Money in Argentina: How to Pay and Get the Best Exchange Rate in Buenos Aires
Last Updated on August 27, 2026 by Alan Seabright
If you researched money in Argentina a few years ago, you probably received some unusual advice: arrive with plenty of flawless US $100 bills, avoid cards, learn the blue dollar rate and spend part of your holiday thinking like a currency trader.
That advice once made sense. It is no longer the best plan for most visitors.
Argentina still has several exchange rates. Fortunately, the gap between the main rates is now much smaller than it was during the strict currency-control years. Foreign-issued Visa and Mastercard payments also receive a much better rate than they once did.
The simple answer in 2026 is this:
Use a foreign card with no foreign transaction fee for most purchases, choose Argentine pesos whenever an Argentine payment terminal or website gives you a currency choice, and carry a modest amount of cash for tips, small businesses, markets and cash discounts.
That gives you convenience, security and a competitive exchange rate without spending part of your vacation looking for a marginally better deal.
In this guide
- The 30-second money plan for Argentina
- What currency is used in Argentina?
- Why does Argentina have more than one exchange rate?
- Should you use cash or card in Argentina?
- How to get Argentine pesos in Buenos Aires
- Other common money questions
- Frequently asked questions
The 30-second money plan for Argentina
If you read nothing else, do this:
- Bring two cards, ideally one Visa and one Mastercard, from different accounts.
- Use a card with no foreign transaction fee for most hotels, restaurants, shops and online purchases.
- Whenever an Argentine payment terminal or website gives you a choice of currencies, choose Argentine pesos (ARS) rather than your home currency.
- Carry enough pesos for a day or two, especially for tips, markets, taxis and smaller businesses.
- Bring one or two clean US $100 bills as backup if you already have dollars. You probably do not need to carry your entire trip budget in cash.
- Treat Argentine ATMs as an emergency option, unless your bank refunds ATM fees.
- Compare the final result, not the headline rate. Include transfer fees, card fees, exchange spreads and any cash discount.
For most Buenos Aires visitors, that is enough.
Payment methods at a glance
| Method | Best used for | Keep in mind |
|---|---|---|
| Foreign Visa or Mastercard | Most hotels, restaurants, shops and online purchases | Use a card with no foreign transaction fee and, when an Argentine payment terminal or website offers a currency choice, choose ARS |
| Exchanged cash | Tips, markets, small businesses and worthwhile cash discounts | Exchange a modest amount at a reputable office and count the pesos before leaving |
| Western Union | Getting additional pesos without carrying large amounts of foreign cash | Compare the final payout after fees and allow time for verification and collection |
| Argentine ATM | Emergencies or travelers whose banks refund ATM fees | Local fees can be high and withdrawal limits can be low |
What currency is used in Argentina?
Argentina's official currency is the Argentine peso, written as ARS. Prices normally use the same $ symbol as the US dollar, so context matters. US dollars may be shown as US$, USD or sometimes U$S.
The largest note currently in circulation is ARS 20,000. Even with higher-value notes now available, exchanging a few hundred dollars can leave you with more notes than you might expect.
Why does Argentina have more than one exchange rate?
Visitors do not need to master every rate quoted in the Argentine financial press. These are the four terms you are most likely to encounter:
| Rate | Where visitors encounter it | How much should you care? |
|---|---|---|
| Official | Banks, exchange-rate websites and economic reporting | Use it as a benchmark rather than assuming it is the rate you will receive |
| MEP or foreign-card | Eligible purchases made with foreign-issued cards | Important if you plan to pay mainly by Visa or Mastercard |
| Blue | Exchanging physical foreign currency for pesos | Compare the blue compra rate before exchanging cash |
| CCL | Financial markets and economic reporting | Usually not important for an ordinary visitor, but useful background when comparing financial services |
Official rate
The official exchange rate currently floats within an exchange-rate band set by the BCRA. Since January 2026, the floor and ceiling move each month according to the latest monthly inflation figure published by INDEC. It remains useful as a benchmark, but it is not necessarily the rate a foreign card, cash exchange or money transfer will use.
MEP or foreign-card rate
MEP is a legal financial-market dollar rate. Eligible foreign-issued cards are converted at a preferential tourist rate linked closely to this market.
Visa confirms that foreign-issued Visa credit, debit and prepaid cards receive its preferential rate while the program remains in force. Mastercard customers can check an indicative conversion with the Mastercard currency converter.
Blue dollar rate
The dólar blue is the informal cash rate for physical foreign currency. During years of tight currency controls, it could be dramatically better than the official rate. The blue dollar still exists, but the old gap has narrowed substantially.
If you are selling US dollars for pesos, look at the blue buy rate, usually labeled compra. The sell rate, or venta, is what you would pay to buy dollars.
CCL rate
CCL, short for contado con liquidación, is a legal financial-market rate used to move value between Argentina and foreign markets. It is useful background for understanding Argentina’s financial system, but it is not Western Union’s exchange rate.
