Banking What is going on with the Blue dollar? Why is it going down?

[Bob]

So, if the government actually sticks to its promise of not faking a low official rate, there shouldn't be any gap, right? What's your take? Do you think this government is gonna keep it real, or are we in for another round of trying to control the official rate like the ones before?

If everyone can just purchase up as many dollars as they want with the pesos they already got, it's all good. But when a big chunk of Porteños has to resort to the black market for foreign currency, that's when a gap shows up. And if the government keeps trying to patch up that gap over and over again, it's a mess. 'Cause the blue dollar isn't the real value of the peso; it's just the real value for the folks dealing with the restricted currency.

I just hit up the supermarket, and prices basically doubled in a week. Now they're almost on par with USA prices! Veggies and fruits are even crazier expensive. Doesn't really faze me too too much, but I can't picture the average Argentine keeping up with all this.

I bet tons of expats are lowkey wishing for the old government! I totally love this place, but if prices keep creeping up to match US prices and it looks like it's gonna stay that way for ages, I might just chill in the States.

 

[Avocado]

Milei's grandiose lie of dollarization will never happen. Some smart people said this would never happen. You were right! The blue dollar peso rate should shoot up in Q1 2024. You're going to see. mass protesting and people blocking the streets as usual during protests. Milei will probably end up resigning. Peronism will once again be the law of the land probably for the next 20 years.

 

[Larry]

Prices here are NOT the same as the United States. Stop exaggerating. Thanks for being so kind and worried about us locals! NOT. All you expats care about is cheap steaks. As you mentioned, "doesn't really affect me".

We will see soon why Massa should have been elected as President. I feel like things would be better with him.

@Che Vos

Prices are sky high compared to a few weeks ago before Milei got elected.

Look online at some grocery store websites and you will see prices are crazy. A can of coke is almost $2 bucks. Milk is almost same price as USA at over $3 bucks. Fruits are all expensive as well. I bought some strawberries and they were the same as the USA. I blame all of this on Milei!

 

[Jeep]

Milei's grandiose lie of dollarization will never happen. Some smart people said this would never happen. You were right! The blue dollar peso rate should shoot up in Q1 2024. You're going to see. mass protesting and people blocking the streets as usual during protests. Milei will probably end up resigning. Peronism will once again be the law of the land probably for the next 20 years.

I wanted Massa to win as well but I do NOT want to see this happening in Buenos Aires. I don't miss the piqueteros and I wish to avoid them at all costs. A few years ago I missed my flight to EZE as they were blocking the highway.

 

[Avocado]

I wanted Massa to win as well but I do NOT want to see this happening in Buenos Aires. I don't miss the piqueteros and I wish to avoid them at all costs. A few years ago I missed my flight to EZE as they were blocking the highway.

Unfortunately expect bad things to happen with Milei as President. His staff is all Macri's clowns. Morons! But look on the bright side..... they will be the reason for Peronism to come back even stronger than ever! We are just a few days in and I think we can say the Milei experiment is a big disaster!

 

[Vero]

Milei's administration will not let the blue dollar divide get as wide as it did as in previous periods making Argentina very expensive. I went to Uruguay the other day for the first time in a long time and was shocked how expensive it is!

 

[Wally]

Milei's grandiose lie of dollarization will never happen. Some smart people said this would never happen. You were right! The blue dollar peso rate should shoot up in Q1 2024. You're going to see. mass protesting and people blocking the streets as usual during protests. Milei will probably end up resigning. Peronism will once again be the law of the land probably for the next 20 years.

But what do you think would be going on right now if Massa were President and won? Do you honestly expect anything different than what you are seeing now? If anything the inflation would be worse than it is. I'm not honestly sure what you Massa supporters expect to happen after a few DAYS of being sworn into office. It's too funny all your doom and gloom. Take whatever misery you have right now and X 3 if Massa won.

