Black Market Argentine Pesos - MUST READ before going
 

We just finished traveling from Arizona to Argentina, and spent 5 months in Argentina. I was shocked at the number of travelers I met in Argentina who didn't know about the black market for USD. Basically, by bringing USD with you and selling them on the black market, you save 30% on everything you buy. If you're getting your money from ATMs in Argentina, you're throwing your money in the trash.

I devoted my latest blog to this topic. Here she is, in all her glory and detail:

Dirty Money, Clean Getaway

Remember the good ol' days when the dollar was still a national currency before it replaced the Gold Bullion?

http://upload.wikimedia.org/wikipedi...illobverse.jpg

At that time, doubling the monetary mass would mean dividing subsequently the value of the national currency but two with 100% inflation...we live upon ww2 pre globalization monetary status, 70 years ago, with double standards, inflation for national currencies, asset bubbles for international ones.

That is so true!Bloody populist goverment........
But be aware of bringing lots of cash bills with you:nono:
There is an industry for robbing unexperienced tourists.....with lots of tricks.

Rate is now at 8.7 in Buenos Aires. You can change on Florida Street (the pedestrian only street near Plaza Mayo). Go to any newspaper kiosk and ask, they'll point you in the right direction. The rates were slightly less if you change less than $1000 USD.

Also in Bariloche you can change at the normal casa de cambios. We changed about a month ago for 7.4, but now the rate is going up again.

If you don't have dollars you can go to Chile and draw Chilean pesos from the ATM and change to USD. We got the best CLP/USD rate in Puerto Natales. Lost less than 1% on the deal. The small cambio next to the Salomon store gave the best rates and had the most dollars available.

We also heard you can draw up to US$500 in Uruguay (per card per day). But we have not yet verified.

Good luck everyone!

To give this a bump, somewhat more wordy, but on the same topic, my post of a few weeks back:

http://www.horizonsunlimited.com/hub...-a-guide-68641

Life is Good, Very Good
 

Living the good life in Buenos Aires try Xoom.com

not quite the 8 plus rate per dollar as one can find downtown with the money changers, but I got 7.6 per US dollar last week.

eat , drink and be careful

Currently in Salta now and getting 8.4 off the street. The rate has come down a bit in the last few weeks. I picked some up in bolivia at a rate of 9!

If anyone is heading for Argentina I have A$156.00 which will at the moment cost you £19.68 from anATM in BA (check the OANDA site) Yours for £15.00. Ride safe and if you fly into BA book into the HI Obelisk and get the free minibus from the airport.

its not black market its blue market and use DolarBlue.net - precio diario del Dolar Paralelo en Argentina to check the rates.

You get more for larger bills like 100usd. Its pretty safe on Florida to change them. Take a small amount say 100usd) and use one of the guys on the street. They will likely take you to a travel agents to do the transaction. The next day go directly to the travel agent and miss the middle man and get a slightly better rate.

Is this only in Argentina or also in neighbouring countries. I'm doing Brazil, Bolivia and Peru soon, that's why I ask. Would it be a good idea to bring dollars from home to have a hard currency?

Always handy to have some dollars. Problems only in Argentina the others have cash machines. Brazil is hit and miss with which bank works. 1 in 5 maybe but normal if you travel just a pain when you are trying 5 places each time. Watch for pick pockets in Argentina especially.

Dollars sell at a big premium only in Argentina (and Venezuela, of course). In Brazil look for the cash machines with the VISA/Mastercard logos and they'll usually work fine. You'll get used to which banks have them and which don't.

Never a bad idea to carry some hard currency, no matter where you go.

Hope that's helpful.

Mark

I made the mistake of bringing small 20USD bills with me.
If you want a proper exchange rate make sure to bring 50 and 100 USD bills!