On our August 27, 2026 check, the official, blue and MEP rates were all in the same general neighborhood. That does not mean they will stay there. Use a live rate page such as Dólar Hoy and compare it with the actual quote from your card network or transfer service.
Should you use cash or card in Argentina?
Use both, but let your card do most of the work.
Cards are best for convenience and security
Visa and Mastercard are widely accepted in Buenos Aires, particularly at hotels, restaurants, supermarkets, museums and larger shops. American Express is accepted less consistently, and Discover is not a card we would rely on here.
Foreign cards no longer receive the deeply unfavorable conversion that inspired so much old travel advice. A good card can now offer a rate close enough to the cash alternatives that carrying large amounts of money is rarely worth the inconvenience and risk.
Before traveling, check whether your bank adds a foreign transaction fee. A 3% fee can matter more than the small difference between today's card and cash rates.
Make one small purchase after arrival and check the settled amount in your banking app. This confirms that the card works and shows the real rate your issuer applied.
Choose Argentine pesos when offered a currency choice
If an Argentine payment terminal or website offers to charge the same purchase in pesos or your home currency, choose Argentine pesos. This avoids dynamic currency conversion. It does not apply when a business prices the purchase directly in another currency.
The home-currency option is called dynamic currency conversion. It lets the merchant or payment provider choose the conversion rate, which is usually worse than letting your card network make the conversion.
The useful Spanish phrase is:
En pesos, por favor.
[In pesos, please.]
This simple choice can save more than chasing a slightly better headline exchange rate.
Cash is still useful
Keep pesos for:
- restaurant and cafe tips
- street markets and small independent shops
- taxis or occasions when a card terminal is unavailable
- small purchases
- businesses offering a cash discount
Some restaurants and shops offer a discount for cash or local bank transfer. It is completely reasonable to ask:
¿Hay descuento pagando en efectivo?
[Is there a discount for paying cash?]
Compare the total cost before choosing. A cash discount can outweigh a slightly weaker exchange rate, but saving 2% on the conversion does not help if you give up a valuable card benefit at home, pay a transfer fee or spend an hour in line.
How to get Argentine pesos in Buenos Aires
Option 1: Exchange US dollars at a reputable exchange office
If you bring dollars, ask your hotel, host or trusted local contact to recommend a reliable exchange office. Compare the quoted rate with the blue compra rate, exchange a modest amount first and count the pesos before leaving.
Cash exchangers often prefer:
- newer US $100 bills
- clean, unmarked notes
- bills without tears or damaged edges
Older dollars remain legal tender in the United States, but some Argentine exchangers may reject them or offer a lower rate. Smaller denominations may also receive a less favorable quote.
Euros can be exchanged in Buenos Aires too, but US dollars are generally the easiest foreign cash to exchange. If your money starts as pounds, Canadian dollars or another currency, do not automatically convert it to US dollars first. Two conversions can erase the supposed saving. A no-fee card may be the better option.
Option 2: Send money to yourself with Western Union
Western Union can be useful if you need more cash than you want to carry into the country. You send money to yourself online and collect Argentine pesos from a participating branch.
Western Union sets its own exchange rate and makes money from currency exchange. Its rate and fees can vary by payment method, payout method, channel, location and promotion. Compare the actual pesos you will receive after all fees.
Before confirming a transfer:
- compare the final pesos received after all fees, not just the advertised rate
- enter your full name exactly as it appears on your passport
- check the required identification and collection hours
- allow time for account verification
- avoid collecting a very large amount at once
Lines and cash availability vary. Smaller branches and destinations outside Buenos Aires may have lower payout capacity. If you plan to use Western Union, set up and verify your account before the trip, then check the current quote on Western Union’s US-to-Argentina quote page. Travelers sending from another country should obtain a quote through the Western Union website or app for their own country.
Credit-card-funded transfers may also be treated as cash advances by the card issuer, so a debit card or bank transfer can be cheaper.
Option 3: Use an ATM, if you must
Argentine ATMs are convenient in theory and often expensive in practice. Local fees can be high, withdrawal limits can be low, and your home bank may add another fee.
If you need an ATM:
- use one inside or attached to a bank during opening hours
- check the fee before accepting
- withdraw the maximum sensible amount in one transaction
- decline any conversion into your home currency
- use a card that refunds international ATM fees if you have one
ATMs are a backup plan, not the best way to fund an entire trip.
Option 4: Exchange a small amount at the airport
You do not need a large pile of pesos the moment you land. Airport transfers, ride-hailing apps and official transport desks can generally be arranged or paid by card.
If having some cash makes you more comfortable, exchange only a small amount at an official airport bank or exchange counter. Airport exchange is about convenience, not getting the day's best rate.
Other common money questions
Should you exchange money on Calle Florida?
On Calle Florida you may hear people calling cambio, cambio. These street representatives are known as arbolitos, or little trees, a reference to green US dollar bills.
