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

[LongIslander]

A bummer watching the blue dollar start to go down again.

 

[GraceHill]

A bummer watching the blue dollar start to go down again.

I asked my local friends there that I met why this is happening and they said that many locals are just tapped out and selling their US dollars that they had saved to pay bills, etc. I am not sure if this is true or not but a few mentioned they are having to liquidate their savings in dollars and buy pesos to pay their bills which have all gone up now.

They said transportation has skyrocketed, healthcare, and also their monthly expenses and food too. My heart goes out to them.

 

[MikeYoung]

Anyone know why the blue dollar is going down?

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

 

[Larry]

Anyone know why the blue dollar is going down?

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

This is the explanation in today's La Nacion. Prices keep going higher.

https://web.archive.org/web/20240215205309/https://www.lanacion.com.ar/economia/dolar/dolar-la-razon-por-la-cual-el-blue-toca-el-valor-mas-bajo-en-un-mes-y-medio-nid15022024/

 

[James Bond]

There are simply more people selling USD than buying them.

En enero hubo más gente que vendió dólares de la que los compró

El dato está relacionado con las operaciones por la restringida plaza oficial y fue revelado hoy por el BCRA

web.archive.org

 

[Larry]

There are simply more people selling USD than buying them.

En enero hubo más gente que vendió dólares de la que los compró

El dato está relacionado con las operaciones por la restringida plaza oficial y fue revelado hoy por el BCRA

web.archive.org

Yes many locals are dumping US dollars and buying pesos. Today the Blue dollar rate is less than the MEP rate for the first time that I have seen.

I went to a cueva today and they didn't have any pesos. Then I went to another and they were also out of pesos as they said everyone has been buying pesos. Today was 1,000 and it will probably go below 1,000. Getting more expensive by the day for those of us that have USD.

 

[Vince]

I also went to an exchange house today and they were also out of pesos today. But that happens once in a while.

 

[Vero]

Blue dollar went down today again. Broke 1,000 pesos.

 

[Wally]

Blue dollar went down today again. Broke 1,000 pesos.

I saw that too. It's back up slightly but interesting to see MEP is higher than Blue rate now.

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

 

[Johnny]

I was there in November 2023. You have to keep things in perspective. It was 1,000 pesos to $1USD when I was there and it looks like it's still that now. That seems like a great exchange rate to me. I found Buenos Aires extremely affordable compared to the USA and inflation looks like it is slowing down.

 

[Surfer]

The exchange rate looks to be the same as in December. Looks like it has been jumping around. I read this article below and the long and short of it seems to be that no one knows!

https://tn.com.ar/economia/2024/03/06/el-dolar-blue-perforo-los-1000-las-razones-de-la-baja-y-que-puede-pasar-en-los-proximos-meses/

 

[Scottishgaucho]

. I found Buenos Aires extremely affordable compared to the USA and inflation looks like it is slowing down.

So the figures keep telling us. I can't say I've noticed.

 

[GraceH]

So the figures keep telling us. I can't say I've noticed.

I agree! Feels more expensive everyday to me. This trend I am told could last a while.

 

[Johnny]

So the figures keep telling us. I can't say I've noticed.

I'm sorry you're having to deal with that. To be fair I haven't been back there since November and I am only going by what I am reading online which may be far from reality. I hope all of you that live there have things go well for the next few months and beyond.

 

[Scottishgaucho]

I'm sorry you're having to deal with that. To be fair I haven't been back there since November and I am only going by what I am reading online which may be far from reality. I hope all of you that live there have things go well for the next few months and beyond.

Fortunately we're okay. It's the less well off I feel sorry for. I can't imagine how it is for them. Hopefully it'll all work out for the better for everyone in the end. I'm sure it will.

 

[earlyretirement]

Fortunately we're okay. It's the less well off I feel sorry for. I can't imagine how it is for them. Hopefully it'll all work out for the better for everyone in the end. I'm sure it will.

I totally agree with you @Scottishgaucho. Most of us expats will land on our feets just fine. I do feel sorry for the locals. This is extremely painful for them and the next few months will also be painful. Fixing Argentina definitely spelled a period of pain but hopefully Argentina is in a much better place by this time next year.

This was a great analysis of what is going on with the blue dollar. Spot on target as usual.

The Return of the Jaguar

Reasons for the Argentine peso gaining against the dollar and short-term outlook

www.bowtiedmara.io

 

[Larry]

So the figures keep telling us. I can't say I've noticed.

Agreed! Where is that one guy who kept insisting that there was no inflation in USD terms?

I totally agree with you @Scottishgaucho. Most of us expats will land on our feets just fine. I do feel sorry for the locals. This is extremely painful for them and the next few months will also be painful. Fixing Argentina definitely spelled a period of pain but hopefully Argentina is in a much better place by this time next year.

This was a great analysis of what is going on with the blue dollar. Spot on target as usual.

The Return of the Jaguar

Reasons for the Argentine peso gaining against the dollar and short-term outlook

www.bowtiedmara.io

I read that this morning.

For people earning in foreign currency, local prices have roughly 2x’d in dollar terms since December last year.

 

[Jeb Spencer]

Just painful!

Blue and MEP dollars fall below AR$1,000 - Buenos Aires Herald

The gap between the parallel and official exchange rates has narrowed, making Argentina more expensive in dollar terms

buenosairesherald.com

 

[Avocado]

Just painful!

Blue and MEP dollars fall below AR$1,000 - Buenos Aires Herald

The gap between the parallel and official exchange rates has narrowed, making Argentina more expensive in dollar terms

buenosairesherald.com

At least all you foreigners earn in USD or other money. Locals making pesos are suffering most! You all can't complain!

 

[Betsy Ross]

I have learned something in coming to Buenos Aires for the past few decades. Never bet against the US dollar vs. the Argentine peso. The peso might have bouts of strength, but the USD always is better to keep vs. pesos.