 

[earlyretirement]

I always said that before the holidays that after the holidays we would head back up with the blue dollar. I believe we should see a greater spread after January 1 and should continue to increase. I exchanged some money yesterday at Serrano 1563 and I was surprised they are now open until 9 PM. Got 1060 pesos to $1 US. They only had 1,000 peso bills.

I went to meet a friend for dinner over at Cucina Paridiso on Armenia. @StatusNomadicus was your girlfriend walking your dog over near Plaza Serrano? I saw a big dog like your photo and I was going to stop and ask her but I was rushing to go meet my friend.

 

[earlyretirement]

This is pretty much what I said would happen after the holidays were over. I believe the gap will increase between white and blue again.

UPDATE 1-Argentine black market peso hits record low as gap to official FX tops 50%

Argentina's black market peso exchange rate weakened a sharp 5.6% on Wednesday to a record low of 1,250 per dollar, with its gap to the official rate widening above 50%, underscoring renewed pressure on the embattled currency. The South American country is battling inflation over 200%, which...

finance.yahoo.com

 

[GlasgowJohn]

@Che Vos

Prices are sky high compared to a few weeks ago before Milei got elected.

Look online at some grocery store websites and you will see prices are crazy. A can of coke is almost $2 bucks. Milk is almost same price as USA at over $3 bucks. Fruits are all expensive as well. I bought some strawberries and they were the same as the USA. I blame all of this on Milei!

Where are you buying milk at 3000 pesos? . its only 700 pesos in Dia.

 

[StatusNomadicus]

its only 700 pesos in Dia.

Larry struggles with reality sometimes. i can confirm that 1L of milk this week is: 500 Pesos for long-life carton, 700-1000 Pesos for long-life with a screw cap, and 750-950 Pesos for Leche Fresca in a bag (expiration 3 weeks from now). Jumbo, Carrefour, Dia, Coto, etc. all have cheap milk if you look for the deals (i go for the cheapest 3%/Whole type, Fresca if i can find it in the fridge section although the bags are annoying it tastes way better...not re-constituted powder stuff)

but regardless, even 650 Pesos per liter x 3.78 L/gallon = 2457 Pesos, divided by 1099 ARS/Dollar means a gallon of milk is $2.24 USD with a credit card. you can find it cheaper (sale items or discount days or buy 3x2 deals). milk when i was in South Dakota was $4.65 USD, and in Tampa FL it was $4 and up. soooo, Larry is full of sh*t as always. milk is just below half the cost of where i was in the USA just a few weeks ago.

 

[StatusNomadicus]

I bet tons of expats are lowkey wishing for the old government! I totally love this place, but if prices keep creeping up to match US prices and it looks like it's gonna stay that way for ages, I might just chill in the States.

you're being lied to, if you haven't seen my other posts, and @GlasgowJohn's info. prices ar every much still 25-50% of the USA depending on where you're from and how fancy you are. receipt from shopping today at a convenience store (Carrefour Express) across the street, not trying to get discounts or anything:

1. Milk one-liter bag (fresh 3%/whole) Carrefour Classic brand 599 Pesos = 52 cents USD
2. Beer one-liter bottle (Quilmes IPA 5%) 1,474.75 Pesos = $1.27 USD

@Larry is curiously quiet about milk prices, suddenly! guess the 3,000-Peso cost was Fake News?

The blue dollar peso rate should shoot up in Q1 2024. You're going to see. mass protesting and people blocking the streets as usual during protests. Milei will probably end up resigning. Peronism will once again be the law of the land probably for the next 20 years.

i truly hate everything you write, and it's amazing that civilization is so amazing that a moron like you can exist and thrive while being so incredibly moronic 24/7. like i said in every other response to you, you make everyone dumber every time you post.

Prices are sky high compared to a few weeks ago before Milei got elected.