Following an unknown street tout can expose you to short-counting, counterfeit notes, a poor rate or theft. With the main rates so close, the small possible saving is not worth the risk.
Our advice is simple: do not exchange money with a stranger on the street. If you want to exchange cash, use an established office or a place recommended by someone you trust.
Do tourists need Mercado Pago or a QR payment app?
Argentines frequently pay by QR code or local bank transfer. Mercado Pago is everywhere, but a normal local account has traditionally required Argentine identification and financial details.
Services such as WanderWallet and Takenos can give eligible foreign visitors access to Argentine QR payments using a funded digital dollar balance. Availability, identity verification, funding methods and fees vary by service, country and device. These apps are usually unnecessary for a short visit, so check the current terms and test the service before relying on it. BuenosTours has no affiliation with either company.
Can you pay directly in US dollars?
Some hotels, tour providers, large supermarkets and tourist-oriented businesses accept US dollars. Many everyday businesses do not, and the rate offered may not be the best one available.
Ask before paying, confirm the exchange rate and agree on whether any change will be returned in dollars or pesos. In most situations, paying by foreign card or exchanging a small amount into pesos is simpler. When an Argentine payment terminal or website offers a currency choice, choose ARS.
A valuable hotel tip: foreign visitors may avoid the 21% VAT
Eligible non-resident tourists can receive Argentina's VAT benefit on qualifying hotel accommodation and included breakfast when payment is made with a foreign-issued credit or debit card, or with a transfer from abroad.
The hotel must verify your foreign residency and issue the correct invoice. Ask the property about the benefit and show your foreign passport. Paying the same eligible hotel bill in local cash may mean losing a saving far larger than any small exchange-rate difference.
You can read the official requirements on the Argentine tax authority's traveler page.
How much cash should you bring to Argentina?
There is no perfect amount because travel styles vary. For a typical short visit to Buenos Aires, you no longer need to bring enough dollars to fund every meal, museum and taxi.
A sensible plan is:
- two cards stored separately
- enough pesos for roughly one or two days of cash-only spending
- one or two clean US $100 bills as an emergency reserve, if you already have dollars
- a transfer option such as Western Union if you later need more cash
Keep most cash in your hotel safe or another secure place, and carry only what you expect to use that day. Avoid leaving Argentina with a large peso balance, since exchanging it abroad can be difficult and the exchange rate may change.
Travelers carrying USD 10,000 or more in cash or monetary instruments should check Argentina’s current customs declaration requirements. There is almost never a practical reason for an ordinary visitor to carry anything close to that amount.
Our bottom line
The old blue-dollar advice forced visitors to choose between convenience and a much better exchange rate. In 2026, that tradeoff is far less significant.
For most BuenosTours guests, the best combination is:
A no-foreign-transaction-fee Visa or Mastercard for most purchases, with ARS selected whenever an Argentine payment terminal or website offers a currency choice, plus a small cash reserve for tips, markets, minor purchases and worthwhile cash discounts.
Check the live rates if you want to compare every option. If the difference is small, choose the safer and more convenient method. Buenos Aires offers much better uses for an hour than standing in an exchange queue.
Prefer a day built around your schedule and interests? Explore our private Buenos Aires tours.
Frequently asked questions
Is it better to use cash or card in Argentina?
Use a foreign Visa or Mastercard for most purchases and carry some pesos for tips, markets, small businesses and cash discounts. A card-first, cash-backup strategy is the best balance for most visitors.
Do foreign credit cards get a good exchange rate in Argentina?
Eligible foreign-issued cards generally receive a preferential tourist rate linked near the MEP financial rate. Check your network's calculator and add any foreign transaction fee charged by your bank.
Should I bring US dollars to Buenos Aires?
A small emergency reserve is useful, but most short-stay visitors do not need to carry their entire budget in dollars. If you bring cash to exchange, newer, clean US $100 bills usually receive the best treatment.
Does the blue dollar still exist in Argentina?
Yes, but the difference between the blue, official and financial rates is currently much smaller than it was during the strict currency-control years. Check current rates before deciding whether exchanging cash is worth the trouble.
What is the best exchange rate in Buenos Aires?
There is no permanently best method. Compare the blue compra rate for cash, your card network's foreign-tourist conversion and the final Western Union payout after fees. Cash discounts can also change the answer for an individual purchase.
Is Western Union a good way to get pesos in Argentina?
It can be, especially if you need cash without traveling with a large amount of US currency. Compare the final payout after fees, verify your account in advance and expect branch limits, lines or cash-availability differences.
Should I use an ATM in Argentina?
Only when convenience matters more than cost, or when your bank refunds local ATM fees. Low withdrawal limits and fixed fees often make ATMs poor value.
Should I choose pesos or my home currency at the card terminal?
When an Argentine payment terminal or website offers both, choose Argentine pesos. Let your card network make the conversion. Choosing your home currency usually triggers dynamic currency conversion at a worse rate.
