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-   -   Currency Controls (https://www.flyertalk.com/forum/argentina/2002625-currency-controls.html)

iahphx Jan 21, 2023 4:33 pm

Booked a flight to Buenos Aires for the first time since the pandemic. Trying to get up to speed on the blue rate situation. Is there a quick synopsis I can read of the current situation before tackling the entirety of this thread? Thanks!

stan1162 Jan 22, 2023 3:24 pm

OK, first lodging data point.
 

Originally Posted by OskiBear (Post 34927066)
Curious about this as well as I'm starting to plan this year's annual trek to Argentina. Will be so glad to not have to carry bags of cash.
Don't they have to agree to settle the bill in ARS? If so, the big trip-up would be if one inadvertently selects the horrible Dynamic Currency Conversion (DCC) option on the credit card processing machine and then it gets charged to the card in USD at a conversion rate even worse than the official rate?


We have been in Argentina for a month ( Buenos Aires) where we were in an AirBnB apartment. We are now in Patagonia. El Calafate is our 1st stop.

1. I booked this apartment on Booking.com
2. Choice when reserving, it was a "pay nothing now, pay at property". I've tried to book ALL of my lodging of this sort.
3. The apartment manager met us at the place and we paid her in ARS. We got a wad of them in Buenos Aires because all but one of our places I booked are "pay at property".
4. We are heading to Puerto Natales Chile tomorrow for a few days and will be in El Chalten next. The Bed n Breakfast I booked in El Chalten is also pay at the property. I'll update when we get there.
5. I have an estancia ( El Chalten ) booked that is the only place that was pre-paid.
6. Then Bariloche, where it is also pay at property. All, on booking.com and specifically chosen for the pay at property. Then Mendoza, but that is an AirBnB that was super cheap.

seattleBH Jan 23, 2023 1:54 pm

Here is another data point. It appears that at least some ATMs are matching the credit card rate for cash withdrawals. I used a visa branded ATM card and withdrew 15,000 ARS. The initial rate was ARS287.69 / USD. However, there was a bank fee bundled in there. My bank will credit that fee at the end of the month and I expect the final rate to be something like ARS319 / USD.

I won't be testing this further as I am only using cash for tip money but others might want to experiment.

scubadu Jan 25, 2023 6:09 am


Originally Posted by OskiBear (Post 34937570)
As another poster above pointed out, if you pay cash for your hotel, you're subject to the 20% tax. So, even if the Visa/MC rate is a bit less than the full cash/Western Union exchange rate, you're probably still well ahead using the credit card. And, you don't have to carry a bag of cash, which is what I literally saw last year at the Hyatt. It was kind of comical, but also a bit cumbersome to walk around with that much cash.

If you need an exchange place, your hotel can usually refer you to someplace nearby that is reputable.

Agreed. And additionally, I'd factor in the value of points/miles accrued by paying with credit card (this is Flytertalk!), particularly if paying with a card where travel is a bonus category.

I'm actually excited about all this, if the rate is close enough and if the points/miles earned help close the gap further, that is the path I would go. I personally just don't care for all the money exchange/cash carrying nonsense.

Regards

jbalmuth Jan 25, 2023 9:15 pm

summing up...
 
Am I correct in understanding that U.S. based tourists traveling in Argentina currently paying ARS-denominated expenses, including hotel and restaurant bills, with U.S. based Mastercard or VISA cards, can now expect the rates to approximate 300+/USD? Also that when using a U.S. based VISA card that ARS cash withdrawals from ATM machines will be transacted at a similar rate? Is planning to arrive either with clean USD-denominated currency or with a login to Western Union or similar transfer services now unnecessary? Affirmations, or clarifications, would be very much appreciated.

Eastbay1K Jan 25, 2023 10:25 pm


Originally Posted by jbalmuth (Post 34958082)
Am I correct in understanding that U.S. based tourists traveling in Argentina currently paying ARS-denominated expenses, including hotel and restaurant bills, with U.S. based Mastercard or VISA cards, can now expect the rates to approximate 300+/USD? Also that when using a U.S. based VISA card that ARS cash withdrawals from ATM machines will be transacted at a similar rate? Is planning to arrive either with clean USD-denominated currency or with a login to Western Union or similar transfer services now unnecessary? Affirmations, or clarifications, would be very much appreciated.