Look online at some grocery store websites and you will see prices are crazy. A can of coke is almost $2 bucks. Milk is almost same price as USA at over $3 bucks. Fruits are all expensive as well. I bought some strawberries and they were the same as the USA. I blame all of this on Milei!

this must be a parody account. i really can't believe you're a real person. show us one receipt, buddy! bet you won't, mentiroso

piqueteros and I wish to avoid them at all costs

the State and its parasites, doing parasitical things

Unfortunately expect bad things to happen with Milei as President. His staff is all Macri's clowns. Morons! But look on the bright side..... they will be the reason for Peronism to come back even stronger than ever! We are just a few days in and I think we can say the Milei experiment is a big disaster!

...based on you pulling this out of your ass, and your pure tribalism, and zero actual basis in reality. if Peronism ever comes back, maybe we can get the abject poverty levels past 50%, maybe to 99% someday! wooooo! at least your 'good' team would 'win' then, right?

Milei's administration will not let the blue dollar divide get as wide as it did as in previous periods making Argentina very expensive. I went to Uruguay the other day for the first time in a long time and was shocked how expensive it is!

well, hopefully they just continue to de-regulate and let the market do its thing, without being manipulated. i keep hearing that Uruguay is sooooo expensive compared to the rest of the continent, so i'm not that interested in going there when i want to check out all the Argentine provinces as well as Paraguay, first!

I'm not honestly sure what you Massa supporters expect to happen after a few DAYS of being sworn into office. It's too funny all your doom and gloom. Take whatever misery you have right now and X 3 if Massa won.

you're so intelligent when it comes to political nuance, but why the lies about the prices of food? are you even in Buenos Aires right now?

@StatusNomadicus was your girlfriend walking your dog over near Plaza Serrano? I saw a big dog like your photo and I was going to stop and ask her but I was rushing to go meet my friend.

i don't think so; i haven't been to that area for like 4 weeks. regardless, it's always a priority unless you're in a hurry, to meet as many good dogs as possible

and @GlasgowJohn i can confirm that whole milk 1L at Carrefour is 599 Pesos today 20Jan2024, if you don't mind the fresh, bagged stuff! i drink a lot of milk because i'm a cafe con leche fan, and i try to drink green tea every day with a little bit of milk (no sugar). so maybe if you compare prices from Dia, you will see that Carrefour has better deals on their generic brand. i'll check out Coto tomorrow.

 

[Vince]

you're being lied to, if you haven't seen my other posts, and @GlasgowJohn's info. prices ar every much still 25-50% of the USA depending on where you're from and how fancy you are. receipt from shopping today at a convenience store (Carrefour Express) across the street, not trying to get discounts or anything:

1. Milk one-liter bag (fresh 3%/whole) Carrefour Classic brand 599 Pesos = 52 cents USD
2. Beer one-liter bottle (Quilmes IPA 5%) 1,474.75 Pesos = $1.27 USD

@Larry is curiously quiet about milk prices, suddenly! guess the 3,000-Peso cost was Fake News?


i truly hate everything you write, and it's amazing that civilization is so amazing that a moron like you can exist and thrive while being so incredibly moronic 24/7. like i said in every other response to you, you make everyone dumber every time you post.


this must be a parody account. i really can't believe you're a real person. show us one receipt, buddy! bet you won't, mentiroso


the State and its parasites, doing parasitical things


...based on you pulling this out of your ass, and your pure tribalism, and zero actual basis in reality. if Peronism ever comes back, maybe we can get the abject poverty levels past 50%, maybe to 99% someday! wooooo! at least your 'good' team would 'win' then, right?


well, hopefully they just continue to de-regulate and let the market do its thing, without being manipulated. i keep hearing that Uruguay is sooooo expensive compared to the rest of the continent, so i'm not that interested in going there when i want to check out all the Argentine provinces as well as Paraguay, first!


you're so intelligent when it comes to political nuance, but why the lies about the prices of food? are you even in Buenos Aires right now?


i don't think so; i haven't been to that area for like 4 weeks. regardless, it's always a priority unless you're in a hurry, to meet as many good dogs as possible

and @GlasgowJohn i can confirm that whole milk 1L at Carrefour is 599 Pesos today 20Jan2024, if you don't mind the fresh, bagged stuff! i drink a lot of milk because i'm a cafe con leche fan, and i try to drink green tea every day with a little bit of milk (no sugar). so maybe if you compare prices from Dia, you will see that Carrefour has better deals on their generic brand. i'll check out Coto tomorrow.