Why does BuenosTours charge in US dollars?
BuenosTours operates through a US-based LLC and processes online bookings in US dollars through a US Stripe payment-processing account. We set up the business this way partly to make booking and payment straightforward for our mainly US clientele. This avoids currency conversion for most US customers and keeps the price clear from booking to tour day. Customers whose cards are billed in another currency should check their bank’s exchange rate and any foreign transaction fee.
Reader interactions
Archived reader discussion: 2014 onwards
A note about the comments below
This article was completely rewritten and fact-checked in August 2026. Many comments below date from 2014 to 2020, when Argentina's currency system and the advice for visitors were very different. We have preserved them as a useful historical discussion, but exchange rates, fees, limits and recommendations mentioned in them may no longer be accurate. Please use the article above for our current advice.
BuenosTours update, August 2026: We have completely rewritten and fact-checked the guide above. The discussion below goes back to 2014 and shows how much Argentina's money situation has changed. Please use the current article rather than the rates or recommendations in older comments when planning your trip.
54 Replies to “Money in Argentina: How to Pay and Get the Best Exchange Rate in Buenos Aires”
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I recently left Argentina with way too many pesos in hand. I am trying to exchange them and got hit with the fact that the official rate is non existent in the USA. I am trying to find the best place to sell pesos so I am not stuck losing money. What can I do? Who is the best buyer?
Hi Mark,
Thanks for your comment. Ouch, that’s unfortunate. As far as I know, the only solution would be to hold on to your pesos until you next return to Argentina to spend them (and hope that they are still worth something then!) – or alternatively look for a friend, family or acquaintance who is going and may want to buy the pesos from you.
The only rumour I have heard of people accepting pesos for anything close to the official rate in the USA is in Miami – I believe that because a lot of Argentines live and visit there, some places they frequent do try to accept pesos at a more amenable rate. So if by chance you happen to pass through Miami, that could be something to look into. Beyond that, we’re sorry we can’t help further – our advice is always to only buy enough pesos in Argentina that you will spend, and make sure you spend them all before you go. It is almost impossible to change pesos back into USD at the official rate even in Argentina, yet alone abroad.
Best of luck!
Alan
I would post on Craigslist in hopes someone who is traveling will want to have some pesos as soon as they arrive in Argentina.
Good suggestion, thanks TJ! Perhaps someone would want to change with Mark at an agreed rate somewhere between the official and “blue”, as that is probably the fairest way to do this.
But as ever, if posting on Craigslist or anywhere online about conducting a cash transaction with an unknown individual, be careful about meeting in a public place you feel safe in. Always best to err on the side of caution.
All the best,
Alan
I live in Los Angeles and in need of pesos at the blue
rate
You have any suggestions?
[email address removed]
Hi Martha,
I’ve never been to Los Angeles, but perhaps someone else might read your comment here and have an answer.
Best of luck!
Alan
I really want to thank you guys for helping. I already posted on the dallas Craigslist. Since then, I found a company in Beverly Hills California called international exchange. I am flying there this weekend. They offer fair rates and I can almost break even
That’s great, glad you found a solution Mark! Do you have the details for that company (a website or anything)? That way if anyone else is in the same situation and sees this post they could also contact them. Cheers! Alan
The website is www. foreignmoney .com
I lost over $1,500 to the thieves at Chase Bank. With this new exchange company, I can now exchange the rest and break even.
I also spoke with the Maya Restaurant in Miami on Nichols Ave South Beach. This restaurant still takes Pesos at the official rate for those who are in that area. They will allow you to eat regularly from their menu using pesos. I guess if I ever become homeless in Miami, I’ll be ok if I stock up on blue market pesos first:)))
Thanks again Alan
Thanks for the info Mark. I’m REALLY surprised that foreignmoney .com are exchanging pesos to dollars at the official rate, or close to it. To be honest, I can’t think of what’s in it for them. People that travel a lot between the US and Argentina could make a huge amount of money by buying pesos at the blue rate in Argentina, selling them at the official rate at foreignmoney .com when back in the US, rinse and repeat. Not that I want to give anyone ideas but…
I’ll definitely use that Maya Restaurant tip next time I’m in Miami with some pesos, thanks!
I would definitely be well acquainted with how the peso notes look and feel as well as know what to look for on/in the note that shows it’s an authentic banknote. If you have never used pesos then how would you know what is real and what is counterfeit? A friend, who just got back from Buenos Aires, lost $700.00 because he used a cueva to exchange money. The majority of the 100 and 50 peso notes were fake. He was advised by the hotel and the US embassy not to go to the police. He was told that he could possibly be arrested for buying illegal currency. Also, I would not feel very safe walking around Buenos Aires with a wade of 100 and 50 dollar bills. If you are going to travel to 3rd world countries you have to expect to be ripped off by just about everyone. Just my two pesos worth. Adios.
