Changing Money in Argentina: Where to Exchange and How to Get the Best Rate

In Argentina, exchanging money can be a bit of a challenge, but with the right knowledge, you can get the best rate.

The official currency in Argentina is the Argentine Peso (ARS), and you can exchange your money at various locations, including airports, banks, and currency exchange offices known as casas de cambio.

To get the best rate, it's essential to compare the exchange rates offered by different places. According to the article, some of the best places to exchange money include banks, such as Banco de la Nación, and currency exchange offices like Cambio América Latina.

Check this out: Cours De Change Bureau De Change Tunisie

You'll need your passport to exchange money in Argentina, so be sure to have it with you.

US dollars are the preferred foreign currency, but Euros can also be exchanged without problems. Cash dollars and euros can be changed at banks and casas de cambio in most larger cities.

Avoid exchanging money in touristy areas like Caminito and Recoleta, as the rates may not be as good. Instead, head to the city center or neighborhoods like San Telmo.

If you're in Buenos Aires, you'll find plenty of exchange bureaus, known as casas de cambio, to choose from. Some popular ones include Cambio Maguitur, Montevideo cambio, and Casa de Cambio Baires.

Don't be tempted by street-tout money changers offering a better rate, as they may not be safe. It's better to stick with reputable exchange bureaus.

Some notable exchange bureaus to check out in Buenos Aires include Cambio Alpe and Cambio Maxinta, both of which are located near Plaza de Mayo.

US dollars are widely accepted by many tourist-oriented businesses in Argentina, but it's a good idea to exchange some pesos. Counterfeiting is a problem, especially in dark places like nightclubs or taxis, so be aware of fake bills.

You should look for a clear watermark or running thread on large bills and get familiar with the local currency before arriving in Argentina. Large supermarkets and restaurants are your best bet for getting change from large denominations.

Credit cards are widely accepted in larger stores, hotels, and restaurants, with Visa and MasterCard being the most widely accepted. Some businesses add a surcharge when you buy with your credit card, so be aware of that.

For more insights, see: Credit Card Bin Numbers

Xoom and Western Union offer a convenient way to send and receive money in Argentina. You can send money to yourself in Argentina and pick it up on arrival at one of their offices in Buenos Aires.

Western Union has several offices in the city, including one at Montevideo 825, which is highly recommended. Xoom works with Cobroexpress, while Western Union works with PagoFacil.

The rate at Western Union in Buenos Aires is one of the best in the city, often beating the black market rate. However, be aware that there is a transaction fee of around USD 25 per transaction per USD 500.

You'll need to bring a copy of your passport with you to pick up your money, and make sure to put your full name as it appears on your ID or passport when sending the transfer. Debit and credit card wires tend to be immediate, while bank transfers can take 4-5 business days.

A unique perspective: How to Send Money through Opay

If you're planning to visit smaller cities, be aware that Western Union locations may have limits set at under the equivalent of $200 US, and lines can be long. It's often better to cash out at the end of the day or bring cash with you.

Here are some key things to keep in mind when using Xoom and Western Union:

Using ATMs in Argentina can be a bit tricky. You'll receive the MEP rate, but be aware that bank fees can be high, averaging around U$10 per transaction.

You'll also be limited to a low amount of cash per day. If you must use ATMs, consider a bank that refunds foreign ATM fees, like Charles Schwab.

ATMs in Argentina use the official exchange rate, which means you'll get fewer pesos than if you exchange on the black market. This can result in you paying almost double the price.

Most Argentine banks charge heavy fees for withdrawing from foreign cards. So, it's best to avoid using your cards altogether to save money.

For your interest: Car Insurance through a Broker

Using a credit card in Argentina is a viable option, especially for larger purchases. Visa and MasterCard are widely accepted in most stores, hotels, and restaurants.

You can expect to be charged near the MEP rate when using a foreign Visa or MasterCard, as of late 2022. This is a major relief for travelers who don't want to carry large amounts of cash.

To confirm the rate, you can check the Visa exchange rate calculator, making sure to put ARS to USD. This applies to all foreign cards worldwide, as long as they are Visa and MasterCard.

Debit cards may also offer the same advantageous rate when used at ATMs, although this hasn't been tried yet.

Some businesses may add a surcharge when using a credit card, so it's essential to be aware of this before making a purchase.

If you're planning to use a credit card to pay for a restaurant bill, be aware that tips can't usually be added to the bill.

See what others are reading: Amazon Payments Visa Gift Card

Here's a quick rundown of the current exchange rates in Buenos Aires:

*Add bank fee, etc

**Add with Western Union and XOOM a transfer fee. Rate probably lower.

In Argentina, there are two main exchange rates to be aware of: the official rate and the blue rate. The official rate is set by the national bank and is used by ATMs and foreign credit cards. However, using these methods will result in a lower exchange rate, as they charge heavy fees and use the official rate.

