I am traveling in Argentina and we have been exchanging money in shops that buy gold (Compra Oro) an

How To Get The Best Exchange Rate When Traveling To Argentina | A Gringo in Buenos Aires Home About Contact Subscribe Gringo in Buenos Aires Newsletter Argentine Slang Dictionary Argentine Slang Phrases Neighborhood Guides Villa Devoto La Boca Villa Crespo Caballito Almagro San Telmo Barracas Puerto Madero Palermo Palermo home based travel agency Soho Palermo Hollywood Alto Palermo Palermo home based travel agency Viejo Palermo Chico Las Cañitas Recoleta Nuñez Belgrano Colegiales Retiro Constitución Mataderos Monserrat San Nicolàs Balvanera Boedo San Cristóbal Flores Saavedra Chacarita Agronomía Villa Urquiza Nueva Pompeya Parque Chacabuco Store A Gringo in Buenos Aires Culture Architecture Art Film History Soccer Spanish Theater Events home based travel agency Food Drink Drink Food Restaurants Living Accommodations Nightlife Bars Clubs Music Peñas Folklóricas Tango Offbeat Opinions Recreation Tips Tricks Getting Around Hacking Buenos home based travel agency Aires Tech How To Get The Best Exchange Rate When Traveling To Argentina
Argentina is definitely not as cheap as it once was due to continued inflation each year. While the value of the peso has gone down in relation to the dollar over the years (when I first arrived in Buenos Aires 3 years ago 1 US dollar = around 3.9 pesos at the official rate, today 1 US dollar = 4.6 pesos.), the rapid rate of price inflation has made the effects of a stronger dollar vs. the peso minimal. For example, let s say a beer cost 10 pesos in 2009 and today it costs 20 pesos (I am not using exact data here, just hypothetical.). home based travel agency That beer that was 10 pesos in 2009 cost 2.56 dollars. The 20 peso beer of today costs 4.33 dollars. So while the peso has gotten weaker in relation to the dollar, someone s purchasing power who has converted their dollars to pesos is still weaker.
Something home based travel agency that recently amazed me was that for many tourists coming to Buenos Aires, they might be getting even a worse rate than the official rate of 4.6 if they exchange their money at the airport, which a lot of people do. While at the airport recently looking at the rates, the exchange houses were giving home based travel agency a horrible rate of 3.5 pesos to a 1 US dollar!!
There are a few tips and tricks that can make the purchasing power for those with dollars to be much stronger and closer to with what they would of payed 3 years ago in dollar terms. The key to increasing one s purchasing power is to buy Pesos as close as possible to the free market rate of the peso, called the Blue rate. This is the rate that represents the real value of the Argentine peso in relation to the dollar and that is not artificially kept overvalued by government controls. The blue rate is currently at 6.41 pesos per dollar. Lets take a look at some examples.
I was first introduced to xoom.com by DaVe who runs the great Buenos Aires expat blog discoverbuenosaires.com . Xoom is an online international money transfer service. Xoom partners with select money transfer services in countries around the world and allows you to send money from your bank account home based travel agency in the United States home based travel agency directly into an Argentine bank account or for cash pick up at More Argentina (Xoom s money transfer service in Argentina) using only the internet.
The real value in Xoom besides its convenience is it provides an exchange rate that is close to the blue rate. For example, the rate given on Xoom as of this writing is 6.1184. home based travel agency So using the example from above, a 20 peso beer today would cost $3.27 dollars at the rate of 6.1184. While it still is not as cheap as what the beer cost in 2009 at $2.56 dollars, it is still much cheaper than if you would of bought pesos at the official rate (1 beer= $4.33 dollars). So instead of paying 69.1% higher for a beer, you are only paying 27.7% higher in dollar terms.
The savings are more apparent home based travel agency if you buy a large amount of pesos. Lets say you buy 1000 dollars worth of pesos. Instead of getting 4,600 pesos at the official exchange rate, you would get 6,184 pesos. This is even more of a big saving if you compare home based travel agency it with if you would exchange your dollars for pesos in the airport at the crappy rate of 3.5 pesos per dollar. Instead of 3,500 pesos, you would almost have double at 6,164 pesos.
home based travel agency There are fees of 30 dollars for every Xoom transaction over 1000 dollars, $15.75 for over 500 dollars, $3.75 for over 100 and $2.99 for over 25 dollars, which do lower your effective rate a bit, but if you do large transactions it is minimal. DaVe from discoverbuenosaires.com does a detailed break down of your savings included transaction fees here .