Thanks for your comment Sebastian. For anyone concerned about avoiding fake peso bills, there is a link to an article about just that at the very end of our blog post on this page.
Did your friend get a recommendation for a cueva from someone he trusts? As we mention in this blog post, that really is important to ensure you are dealing with people who won’t scam you. Most cuevas wouldn’t do anything like what your friend experienced, because they survive on repeat business and word of mouth. A cueva that does what you mention won’t stay in business for long.
It is highly unlikely anyone would be arrested for buying “illegal” currency, by the way. Often the police are waiting outside of cuevas to ensure that people can change their money safely. The police are not out to stop anyone from changing money in this manner, so to anyone reading, I would not worry about this – as long as you go to a cueva recommended by someone that you trust (your hotel or tour guide, for example).
Finally, many people walk around Buenos Aires with wads of bills all the time, to go to and from cuevas, and do so perfectly safely. In fact, I would say that you can do so more safely in BA than in many US or European cities, from experience. To suggest that Argentina is dangerous and call it a “3rd world country” is not only biased/inaccurate, but also would be offensive for many. Something to consider.
All the best,
Alan
i would like to find a local BA tour operator that sells inclusive tours to the falls for example and to other parts of Argentina
Thanks for your comment John.
We would recommend searching online for the companies “Plan South America” and “Tangol”, who offer such tours to other parts of Argentina.
Best of luck,
Alan
I’ll be in Argentina for a month with hotels and car hire. One week BA, one week Cordoba, two weeks Salta. Will hotels in the provinces accept dollars? Are there cuevas in the provinces? Do rent-a-car companies accept cash? Or should I do all my conversions in BA?
Thanks
Hello Bob, thank you for your comment.
I’m afraid we only have good knowledge of the dollar blue and cuevas etc in the city of Buenos Aires. I strongly believe you will find cuevas/places to exchange at close to the blue rate in the cities of Cordoba and Salta, but I am unsure about in the rest of the provinces outside of their capital cities. I wouldn’t risk it and would recommend exchanging enough money in advance to last during the time between being in the 3 major cities of Buenos Aires, Cordoba and Salta.
Hotels will probably accept dollars cash across Argentina, but I would recommend double checking in each case in advance to make sure, and also what rate they will give (if the prices were quoted in pesos… usually hotels here are priced in dollars anyway). You may not get any special deal with all hotels for paying in USD cash anyway, but it is worth asking and trying.
Rent a car companies should accept cash, probably pesos, maybe USD, but you also may have to pay at least an initial booking deposit with a card, and you almost certainly will have to get a large amount of money “authorised” on a credit card to allow you to rent the car.
Finally, in terms of changing money, I would recommend doing as much as you can in the city of Buenos Aires, as you will find the most cuevas here, and probably the best rates.
I hope this helps. Have a great trip!
Alan
I went to Buenos Aires for extended trips in 2003 & 2005 & found it to be very cheap. I read that since then inflation has been high. But I find from La Nacion (& XE.com) that the exchange rates – official – are more than three times higher than in 2005. Does that offset the inflation?
Re the ‘Blue’ rate, in 2005 I approached a ‘Cambio’ man in Florida. Immediately a huge policeman came over & as far as I could tell from my understanding of Spanish he told me not to deal with this man because it was illegal. But he did not arrest the ‘Cambio’ man, who I saw on subsequent trips to Florida.
I know that Argentina can get complicated at times, but can you tell me how it is that La Nacion is able to quote the ‘Blue’ rate & ‘Cambio’ men are able to operate freely when the whole thing is supposed to be illegal?
Hi Bob,
Thanks for your question. Buenos Aires has changed quite a bit since 2003 and 2005 (I came to live here in 2005).
Inflation has indeed been high since then, and prices have gone up a lot in peso terms. But as you suggest, this is offset a lot by the official exchange rate being about 3 times higher now than then, and the unofficial (blue) exchange rate being about 5 times higher! However, prices are still higher even when working out the cost in USD, but not by a lot. It is still a cheap destination if you bring dollars and change them at the blue rate.
Although changing at the blue rate may be theoretically against the law, things are quite lax in this sense in Argentina. Palms are greased and eyes look the other way. There was some talk of mentioning the blue rate in a newspaper (like La Nacion) being cracked down upon by the government, but it never happened. I would say you should have no worries at all about changing at the blue rate, everybody does it, locals and tourists, it is a normal everyday transaction in practice, whatever the government say about it in theory.
That said, all could change soon when Macri becomes president in around 10 days. He says he will get rid of the blue rate, and if so it is likely that the official rate will end up close to the current blue rate.
All the best,
Alan
Alan – thanks for your helpful comments. In late 2002 when I researched BsAs I found it easy to find prices & exchange rates & figure out that it was a bargain place to go. This turned out to be true both in 2003 & 2005, & I have many examples of what I thought were incredible bargains – like private lessons in ‘Castellano’, transportation of all sorts incl. ‘luxury (‘con cama’)’ long distance bus rides, family restaurant dinners, local laundry services, etc .