The blue rate, on the other hand, is the parallel unofficial exchange rate that exists due to currency controls on the official rate. It's the most free market dollar based on demand, and locals refer to it as the "real" dollar. Currently, the spread between the two rates is roughly $1250 pesos to the dollar at the blue rate versus hovering around $950 pesos for the official rate.

A unique perspective: Health Insurance Broker Commission Rates

To get the best exchange rate, you should try to exchange your foreign currency at the black market rate. This will give you more pesos for the same amount of foreign currency. However, be aware that exchange rates can change constantly, and it's essential to check the current rates regularly.

If you prefer to exchange your money at an official place, you can find official exchange bureaus, called Casas de Cambio, at the airport or in the city center. They will offer you an exchange rate around the official rate, but you won't take advantage of the black market rate.

To exchange your money at the black market rate, head to downtown Buenos Aires and look for the area around Florida Street. You'll hear people shouting "cambio, cambio" (exchange, exchange), and you can compare rates and find the best deal.

Here's a summary of the exchange rates you can expect:

Remember to always check the current exchange rates before making an exchange, and try to get the highest exchange rate possible to get more pesos for your money.

Argentina has the official currency, the Argentinian Peso, which is often denoted with the same sign as the dollar, $, differentiated as U$100 vs $100 [Pesos].

The peso is not free floating with the market, and the government has put strict currency controls in place, like freezing the official value of the peso at an artificial rate.

Many Argentines have a love affair with the US dollar, and a volatile economy pushes them to invest in dollars as a way to keep their savings stable and safe from inflation.

The government limits how many USD Argentina citizens can purchase from the bank each month, which creates a parallel exchange rate, referred to as the blue dollar.

On a similar theme: What Is the Currency Used in Argentina

Argentina is a country with a complex relationship with its official currency, the Argentinian Peso. The peso is often denoted with the same sign as the dollar, $, but is differentiated as U$100 vs $100 [Pesos].

The official value of the peso is not free floating with the market, and instead has been artificially controlled by the government. This is due to a volatile economy that pushes many Argentines to "invest" in US dollars as a way to keep their savings stable and safe from inflation.

The demand for dollars creates a parallel exchange rate, referred to as the blue dollar. This exists even when the official rate is controlled, and is driven by the black market for undeclared and "non-taxed" money.

Cuevas, or unofficial currency exchange houses, are a common sight in Argentina.

You'll find them all over the country, so it's worth knowing how to find a trustworthy one.

Asking your hotel, Airbnb hosts, or tour guides is a great way to get a recommendation.

They're often hyper-local, so they'll know the best cuevas in the area.

It's also worth noting that having physical cash on hand can be a lifesaver in tiny towns miles from a Western Union office.

In Argentina, the quality of US dollars matters, so make sure you have crisp, unmarked, untorn one hundred dollar bills.

For more insights, see: Find a Wealth Manager

Argentina has a complex exchange rate system, with multiple rates available to tourists and locals alike. The official exchange rate, set by the national bank, is around 1020 pesos to the dollar at the time of writing.

You may have heard of the blue dollar, which is the unofficial exchange rate that runs parallel to the official rate. At the time of updating this, the spread between the two rates is roughly $1250 pesos to the dollar at the blue rate versus hovering around $950 pesos for the official rate.

The blue dollar can be found on Florida Street, where you can exchange your money for a better rate. The rate on Florida Street is around 1200 pesos to the dollar, which is significantly higher than the official rate.

If you're using a credit card or Western Union, you may be able to get a better rate. The MEP rate, which is used by Visa and Mastercard, is similar in value to the blue rate. Western Union's rate is around 1191 pesos to the dollar, which is also a good option.

For more insights, see: Ifsc Code of Ubi

Here's a summary of the current exchange rates in Buenos Aires:

* Add bank fee, etc

** Add with Western Union and XOOM a transfer fee. Rate probably lower.

If you're planning a trip to Argentina, you'll want to know about the local currency exchange rates. Argentina uses the Argentine peso, and you can find the current exchange rates in my previous post about exchange rates in Argentina.

Argentina has a rich cultural heritage, and you can experience it firsthand by attending a traditional tango show. The country has a long history of tango, and it's a big part of Argentine culture.

If you're interested in knowing more about the history of currency exchange in Argentina, check out my previous post about exchange rates in Argentina. This will give you a better understanding of the country's economic situation and how it affects tourists.

Expand your knowledge: Does Heloc Rates Change

Calle Florida is a pedestrian street in downtown Buenos Aires that's always busy with shops and cafes. It's a hub for unofficial currency exchange representatives called Arbolitos.

Exchanging money with Arbolitos is very common and can be done with no trouble, but it's not my preferred method. You'll need to trust that you're not being given counterfeit notes or that they're not alerting a buddy outside to rob you.

If you do decide to go with an Arbolito, start with a small amount and go from there. If they prove trustworthy, you can always go back again for more.

