Lower savings with the "blue" exchange rate?
Nov 19th, 2013, 02:34 AM
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Nov 19th, 2013, 05:48 AM
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Nov 20th, 2013, 03:35 AM
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In the local English newspaper:
http://www.buenosairesherald.com/art...ges-on-the-way
However, usually well-informed sources say the changes in the foreign exchange system will NOT be made the way I expected:
http://www.lanacion.com.ar/1639927-t...ento-cambiario
Have a great time in our country.
http://www.buenosairesherald.com/art...ges-on-the-way
However, usually well-informed sources say the changes in the foreign exchange system will NOT be made the way I expected:
http://www.lanacion.com.ar/1639927-t...ento-cambiario
Have a great time in our country.
Nov 20th, 2013, 07:41 AM
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I would love to be a fly on the wall when this guy goes to the IMF or World Bank to explain his cunning plan for multiple exchange rates. I think he needs to go back to school for some lessons in basic economics. Lesson one - you can't buck the market. I am backing Warren Buffet for president of Argentina..
Nov 20th, 2013, 08:27 AM
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Well, I have heard the IMF does not allow its members to have multiple exchange rates. So, maybe they'll try to find some "clever" way to get around THAT.
I'm backing top poster crellston for president of our central bank. LOL!!!!
If he gets the job, it will be time to buy back all the pesos I can find. More LOL!!!
Have a great time in our country.
I'm backing top poster crellston for president of our central bank. LOL!!!!
If he gets the job, it will be time to buy back all the pesos I can find. More LOL!!!
Have a great time in our country.
Dec 3rd, 2013, 06:57 AM
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In my post of Nov. 20 above, I said "usually well-informed sources say the changes in the foreign exchange system will NOT be made the way I expected".
Today, instead of instituting a "tourist dollar" (which is what I expected), our IRS made it more expensive for us locals to travel abroad, by increasing from 20 to 35% a sort of "tax" they charge us on international transportation paid via any means of payment, as well as on expenses abroad charged to a CC.
This means, for all practical purposes, Argentines now pay a "tourist" dollar of about 8,34 pesos per dollar. The silly reason for doing this is that they can still say "we didn't devalue our currency".
The GOOD part for tourists coming to our country, is that they will still be able to obtain significant savings by paying their expenses in cash pesos, obtained by selling dollars in the "blue" market.
http://www.buenosairesherald.com/art...harged-with-35
Have a great time in our country.
Today, instead of instituting a "tourist dollar" (which is what I expected), our IRS made it more expensive for us locals to travel abroad, by increasing from 20 to 35% a sort of "tax" they charge us on international transportation paid via any means of payment, as well as on expenses abroad charged to a CC.
This means, for all practical purposes, Argentines now pay a "tourist" dollar of about 8,34 pesos per dollar. The silly reason for doing this is that they can still say "we didn't devalue our currency".
The GOOD part for tourists coming to our country, is that they will still be able to obtain significant savings by paying their expenses in cash pesos, obtained by selling dollars in the "blue" market.
http://www.buenosairesherald.com/art...harged-with-35
Have a great time in our country.
Dec 3rd, 2013, 08:51 AM
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The way the "official" and "blue" exchange rates stand today, tourists can get a little more than 30% off anything which can be paid with a credit card, by paying with cash pesos obtained by selling their dollars in the "blue" market.
Just a few days ago, you could get more than 40% off.
The reason for this change is that the official dollar has moved somewhat higher, while the "blue" rate has moved lower, at least momentarily, closing the "brecha" or "gap" between the two rates.
Have a great time in our country.
Just a few days ago, you could get more than 40% off.
The reason for this change is that the official dollar has moved somewhat higher, while the "blue" rate has moved lower, at least momentarily, closing the "brecha" or "gap" between the two rates.
Have a great time in our country.
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