Argentina buy blow

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Argentina buy blow

Buenos Aires used to be THE place to exchange USD in Argentina, offering a superior rate compared to anything you could find in other cities, but these days, there are comparable exchanges in just about every popular destination, including Mendoza , El Calafate, and Bariloche. This effectively makes the value of your currency higher and your trip cheaper overall. With this exchange, your money goes 3x farther in Argentina and you are STILL paying the locals the same amount of pesos. The best source for current exchange rates in Argentina is BlueDollar. You should be looking at the BUY price below, since you are buying local currency using foreign currency. Officially, no. But effectively, yes. While the exact legality of these informal exchange houses is a bit of a grey area, they are widely used and broadly accepted here in Argentina— all of these exchanges take place in the open, often inside of legitimate businesses with signs advertising the daily rate. Amazingly, I never had a bad experience doing this I maintain that Argentinians are incredibly trustworthy! Professional, comfortable, secure. For comparison, the US inflation rate was just 3. Gone are the days when the only way to buy pesos at the Blue Dollar rate was in a dark alley— today, hundreds of shops, hotels, travel agencies, and even restaurants will change currency on the side of their usual business. Make sure you check the current rate on BlueDollar. It used to be vital to bring crisp USD bills preferably hundreds for the best exchange rate , but even this has relaxed over the years to the point that you can exchange 20s in most places without any issue. Download the Western Union app and you can send money instantly from your bank to be retrieved at any of the hundreds of WU locations around Argentina. This came into effect in December and has been a total game-changer for travelling in Argentina! Visa and MasterCard both offer this favourable conversion , meaning you can pay for expenses on your card without suffering the official and much less desirable exchange rate. A quick summary of all the tips scattered throughout this article for mastering the Blue Dollar on your next trip to Argentina:. Solo climbing Aconcagua: complete independent expedition guide. In , I finally fulfilled my dream of becoming a full-time nomad! Very helpful and informative article for all trvaellers. I came cross this article becasue I am planning my next trip to Argentina in Nov I first visited Argentina in and made use of the blue dollar to enjoy i. I am happy to know that the blue dollar continues to operate. Thanks for sharing your experience! Only found out today about this blue market and definitly want to make use of it. Maybe I overread the information — but where in Mendoza is the blue market to be found? If you prefer e-mail me! I would really appreciate your advice. Greatings from Germany Chris. Hi Christine, glad you found this article helpful! It definitely needs an update after my recent trips to Argentina, but the information is still largely correct and there is a thriving blue market throughout the country. February 22, What is the Blue Dollar? Is the Blue Dollar legal? Make sure you check the current Blue Dollar informal rate on BlueDollar. Visa and MasterCard now offer a very favourable MEP exchange rate on purchases made with a foreign credit card. Tip generously, support local, and be conscious of where and how you choose to spend your money, as it can have a profound impact on those living through this terrible economic crisis in Argentina! TAGS: blue dollar city escapes city guides travel guides. The Comments. Patrick March 17, Christine Weber February 19, Top Picks in Buenos Aires — brooke around town September 10, You May Also Like. May 9, April 5, May 19,

Is Argentina’s Sale of Puts on Treasury Bonds Less Risky than Dollarization?

Argentina buy blow

Sign up to have blog posts delivered straight to your inbox! Puts are options in which the seller agrees to buy a security at a lower price the strike than when the contract is agreed upon if the buyer so chooses, whereas the buyer risks losing the cost of the option if the strike price does not materialize before the expiration date. However, diluting the debt involves devaluing fixed-term deposits by individuals and businesses. Both measures are still necessary. Although Milei still pledges to carry them out, the plan for executing dollarization is unclear. At the end of the last government, Argentina faced triple-digit annual inflation levels due to the entrenched practice of monetizing the debt incurred to finance profligate spending. Known as liquidity notes Leliqs , these liabilities had very short-term maturities, ranging from 24 hours notes known as Pases to 28 days with a rollover mechanism , and an effective annual interest rate of percent when inflation stood at around percent per annum. Only the commercial banks had access to the Leliq market, so Argentine banks, through mere access to the central bank, had one of the highest Return on Assets ratios in Latin America. But the only way for the central bank to finance the Leliq scheme was by issuing more Leliqs. At one point it was issuing the equivalent of the entire monetary base every five months. Hence the very real possibility of hyperinflation. The new notes also matured every 24 hours but at far lower interest rates than before percent initially. The annual interest rate for fixed-term deposits was also cut to percent from percent previously. Plus, the Treasury issued day bonds yielding percent per annum and medium-term issues 1—3 years indexed to inflation. Today, the benchmark interest rate stands at 40 percent after six cuts still well below inflation even as inflation drops sharply. Since the banks are still the main buyers of Argentine debt, they had to be incentivized to buy the new Treasury issues, with lower rates and longer maturity periods. This is where the puts come in. Hence the concern with any movement that could cause market jitters. This includes, in their view, getting rid of exchange rate controls. On the other hand, the International Monetary Fund, which by no means represents a radically libertarian viewpoint, has urged the government to free the exchange rate. But any exogenous shock that hits the bond market in the next three years could unleash a deluge of newly created pesos into the banking system, thus undoing all efforts to ease inflation. The dilution strategy has thus left the Argentine state dangerously exposed to unforeseen events, as is the general case with put sellers. Contrariwise, the buyer of out-of-market puts runs the high risk of a small loss in exchange for the small probability of exponential gains. Hence his insistence on a series of pre-conditions prior to dollarization and prior even to removing the cepo. Nonetheless, if the government sought to dollarize now, lifting exchange rate controls would not be indispensable. In , Ecuador dollarized simply by overshooting the lower bounds of the black-market exchange rate. Undershooting would benefit depositors, who generally have no access to the overvalued, official exchange rate. In terms of dollarization, undershooting also would be counterproductive; the government would create a sudden demand for pesos, whereas the point of dollarization is to no longer have a local currency. The same applies to dollarizing at the blue dollar rate. Slightly overshooting that rate would bolster the move away from a weak currency that is artificially strengthened through government fiat. By overshooting, the government would benefit one final time at the expense of current peso holders. The government would further send a clear signal that it no longer denies the reality of market forces in currency exchange markets. Nor are there fiscal preconditions to dollarization. Consider also that the latest round of dilution, with interest rates lowered to 40 percent, has meant that the carry trade —the practice of borrowing at a low interest rate in one currency to invest at a high rate in another—is far less attractive in light of the risk involved. After a brief respite, the currency market has once again become skittish. To their credit, Milei and Caputo have set Argentina, a chronic defaulter on its debt, on the correct fiscal path. But even their most ardent supporters should recognize the high probability of an eventual return to fiscal recklessness under a future government. This is why delaying dollarization any further is the least prudent option available. Live Now. Cato at Liberty. Blog Home. Email Signup Sign up to have blog posts delivered straight to your inbox! Banking and Finance. Constitutional Law. Criminal Justice. Defense and Foreign Policy. Free Speech and Civil Liberties. Global Freedom. Government and Politics. Health Care. Monetary Policy. Poverty and Social Welfare. Public Opinion. Tax and Budget Policy. Technology and Privacy. Trade Policy. July 9, PM. By Daniel Raisbeck. Generated with ElevenLabs AI technology. Related Tags.

Argentina buy blow