GallyChef

Travelling next month to BA. I plan to bring USD in crisp $50 and $100 as advised elsewhere around here. Some questions, though, as the unofficial exchange rate has climbed higher than the official state rate. The questions below basically boil down to: "what's the best method of spending my USD in AR?"


- Will US credit cards convert based on the official ~60ARS/USD, or on the "Blue" rate of ~75ARS/USD? CC spending is typically my MO when traveling--it feels far less risky than dealing with fake currency, loss/theft, etc. So If the answer is the latter, I'd just as well lean on my plastic (metal).

- Will bank withdrawals using an ATM convert based on the official ~60ARS/USD, or on the "Blue" rate of ~75/USD?

- Otherwise, if exchanging/spending USD cash locally, I gather I should be looking to negotiate/exchange around the "Blue" rate?

- My rate reference is https://www.ambito.com/contenidos/dolar.html, which was referenced elsewhere in the forum, to understand my exchange rates. If I should use another site, I'd love to hear of it. And on this note, what does "Tourist" dollar refer to? I assume I won't be getting that rate, but I'd like to understand what it means.

- I've read of folks doing Western Union transfers to themselves--is this somehow better than the above options??


I tried to find this information elsewhere in the forum and failed: please forgive any repeats from elsewhere!

malagajohn

All bank transactions , ATMs and credit cards are calculated at the official rate.

The Blue rate is available at non official exchange houses , sometimes called "cuevas"

Western Union , at the moment , is giving the best exchange rates for overseas transfers made on their online page ( USD, GBP or EUR and maybe other currencies as well) to Argentine based people , residents or tourists. They are paid out in Pesos.

The tourist dollar only affects Argentine residents . Basically it is the official rate plus a 30% "tax" for using foreign currency on vacation or on international purchases.

Flying Machine

Western Union
Wow $83.94 ARS to USD
Never knew thanks malagajohn..
And if you pay in the US at a Western Union location there’s only a $9.00 USD transaction fee

GallyChef

Thanks--this is all informative!

Is it possible to arrange for such a transfer from within AR? i.e. I set up an account with WU and just transfer from my bank account to the nearest WU, etc?

On the off chance it's an easy answer: is Uruguay similar in all these sorts of things, or is that a country where everything is more/less based on official rates? I'll post to the Uruguay form if necessary!

baby_tux

Just got back from Argentina, we used Western Union from within Argentina to send money to ourselves using their app. We used our Canadian credit cards, despite the higher fees this was worth it (30-35% advantage over official). Strangely, the transaction posted as regular purchase, not a cash advance. However, we had many issues, like the bank rejecting the transaction, technical issues with WU, or WU not wanting to complete the transaction due to fraud protection. The best is to have someone to send you the money from your home country using good old cash.
In BA, we picked up the cash at the agency located at Montevideo 825. Most places don't have enough cash (for like 50K ARS+) otherwise. It is closed on Saturdays after noon and on Sundays.

Some shops or restaurants will accept USD at a rate closer to blue (70-75).

GallyChef

Thanks--this is great stuff. My plan now will be to get folks in the US to go to their nearest big supermarket chain and send money that way. Could paypal them or leave cash with them. The rates appear to be way lower this way ($7 for $100, or $9 for $500, based on some quick searches).

Anybody have any advice on how much to budget transferring at a time? I have a hard time conceptualizing how much we'll be spending daily (lodging is prepaid via AirBnb, so mainly it ought to be cabs, food, and entertainment)...

Thanks!

The doomed

So should we all be transferring in GBP 10,000 via Western Union, collecting it in as Pesos in BA, and bringing it home to exchange back to GBP?

malagajohn

Don't think any bank in the UK will exchange Pesos to GBP

malagajohn

Uruguay has only one exchange rate......

M60_to_LGA

No, Uruguay is a normal country with a normal currency. Pull cash out of an ATM, use cards - whatever is easiest for you.

One thing to check in Uruguay - when I was there last (Dec. 2018), the government instituted a promotion to entice tourist spending, in which using a credit or debit card for restaurant meal purchases got you a rebate of the VAT. This was a limited-time thing, but given the mess in Argentina (which obviously accounts for a large share of tourist spending in Uruguay), it's possible there might be something similar going on currently. I'd ask at your hotel - might be able to save a few bucks!

GallyChef

Excellent, thanks again--glad I asked. This link indicates the 22% VAT refund promo is still alive: https://guruguay.com/credit-card-vat-off-uruguay/

Seems it covers the following:

M60_to_LGA

Good stuff. I only found out about the deal several days into my trip when a waitress at a restaurant mentioned it. My standard procedure when traveling abroad is always to pay cash when I can (helps keep spending in check), but the discount definitely adds up!

:D!

It is possible to exchange ARS in the UK, but at the current rates you would only get £1 for between 105 and 150 pesos.

Actually if you go to Poland you could exchange ARS to GBP at 75 to 1 - Scottish banknotes are cheaper

malagajohn

Which banks or exchange houses are changing pesos?

Gaucho100K

I would be careful when using exchange services to/from Argentine Pesos to hard currency anywhere in North America and/or Europe. Make sure you read up not only on the exchange rate and fine print, all the services I know will offer a very poor all in conversion rate and you really/absolutely dont need local currency cash the moment you touch the ground at EZE. There is always time to place a proper trade once you are settled into your hotel... just my 2 cents on this.