For travelers coming to Buenos Aires who don t have bank accounts home based travel agency in Argentina, it is still possible to use the Xoom money pick up feature. You can transfer the money online after you set up your xoom account and then pick up your pesos at the More Argentina branch located in Recoleta at Libertad 1057.
As many have read about recently in the news, dollars are in high demand in Argentina. It is impossible home based travel agency to save in Argentine Pesos due to inflation, home based travel agency so traditionally Argentines have looked to both dollars and real estate as a store of value. With recent laws being passed basically banning the purchase of dollars through official channels, dollars are in as high demand as ever. This has resulted in the free market price of the dollar (blue rate) to shoot up recently, creating a large gap between the official rate and the blue rate. Ordinary Argentines looking home based travel agency to buy dollars are forced to pay the higher free market rate in the black market.
Fortunately there is a way for both travelers to Argentina and local Argentines to come together and benefit from a mutual exchange. Instead of buying pesos at a bank or at an exchange house, you can sell dollars to an Argentine friend who is looking for dollars. In terms of the rate, you can meet in the middle. So with the official rate at 4.6 and the Blue Rate at 6.41, you could do the exchange at a rate of 5.5.
This was both a safe and convenient way for both people to get what they wanted without having to go to a sketchy underground exchange house and risk being ripped off. Of course, if you are coming to Argentina and you don t know anyone this is a hard thing to do. But if you have friends in Argentina, this is a great option.
This is not the preferred way to do it, but there are probably exchange houses that will give you a better rate than the official rate. If you go to a official exchange house, you will probably get a better rate than if you change your money at the airport. The rate will be around the official rate of 4.6. But if you look around the streets hard enough, you might be able to find a house that will buy dollars for a better rate. Just be careful with these exchange houses as they might try to rip you off, especially if you don t speak good Spanish and you are a tourist. These are three options that you can use to increase your purchasing power in Argentina if you have dollars. Does anyone else have any good advice about exchanging money in Argentina? Please let us know in the comments.
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I was tired of changing dollars and getting so little money back, then one day I was walking home based travel agency around Florida and Lavalle (near the Obelisco) and to my surprise most of the exchange houses there change money at a ridiculously good rate: 1 US = 6 Pesos Argentinos. Hope this helps someone! Thanks for the article. Conor says: August 30, 2012 at 9:45 pm
Just out of curiosity, is it common for people to use dollars in shops instead of pesos and get a good return close to the blue rate in the transaction? What I mean is, could I go in to a shop or restaurant and go Hey, I have some dollars, home based travel agency wanna pay the bill in dollars? James says: October 3, 2012 at 6:52 pm
I am traveling in Argentina and we have been exchanging money in shops that buy gold (Compra Oro) and recently in a fancy shoe store. We have gotten between 6 and 6.15. They don t advertise that they exchange money, but the guy in the gold shop said most places that buy gold are also dealing in the black market for dollars. home based travel agency When in Venezuela we had to deal with this same issue and found by asking around that common exchange places are any store that tends to cater to the upper classes (i.e. the people who can afford to stock up on dollars), thus the fancy shoe store. Places that sell jewelery and/or suits may work too. Often if you just ask around you will get directed to somewhere home based travel agency with a good rate. Ken says: October 12, 2012 at 6:46 pm
I was in Buenos Aires 5 years ago and was back a couple of times this year and I couldn t BELIEVE the cost of a basket of groceries in 2012 vs. 2007! Inflation here is just crazy. Thanks so much for these tips; they are really helpful.
In order to play the black market one needs a good supply of USD, which is a problem for the likes of me as being British I can t use Xoom.com and the Argentine ATM s won t dispense USD (at least to non-US acct holders) as they seemingly promise to do. However, if you re in BA you can pop across the river to Colonia where Uruguayan ATM s will dispense dollars although (in my case) only $300 a day. However if you have more than one debit card (I have 4) and stay overnight you can do the transaction twice which makes the trip more worthwhile. I spend a couple of months per year in Posadas (Misiones) from where I can pop over the bridge to Encarnacion (Paraguay) and do the same thing. Max S. says: January 4, 2013 at 12:46 am
Great article. home based travel agency Thank you! I remember going to Argentina in 2005 vs. 2011 and inflation killed it for me. It was once a place for Americans to go and feel rich due to exchange rates but inflation has killed that. It costs as much there as it does here in the U.S. with very few exceptions.
hi i used to travel to argentina every two or three months because of my job, and i contact a web page that gives you great rate a