Also I had a lot of dental work, physiology, & great massages, for great prices.
But after the big devaluation in Jan 2002 I found that businesses that charged prices in US$, like the big hotels, & tourist Tango shows, did not lower their prices. But I remember reading that other S. American travellers, e.g. from Colombia & Chile, never paid hotels in US$ – they demanded & got the Peso price, which was very much lower.
Right now I find it difficult to find out prices. Colectivos seem to be still very cheap. Subte prices seem to have become complicated. I can’t find current prices for taxis, remises, restaurants, etc. Accommodations seem to be jacking up their prices in US$, & I see no reason for that.
In 2005 I paid US$ 15\day for a nice room in a well serviced house in an ideal location in Belgrano. On the owner’s website I find the same room now costs US$ 60\day – which I think is an outrageous increase.
So I have two problems right now –
Finding out current prices in Pesos.
Understanding why US$ quoted prices are increasing when the local business receives a lot more Pesos with currency fluctuations.
If you have time to comment I would appreciate it.
BTW – in my Internet searches it looks like Costa Rica is a better place to go (but no Tango).
Alan – PS – its Dec 1 & I just read the Buenos Aires Herald (English, online edition) about the current internal gyrations on buying US$ in anticipation of Macri devaluing the Peso to as much as US$1=15 Pesos. (Just as you pointed out earlier).
All too complicated for me, so I’ll stay away until the end of December at least until things settle down (if they do), & then get back to comparing prices against the new official, market exchange rates.
Meanwhile it looks to me to be another case where the rich will get richer & the poor will get poorer.
Hi Bob,
I do indeed think it is best to check what happens after Macri comes to power. The dust probably won’t clear and settle until early next year, probably the major changes will really start to take effect after everyone gets back from their summer vacations, in January or February, or even later.
You are probably right though, the general trend here, and many other places, is the rich getting richer and the poor getting poorer…
Thanks again for commenting!
Alan
Hi Bob,
I have to say I’m no economist, and even if I was, economists struggle to get their heads around the workings of the Argentine economy.
Finding out current prices in pesos are difficult online, as prices have been changing so much due to inflation that most website don’t even bother to display a price, knowing that it would need to be constantly updated.
The reason some local businesses quote in USD is because this is the only way to hedge against inflation. It is extremely common in the tourism area, as knowing a price in USD also makes things easier for most foreign visitors, even if it does mean they are paying more in some cases. Also, although in general businesses are then receiving more pesos for their USD as time goes by due to the exchange rate trend, sometimes inflation for certain costs has outstripped that, which would explain why sometimes the price is being put up in USD. Or perhaps some places just feel their product or service is worth more than before and that people will pay it.
I’m not sure if my comments are helpful, as I say, I am no expert on the economy. And Costa Rica may well be a better place to go in terms of prices, but beyond that I can’t comment. But I do believe, from a lot of experience of living here, elsewhere, and traveling the world, that Buenos Aires is on the whole, a fantastic city to live in.
All the best,
Alan
I am glad I read your post before leaving for BsAs! This is very helpful indeed. Feel more prepared and ready now.
Alan (or anyone!) – Any update on the current situation with exchanging dollars at the blue rate? I will be arriving in BsAs early next week. I checked La Nación just now and there’s no rate posted (just “$-“). Has Macri already done away with the blue dollar?
Hello Risa,
Thanks for your question, a very important one! Things regarding money changing have been quite up in the air since Macri came into power. It is true that US Dollar restrictions have begun to be lifted in Argentina, which means the old “blue dollar” as such doesn’t exactly exist anymore.
However, if you use your credit/debit card somewhere here then you will get a rate of about 13 pesos to the dollar, at the time of writing. The same for changing dollars to pesos “officially” in a bank or authorized exchange house (“casa de cambio”). But changing money in banks is often restricted to local clients only, and authorized exchange houses are no longer widely spread around the city after many years of exchange restrictions.
So, you can still go to a “cueva” and exchange dollars to pesos on the unofficial exchange market, just ask at your hotel or a local contact and they will be able to direct you to one, and at the moment you will get around 13.5 to 13.7 pesos to the dollar. So not a lot more, but still a better rate.
In conclusion, it is up to you – you could come with the plan of using mainly credit/debit cards to pay for things and withdraw cash from ATMs, and accept that you will get a slightly worse deal (especially when taking any ATM and international fees into account), but do so for the sake of convenience. Or you could bring USD cash and go to a cueva to change, making your money go a little further, but perhaps inconvenient and maybe less safe with carrying all that cash around. Whatever you prefer.
I hope that helps and that you enjoy your time in Argentina.
All the best,
Alan
Thanks for getting back to me so quickly! I lived in BsAs in 2008 so will definitely check in with friends about a reputable cueva then. My bank/ATM fees are stupidly high so I think withdrawing from the ATM there is my worst option! I’ll probably just travel with USD cash since once I get to my friend’s place I can leave the majority there day to day. Otherwise I’d rethink bringing all I’ll need in cash. Thanks again. ¡Feliz año nuevo!
