Originally Posted by
Gaucho100K
All rates are currently quite volatile, and spreads are HUGE. The market will open today at around 1100AM and all the small print of the measures are being announced as I type this post. It is unclear how these measures will affect the Blue Market rate, although many think that the initial very short term impact may be of a softening of the rate and then a continued rise...... very hard to tell at this point. Stay tuned for more news......
BTW, Xoom is currently offering 10,3525 gross of fees/expenses, so depending on how much you trade and how you fund Xoom you effective exchange rate will be approx. 10 pesos per Dollar.
Hello Gaucho and friends. I ultimately waited until arriving in Argentina to exchange.
My results are as follows thus far:
13 Feb USD3000 @ 11.5 at "Exchange & Antiques" on Rodriguez Pena in Recoleta.
16 Feb USD1000 @ 10.8 at a place in La Boca, the name of which I don't recall. I am told that the rate is bad on the weekends.
17 Feb USD1500 @ 10.6057 via XOOM, plus a USD30 fee.
17 Feb USD200 @ 11.2, same place on Rodriguez Pena.
A few observations, some of which may have been made by previous posters:
Avoid weekend exchange - rates are much worse.
My hotel (Algodon Mansion) offered a 5% discount for paying in cash in ARS, which was a nice benefit on top of the Dolar Blue rate. Park Hyatt did not offer a similar discount.
My concierge thought it a bad idea to go to Calle Florida because of the risk of counterfeit currency and theft, but was more adamant about the former. She suggested the place on Rodriguez Pena and a few others. Perhaps they get some type of commission but others warned of counterfeit risks as well on Florida.
XOOM was a minor hassle but will be better next time with the help of my recent experience. Certainly a good option once you run out of cash. It was very simple to use electronically even for a first timer like myself. The cash pickup would have been better had I first visited to the "Central" location at Libertad 1057 entre Santa Fé y Marcelo T. Alvear. The branch location I went to first said that ARS ~16.000 was too much money for me to pick up at once.