On 12/16/15, 5:30 PM, "John Levine"
<johnl(_at_)taugh(_dot_)com<mailto:johnl(_at_)taugh(_dot_)com>> wrote:
When the government drops currency controls, the official rate will
move toward the blue rate. The blue rate builds in a bit of a risk
premium since it's officially illegal (although you can't walk two
metres on Florida without someone saying "cambio, cambio") so the
future real rate is likely to be not quite as good as the blue rate.
Yes, that is happening now.
http://www.bloomberg.com/news/articles/2015-12-16/argentina-to-announce-lifting-of-currency-controls-today
So things will be very different by the time of the IETF meeting (it is very
fluid and hard for any of us to speculate how it will work, as much in
Argentina seems to be changing).
Jason