Hi all.
I’m about to fly to b.a. and was wondering how the current situation is like with regards to withdrawing money from ATMs. Is there a very low limit in terms of transaction fees and how much money I can withdraw each time? Although there’s big changes happening since Macrî came into power, would it still make sense to bring in US dollars or shall I just rely on my Debit card? Bear in mind that i will be flying from the UK hence if i can avoid exhanging currency twice + carrying too much cash on my I would be happy. Cheers
Hi Paolo,
Thanks for your comment!
The transaction limit on ATMs I think varies from bank to bank, so I can’t say for sure, but I think it would be between 1000 and 2000 pesos per withdrawal, and how much in total per day would probably be up to your card issuer. The fees for each withdrawal I think are about the equivalent of 5 or 6 USD.
In terms of a recommendation of what to do, it depends on your views on cost-effectiveness vs convenience. There isn’t such a big difference in the bottom line these days, but you will still get between about 13.8 and 14 today on the “blue” market for USD, whereas with an ATM you will get around 13, sometimes reportedly lower, and also pay the different fees involved.
I hope this helps. Have a great time in BA!
Alan
Thanks for your response. Very helpful
As far as using credit cards, what is the story with using them? We are going for a week to BA and don’t want to be soaked for exchange rates but at the same time don’t want to have to walk into back alleys or carry a lot of cash.
Dear AJ,
First of all, sorry for the delay in responding. We are in our peak season showing folks around our city. Most places take credit cards (restaurants, clothing stores, and even some hippie fair stands), but not all of them and sometimes shops will hang a sign on the window indicating that they suspended credit card transactions. It’s a little unpredictable. As long as you keep that in mind, you won’t be surprised and therefore frustrated.
They should also operate on the official exchange rate. However, your best bet at getting the best exchange rate is still by bringing cash and exchanging at the cuevas. They are not as seedy as you would think. They are actually some nice ones. Your hotel should be able to point you in the right direction.
Hi,
I’m traveling from New York to Iguazu Falls (AR Side) and Buenos Aires next week Wed and I’m trying to decide how to get the best rate on pesos considering the changes that have happened in the government since Dec. Should I get currency before I arrive? Is it worth it to wait and go to the blue market? Should I just get money from an ATM at the airport when I arrive? XE Exchange is quoted the rate at 1.00 USD = 15.6024 ARS. Any advice would be greatly appreciated. Thank you!
Stephanie
Dear Stephanie,
As of today, the rate went down and dipped under $15 pesos per dollar. However, to answer the question as to what is the best way to get the most beneficial exchange rate, that would be bringing in cash and exchanging at a cueva. Yes, the government did away with the dual exchange rates (no more blue dollar), but cuevas have always been around and they will continue to be around. They do tend to offer slightly better rates. Now, if you are nervous about carrying cash, you can just use your ATM card to take out pesos. Just keep in mind that you will probably be hit with ATM fees, or foreign bank fees and some of these hover around US$6 per transaction. You could also offset the need for cash by using credit cards whenever you can. They tend to use the official rate as well.
we are traveling to argentina in a few days and staying a month or so…what is the latest on the exchange rate?….can i extract us dollars from atms…and if so how prevelent are they in smaller towns like Baraloche?
Dear John,
Currently the exchange rate is at around $15 pesos to the dollar. At the local ATM’s you can get pesos converted at the official rate, but you will probably have to contend with fees. Your absolute best bet, is still to bring dollars cash and exchange at the cuevas. The cuevas still exist and they do offer slightly better rates. You will find ATM’s at small towns, especially Bariloche which has a lot of tourism, but they ATM’s don’t expend dollars.
Hi all,
First of all this article has been extremely helpful.
I’m an events specialist and I suddenly have a client in Argentina.
Would you advise I get paid directly to an American account versus
a local bank account? If I do get paid, in the local account should it be in pesos or dollars?
And would it be wise to set up an LLC?
I plan events, so I won’t have any real estate.
Any help will go a long way.
Thanks in advance.
Dear BB,
Your best bet would be to get paid in the USA if at all possible. The banks here in Argentina are notoriously bureaucratic. Besides, if you chose to be paid in pesos you would also be getting paid in a currency that is not the most stable. While it is true that the new government has its eye on lifting currency controls, that is a process and it’s not done overnight.
Or Euros?
BB,
Yes, this would work with Euros as well.
Thanks for an extremely helpful post as heading to BA next week and so glad I read this. Also you are so responsive and detailed to everyone’s questions so great job!
Thank you so much, Frank!
I am extremely grateful.