I have been in the USA for the past few weeks. No way things are as expensive as the USA as Larry says but definitely there is inflation there. Local salaries are very low. I'm not necessarily speaking about expats but for locals prices are expensive and inflation is real. My maid also asked for a raise. Unless you have income or savings in USD it is painful to see price increases.

My monthly condo fees just went up 20%. Utilities have been going up. Healthcare premium have exploded upwards. Going to be painful for the next few months. Definitely can't compare prices with the USA but you incomes are no where near what they are anywhere else.

 

[Che Vos]

Where are you buying milk at 3000 pesos? . its only 700 pesos in Dia.

Yes the milk not so expensive. There inflation but the prices not like in USA. We all make pesos and it very difficult. All the expenses go up. I not saying that there wasn't inflation in 2023 but not like after Milei win. The medical bills not go up so much like after Milei win.

 

[Scottishgaucho]

Prices have indeed gone up. Hardly surprising as they've never gone down during the 16 years I've lived here. Truth of the matter is many years of masking the woeful state of Argentina's economy is to blame. Massa the K puppet especially.
If you don't like what Milei has been forced to do then why not just go back from whence you came?

 

[Avocado]

Prices have indeed gone up. Hardly surprising as they've never gone down during the 16 years I've lived here. Truth of the matter is many years of masking the woeful state of Argentina's economy is to blame. Massa the K puppet especially.
If you don't like what Milei has been forced to do then why not just go back from whence you came?

Some of us don't have anywhere back to go. This is OUR country. Born and raised here.

 

[Scottishgaucho]

Some of us don't have anywhere back to go. This is OUR country. Born and raised here.

Sorry...I thought this forum was for foreigners only.

 

[illegal alien]

Blue dollar hit an all time record today of 1,250 to $1 US.

Dólar hoy, dólar blue hoy: a cuánto cotiza este martes 23 de enero

La divisa estadounidense se negocia en el mercado informal a $1250 para la venta, su récord nominal histórico; en tanto, el oficial se ubica en los $869,92

www.lanacion.com.ar

 

[MikeRoss]

I got 1,200 pesos to $1 US dollar today. Looks like the rate went down today.

 

[StatusNomadicus]

I not saying that there wasn't inflation in 2023 but not like after Milei win. The medical bills not go up so much like after Milei win.

and this is why no one cares you what and Avocado think, because you're stupid enough to imply that 1 minute after Milei wins, something different is occurring, forgetting about all of 2023 where the government spent like crazy and printed all the money, and then blame higher prices on Milei.

Some of us don't have anywhere back to go. This is OUR country. Born and raised here.

YOUR country where you secretly hope everything collapses, so you can cheer that the 'bad guy' lost and your tribe/team won. no one cares what you say; you're a local on an Expat forum, who posts nothing but negativity and unfounded claims about the new presidency.

I thought this forum was for foreigners only.

@earlyretirement has been explicit about wanting it to be an All-BsAs forum, and even thinks it might be renamed LibreBA or something. but yes, i also would assume that this would primarily serve as an Expats in BA forum, just like the old one. why a small number of local Peronists come here to whine about communism dying, and claim Expats are evil people, is very strange to me. this is why i try to reply to Avocado's lies and CheVos's idiocy anytime they claim something, because 99% of the time it is a lie

https://www.cotodigital3.com.ar/sitios/cdigi/producto/-bife-ancho-x-kg/_/A-00041385-00041385-200

4,790 Pesos/kg for Bife Ancho still at Coto! super great deal, and i'm still getting 1-liter beers swapped for 1400-1500 Pesos, FYI.