You'll most always be better with cash. But that said, here's my most recent observations (from earlier in January, 2023).

Cash was $350, CC was about $311. Do the math - may be worth it for some, not for others. I'd figure future percentage spreads will be similar, but who knows.
Some places prefer cash, will give cash discounts, and/or their ability to process an electronic transactions will be "temporarily suspended," This doesn't typically occur at higher end places, but it certainly can with regularity at smaller places.
WU can be better or worse than the blue. And you run the risk of a location not having sufficient money, or not being open - check the calendar, because Argentina has more holidays than well, probably anywhere other than Argentina.
You'll also need cash for incidentals - taxis, little stores, etc.

I can't speak for the ATMs. Absent an emergency, I don't know I'll use one again before currency exchange becomes normalized again.

boboqui Jan 26, 2023 6:59 am

Is there someplace near to AEP and EZE where one can exchange a few dollars?

mahasamatman Jan 26, 2023 6:01 pm


Originally Posted by Eastbay1K (Post 34958178)
Cash was $350, CC was about $311. Do the math - may be worth it for some, not for others.

Hotels is where it makes the most sense to use a CC. Using those rates as an example, if the price in ARS is 35,000, you would pay $121 in cash ($100 + $21 tax), but only $112 via credit card (no tax).

To me, the biggest drawback to cash is making sure you have no Monopoly money left over when you leave the country.

Gaucho100K Jan 28, 2023 2:53 pm

On the issue of Monopoly money, I recall that the EZE Duty Free will accept Pesos so you could get rid of them before boarding. Even if you dont want perfume, there is always a chocolate or candy that comes in handy...?



Originally Posted by mahasamatman (Post 34960703)
Hotels is where it makes the most sense to use a CC. Using those rates as an example, if the price in ARS is 35,000, you would pay $121 in cash ($100 + $21 tax), but only $112 via credit card (no tax).

To me, the biggest drawback to cash is making sure you have no Monopoly money left over when you leave the country.


Gaucho100K Jan 28, 2023 2:56 pm


Originally Posted by malagajohn (Post 34939074)
Especially if they pay you in 100s.....

No reputable money changer will offer your ARS100 bills... 90% of what you will get is ARS1000, with the odd ARS500 brick. Anything smaller should just be to round off the amount of pesos to match your exchange rate.

mahasamatman Jan 28, 2023 3:47 pm


Originally Posted by Gaucho100K (Post 34965668)
On the issue of Monopoly money, I recall that the EZE Duty Free will accept Pesos so you could get rid of them before boarding.

I don't have a gas mask, so I can't even enter the chemical warfare zone known as duty free. Those areas should be banned under the 1925 Geneva Protocol.

HIDDY Jan 28, 2023 7:27 pm


Originally Posted by boboqui (Post 34958903)
Is there someplace near to AEP and EZE where one can exchange a few dollars?

Depends what you mean by ''near''?

HIDDY Jan 28, 2023 7:36 pm


Originally Posted by mahasamatman (Post 34965797)
I don't have a gas mask, so I can't even enter the chemical warfare zone known as duty free. Those areas should be banned under the 1925 Geneva Protocol.

You feeling alright? Booze is one of the best buys in Argentina along with tobacco. I couldn't survive living here without them!! :tu:

boboqui Jan 29, 2023 3:28 am


Originally Posted by HIDDY (Post 34966240)
Depends what you mean by ''near''?

Walking distance, we’re arriving at both EZE and AEP without any ARS to pay the Cabify.

Eastbay1K Jan 29, 2023 6:07 am


Originally Posted by boboqui (Post 34966815)
Walking distance, we’re arriving at both EZE and AEP without any ARS to pay the Cabify.

That's a big No. You should get an ok-enough rate with your VI.and MC as to not worry about it. Hire your car at a booth inside just past the customs inspection door @ EZE.


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