Hi – daughter will be on term abroad in Cordoba, arriving BA, also weekend trips and Patagonia total about 4 months. Too much cash to bring – I did set her up with a US checking account where she shouldn’t be charged fees for using debit card unless she dips below $2500. Considering this – I’m thinking she should only bring about $200 dollars to start – is this OK – she’ll have to take a taxi or bus to meet up with her group – I’m understanding she can just go to ATM machine to get peso to pay for that? Any other advice would be helpful! Looks like the only place nearby to exchange money is travelex and the exchange rate is not very good – 1333.15 today.
Thanks for your comment and sorry for the delayed reply, we only just saw this. The US checking account where you won’t be charged fees for using ATMs is a great option to have (I have a similar account with TD Bank myself).
About US$200 to start is fine, I’m sure. And there isn’t even the need to go to an ATM at the start to pay for a taxi or bus from the airport, as from Ezeiza you can get either a fixed-price taxi with Taxi Ezeiza, or a shuttle bus with Manuel Tienda Leon, and both accept cards for pre-payment at their stands.
But of course, you can withdraw pesos at an ATM at the airport, or change USD to pesos at a decent rate at the Banco de la Nacion there, so there is no real need to change money to pesos before travel to Argentina.
Feel free to let us know if you have any further questions!
Best,
Alan
Traveling to BA in a couple of weeks. Your site has provided a lot of good info. My question is, are cuevas still in todays market the better option? Or is the exchange rate so close that it’s not worth it. Do you think its worth exchanging $300.00 us dollars to Pesos as a starter here in the US?
Hi Wilfred,
Thanks for your comment, glad you’ve found our website useful so far.
It depends on your priorities, but cuevas are still just – and only just – about the better option. You will get a point or two better exchange rate at them than official exchange houses, and the transaction also takes less time, usually. The rate may be slightly better again compared to exchanging abroad before you arrive here. But of course, the convenience of arriving with some pesos to start off is the most important factor for many. Not essential as you could arrive and pay for Tazi Ezeiza or Manuel Tienda Leon with a card to get into the city, and then go straight to a cueva to change money, if schedules allow.
I hope this helps.
All the best,
Alan
Your comments are quite helpful thank you. Do the Sunday flea market vendors generally accept US dollars? What about ice cream shops and lunch places. Will be in BA for 5 days in Nov.
Hello Michael,
Thanks for your question, we’re glad you’ve found this webpage useful.
Most flea market vendors in San Telmo will indeed accept US Dollars, although I can’t say that all of them will. Ice cream shops are most likely to only take pesos or credit cards, although some might take dollars. Lunch places are probably 50/50. Always good to have enough pesos and/or a credit card in case dollars are not accepted. You’ll need pesos for taxis and small stores too, in all cases.
Have a great time in Buenos Aires!
Alan
Thank you for the articles. They have been a great help!
Hello,
My wife and I have been in Argentina for six weeks – the first four in Buenos Aires. We exchanged money at the Banque Piano on San Martin just North of Sarimiento. We bypassed the Cambio promoters on Florida because of the advice on this forum – although the shopping is nice and plentiful. We have exchanged $US four times and everything was done very quickly and securely.
For those who are worried about safety..do not. We lived in San Telmo and walked 6 or 7 Km per day throughout the city and were never threatened in any manner. Take normal big city precautions – I grew up in Toronto and BA is probably safer. It is a wonderful place to visit. Fresh pasta makers, fruit and vegetables, great butchers, and fantastic outdoor Grills (Parrillas).
I just wanted to take the time to thank you for this information. Very helpful and I appreciate the time and effort you have taken to answer people’s questions for the benefit of all.
Hey Alan,
I’ll be visiting BA for the second time in January 2020. Last time I was there was for 3 months, and I relied on cambios to change dollars i’d brought with me.
Do you have any recent update/advice on what is best to do these days? I’m happy to bring dollars again but want to make sure thats the right thing to do!
Thank you very much
Hi Conor,
Thanks for your comment.
Right now, as I write, the official is at around 60 pesos to 1 dollar, while the blue is at around 70 pesos to 1 dollar. To me, that means it would be worthwhile to bring USD cash to Buenos Aires and change it to pesos at unofficial exchange houses (“cuevas”), if you’re comfortable with doing that.
Of course, this being Argentina, things change quickly, so it’s hard to say how things will be 1, 2, 3 months from now, or beyond.
Have a great time in BA on your return!
Cheers,
Alan
Thank you for the speedy reply Alan! Are these cuevas predominantly around the Florida area?
Very much looking forward to returning, and to coming on one of your tours!
You’re welcome Conor, no problem at all.
Most of the cuevas are around the Florida area, but sometimes they can be a little shady. Personally we always recommend getting a recommendation from a local for a good cueva to go to, somewhere a little further from Florida, where there are less likely to be tourist-targeted scams etc.
If you want to email us when you arrive in January we’ll be more than happy to help, both with a cueva recommendation if you need it, and a private walking tour if you decide you’d like to take one.
The best email to contact us on is [email protected]
Cheers,
Alan