arjundutt

oh man!! I wish I had thought to check here before going to Bank of America and getting some ARS. They gave me 2200 ARS for 502.44 USD. I am seriously kicking myself!!

BostonGuy

So what's the best strategy for doing this?

American cash in my suitcase? Offer the dollars direct to the merchant? Or go to a blue exchange? Would that be only in downtown Buenos Aires or also in smaller towns?

Also, would travelers checks in US denominations be an option for safety's sake?

Schultzois

Blue-market exchanges are a bit "under-the-radar" since Argentine government has been restricting exchange of pesos for dollars... so you basically have to know someone to have access to it.

If you do, US cash (preferably 100s only, and preferably new, clean, no tears and no writing on the bills) that you carry down on your person (taking care, obviously). Remember that in virtually every country you must declare anything more than US$10,000 to customs, so best to carry less than that. Failure to declare can result in the whole amount being seized, so not worth taking any chances!

More practical for the visitor who doesn't know someone who can change dollars on the blue market is to send money to yourself using Xoom.com

It's almost the blue rate, and you don't have to worry about flying with a stack of cash on you... note that there are limits to the amounts you can send at once, though, and although the Xoom.com site says it's almost instant and you can pick up from a lot of places, the reality is that it takes at least several hours, even a day - or more if their extra "security" checks kick-in. There's also only one place in Buenos Aires that you can pick up the cash (in Microcentro).

Finally, some merchants will readily accept dollars instead of pesos for larger purchases, but this is by no means uniform.

atLAS, aLAS

It seems to me that I could bring USD in crispy 100s from USA, change at the blue market, then go into Buenos Aires AMEX office and pay my AMEX bill in Argentine Pesos cash. Or would they say that, yes, our spread for FOREX transactions is 4.x/6.x. What doesn't work here?

BostonGuy

Xoom sounds really interesting.

I've already agreed to pay one of my hotels in cash, but I'm sure they want my USDs.

I sure hope the exchange place Xoom uses in B.A. has legit bills. Counterfeits could ruin the trip.

No problem accessing the Xoom website from Argentina, right?

It will be interesting to see what happens in Mendoza at the wineries. That's where I would really like to get some value for my dollar. I wonder if I would do better there with dollars or pesos obtained via a Xoom transfer to cash (today 6.36).

One thing's for sure - doing a bunch of shopping with a credit card would be a bad idea.

Gaucho100K

Yes this will work..... but...

Just one minor detail, though. You would have to be paying for an Amex card issued in Argentina. If you want to pay for a US issued card with Argentine Pesos Cash, me thinks that you would be turned back.....

rruaco

The guys at BA Free Tour were able to give me some advice about exchanging money so I'd recommend getting in touch with them. In particular they gave me a lesson in identifying fake currency and I had no problem with counterfeits so I guess it worked :-)

(The tour was good, too!)

A lot of upscale places were only exchanging at the "official" rate of 4.7-4.8 / USD. Generally the cheaper the place the better the exchange rate.

willchrisusa

Thanks for all the useful information on currency / exchange in BA. I'm transiting BA in January and will be there a few days. Considering carrying small bill US vs. currency transfer service like XOOMS for pickup in Recoleta. Not much shopping but anticipate expenses for meals, taxis etc. Suggestions?

Schultzois

In my experience "blue" exchange only really has interest in US$100 notes. They should also be relatively clean, without any little tears and also without any unnecessary writing on them... you may find that "small bills" can only be changed through conventional channels (i.e. official rate of 4.80 instead of 6.20 or so).

That said, I'm no expert on this, as I do almost all my changing through one contact who changes a lot at once each day in Microcentro... but his requirements are not inconsistent with what others have told me they've experienced in the cuevas.

powder-wing

Hi all! Im going to be going to Argentina next year for 3months plus.im reading my lonely
Planet and the posts on here.when I came across this thread.im totally confused as to what currency I should carry and how I should pay, and how to exchange notes for coins.i mean do I carry pounds,dollars or Pesos,im coming from the UK. Thanks

3544quebec

If things remain as they are $US100 notes win hands down but that is a big if
Watch this space closer to your departure date as you can be assured that there will be no more up to date advice elsewhere on the internet

HIDDY

Can you get Pesos in the UK now....never used to.

I would carry US$ and wouldn't bother with the £'s. You can also use ATM's but the transaction costs vary. Nationwide used to do a card which allowed withdrawals from ATM's abroad without a fee but I think that might have been done away with. It's still worth your while investigating the options available to you. The Moneysavingexpert site might help you out there.

Yes you can get better exchange rates for your dollars up some back alleys but just be aware of the pitfalls.

rruaco

I concur. The locals seemed to be happiest with US$, would take euros (for a discount) and didn't care about anything else.

Since you can buy US$ at very fair rate of exchange in the UK, seems like the best bet.

3544quebec

Agree with everything but you understate the power/importance of Brazilian tourists in the Argentine market. One cueva even told me they would happily change my Aussie dollars -didn't ask the rate though.

Along Av Florida all the calls are Cambio Cambio Cambio Dolar Euro Real

Gaucho100K

Most currencies will be accepted, but it is true that the ForEx spreads are larger for Euros, Reais, Ozzies and other stuff when compared to Greenbacks.