[Hypno]

Two years ago, a dollar bought not quite 10 pesos.

A year ago a dollar bought 15 pesos.

Today a dollar buys more than 22 pesos.

Anyone on the ground in Argentina? Is this a good time to travel?

[jcardial]

(05-11-2018 10:46 AM)Hypno Wrote:  

Two years ago, a dollar bought not quite 10 pesos.

A year ago a dollar bought 15 pesos.

Today a dollar buys more than 22 pesos.

Anyone on the ground in Argentina? Is this a good time to travel?

It's actually 23.2 pesos: 1 dollar. Just look at numbeo to get an idea, however apartments will cost a lot more in Buenos Aires, for instance, because there's a big premium to be near the best nightlife and restaurants in Palermo/Recoleta and to rent short term rather than the standard two year lease (requiring local guarantor who owns property). Ultimately you don't enjoy much, if any, gains in buying power because local peso prices have increased significantly in the last year as well.

[Plexiglass]

(05-11-2018 12:58 PM)jcardial Wrote:  

Ultimately you don't enjoy much, if any, gains in buying power because local peso prices have increased significantly in the last year as well.

Inflation is a bitch.
in both 2016 and 2017 Argentina had inflations rates at around 30%

[DigitalNomad]

When I went like 10 years ago it was less than 4 to 1 I believe.. things are more expensive now at 23 to 1.

[joost]

I was there in December. Prices are way higher than 5 years ago. Not as cheap as you expect. But the infrastructure of the city is better.

Thin and beautiful girls everywhere. Still worth it IMHO.

[ProGambler]

Everything will be more expensive and they stopped subsidising beef. Won't be as good as you expect but always worth going to places when their currency is crashing yes.

[Mekorig]

(05-11-2018 10:46 AM)Hypno Wrote:  

Two years ago, a dollar bought not quite 10 pesos.

A year ago a dollar bought 15 pesos.

Today a dollar buys more than 22 pesos.

Anyone on the ground in Argentina? Is this a good time to travel?

Local here. Its a good time as any other. Its not the 2001 crisis. Inflation keeps the prices, so you will not get everything super cheap because you have dollars. Infraestructure is good (and improving). Buenos Aires is good, but i recomend you to visit other cities like Cordoba, Santa Fe, Rosario, Mendoza, etc.

[Hypno]

US dollar now buying close to 37 Argentine pesos.

Any reports from those on the ground?

[Rossi]

Interest rate went to 60%. Dollar almost doubled up in a year.

[Giacomo Casanova]

I am wondering which country will be the first to adopt bitcoin as national currency...
Btw Argentina sounds like an interesting destination to escape the European winter.

[BaatumMania]

(09-01-2018 01:24 PM)Giacomo Casanova Wrote:  

I am wondering which country will be the first to adopt bitcoin as national currency...
Btw Argentina sounds like an interesting destination to escape the European winter.

https://qz.com/260980/meet-the-countries...-currency/

Probably one of these ones.

https://en.wikipedia.org/wiki/Petro_(cryptocurrency)

Venezuela's Petro is allegedly out (or will be soon) and allegedly they used NEM or a derivative of NEM for it. Now I don't understand how this currency works. Do I show up to some government office with some Petro Crypto and say "gimmie a barrel of oil"?

but sure enough Maduro did mention the Petro cryptocurrency like 1 or 2 weeks ago when he just did some currency reform. It's a weird thing nobody knows much about.

[Koba]

(09-01-2018 01:24 PM)Giacomo Casanova Wrote:  

I am wondering which country will be the first to adopt bitcoin as national currency...

None. Even the most fucked-up countries still have the option to peg their currency to USD, EUR, GBP or any other solid currency that has way less volatility than Bitcoin. This has pros and cons of course, but in terms of minimizing fluctuations it's much more efficient than cryptos.

[diego69]

Not all the time devaluation of local currency means cheaper travel cost for USD/EUR holders as of inflation which in many cases tis he same as the devaluation means same cost for the traveler, not to mention that in such unstable countries they like to charge by USD/EUR - especially for rent. It would be good if someone on the ground could advise.

[rishboy77]

Is anybody in Argentine right now ?

Any recommendations of where to stay in BA and nightlife options ?

How is the safety ?

[Sdsven]

I've been to BA 4 times, but 2017 was my last time. Great city! I feel very safe. My favorite neighborhood to go out in. It's during the day time and until 5am is Palermo SOHO. As far as a neighborhood, Palermo is large and broken into mini neighborhoods. Hollywood and SOHO are the most popular. I just liked the vibe of SOHO better, and could wonder those streets for hours. Specifically stay near a small little park (as far as parks go, it kinda sucks, but is the epicenter) park name is= plazoleta julio cortazar.

Now if you're there during good weather on the weekend, I love their huge park for the city kinda near their small airport. The rose garden area is really legit. (That's my personality though, I can hang out in a park for hours, think Central Park in NYC, or English garden in Munich, or Hamburg or Madrid's park or Sevilla) And all around that huge park in BA is pretty solid, not just the rose garden.

[Cr33pin]

delete

[Going strong]

This time, inflation has not had time, and won't have time, to catch up with the devaluation of the peso.

So it means that for maybe a couple of months, you'll get much more purchasing power with your USD or Euro, in Buenos Aires. Until all prices are adjusted through inflation.

But the situation is such that other possibilities or risks are now to take into account. I mean, the good, Macri-led Conservative government could be toppled because of a huge peso crisis, and the socialist corrupt Cristina could even manage to get back into power, just before she's sent to jail (she'll be on trial for embezzlement and theft of public funds, starting February the 26th).

I personally think that Macri will survive this crisis and that Cristina will end up in a penitentiary already full of her ex-allies, but, who knows? The peso could also keep falling and then, all bets are off.

To sum it up, if you like investment opportunities and very livable cities, keep an eye in the coming weeks on Buenos Aires and the peso. It might be that in one month, or three, the prices of apartments (even quoted in USD) might, at long last, tumble. Argentine apartment owners weather most crisis but not all. At some point, some of them will have to sell, and sell cheap, if the situation keeps deteriorating.

[asdfk]

That is interesting. Can a foreigner buy property easily in Argentina?