the USA and he gives you peso's in Argentina.

This way the dollars are not really leaving Argentina but they are not entering neither.

If they force to close Xoom down they will force people with dollars abroad to bring them into Argentina, now will most of them enter in the blue market but if the supply of dollars is high enough the price of the blue will go down

Any thoughts on this?

I dont think the volume if Zoom trade is enough to effect the market one way or another. If it was having any significant effect it would have been closed down before now.

 

[El chabon]

AFIP is also going after individual arbolitos in Florida and there impact can't be that high, AFIP wants to control the whole market.

XOOM is not taking dollars out of the market but they have an effect on the dollars entering the market, it should make sense if they go after Xoom

 

[vr236]

They have not yet but if you use Xoom to enter more than 5000 pesos you get a call from their partner MoreArgentina requesting ID and for you to explain where the money is coming from. I had a long chat with the girl from MoreArgentina who was very nice. She said all information is confidential like Xoom's is but I asked can you promise me AFIP won't surprise you one day and check all your records, and she said NO. I even called Citizen Services at the US Embassy and they said better to not give them information if I can avoid it although they already have my local bank info.

 

[vr236]

Also check this out now she is giving international orders, in summary to all those who trade forex you must trade the peso at 4.6 As per the CNV. Comision Nacional de Valores.
http://www.ambito.com/diario/noticia.asp?id=649198