You can exchange dollars or euros for Argentine pesos without any problem or restriction.

Be aware that there's a restriction on exchanging Argentine pesos back to dollars or euros, with a maximum of 100 dollars per person.

This means you can only exchange a limited amount of pesos back to your original currency after your stay.

If you have pesos left over, you can exchange them back to dollars or euros, but be mindful of the 100 dollar limit per person.

If this caught your attention, see: B of a Mobile Banking App

Calle Florida is a pedestrian street in downtown Buenos Aires that's always busy with shops, cafes, and unofficial currency exchange representatives called Arbolitos.

The name "Arbolitos" comes from the green dollars, aka leaves, that these representatives specialize in exchanging.

Exchanging money with these Arbolitos is very common, but it's not my preferred method.

You'll have to trust that you're not being given counterfeit notes or that they're not alerting a buddy outside to rob you.

Start with a small amount and go from there, and if they prove trustworthy you can always go back again for more.

The benefit of Calle Florida is being able to negotiate your rate, so don't be afraid to shop around and push for a better deal.

If you don't like what one Arbolito offers, just saunter on to the next guy and see what they have to say.

Keep in mind that these Arbolitos work for a bigger boss, so be in a strong position to negotiate and don't take the first offer.

The Dollar Blue, a bigger operation, will give a better exchange rate for notes of USD 100 or €100.

Recommended read: Swift Code Wells Fargo Bank Florida

When exchanging money in Argentina, be aware of the types of bills that are accepted. You'll want to bring only 100 dollar bills that are crisp and unmarked to avoid getting a lower rate or being rejected altogether.

Many ATMs in Argentina charge high fees, but some chains like LINK tend to have smaller fees than others. Look for the LINK sticker on the bank windows to save some money.

To minimize fees, consider using a credit card that returns ATM fees, such as Charles Schwab. This can help you avoid getting hit with high charges.

To avoid getting stuck with excess cash at the end of your trip, try not to exchange too much money at once. Instead, spend your pesos as you go and avoid exchanging them back into dollars at the end of your trip, when you'll likely get a low rate.

Here are some tips for managing your money in Argentina:

Keep small change on hand and break large bills whenever possible, as many smaller merchants may lack change or be unwilling to break large bills for small purchases.

Check this out: Small Business Health Insurance Broker California

When exchanging money in Argentina, it's essential to be prepared. Bring only 100 dollar bills that are crisp and unmarked, as many exchange centers and ATMs reject or offer lower rates for damaged or written on bills.

If you're exchanging cash, it's a good idea to review every single bill with a teller before exchanging it. This may make you feel suspicious, but it's worth it to avoid getting a lower rate or having your bills rejected.

If you need to use an ATM, look for the LINK sticker on the bank windows, as these ATMs tend to have smaller fees than other chains like Banelco.

It's also a good idea to bring a credit card that returns ATM fees, such as Charles Schwab, as fees in Argentina can be high.

To avoid getting stuck with excess cash at the end of your trip, try not to exchange too much cash. Instead, spend those pesos as you go.

To make small purchases, keep small change on hand and break large bills whenever possible. Many smaller merchants lack change or have anxiety around breaking large bills.

Additional reading: Good Money

Cuevas in Argentina are often illegal businesses with little control, and scams are common. There are many stories of these places trying to scam foreigners.

The most common scam involves giving people fake notes or mixing fake notes with real ones. This is a serious issue that travelers should be aware of.

Some cuevas may seem legitimate, but it's essential to be cautious. Everything may go fine, but it's better to be safe than sorry.

If you don't want to risk it, exchanging via Western Union is a good alternative. It offers a similar rate and is a safer option.

If this caught your attention, see: Money Changing Scam

Returning to your home country can be a complex process, but being prepared can make a big difference.

It's essential to verify the current exchange rate in Argentina before converting your Argentine Pesos back into your home currency.

You may need to secure a small amount of cash to kickstart your return trip, so it's a good idea to have some local currency on hand.

Not all hotels in Buenos Aires provide currency exchange services, so it's best to check with your hotel in advance.

Comparing the hotel's offer with the current exchange rate will help you make an informed decision about where to exchange your money.

Check this out: Currency Money

The current situation in Argentina is complex when it comes to exchange rates. There are multiple rates in play, including the official rate, the parallel unofficial rate (also known as the "blue dollar"), and rates used by credit cards and Western Union.

The official exchange rate is set by the national bank and is currently around $950 pesos to the dollar. However, the blue dollar rate is significantly higher, currently around $1250 pesos to the dollar.

Here's a breakdown of the current rates:

Keep in mind that these rates can fluctuate and vary depending on the source and time of exchange.

Javier Milei took office as the new president of Argentina on December 10, 2023, with a promise to dollarize the economy.

His first action was to devalue the official currency from 366 pesos to 800 pesos to the dollar.

Prices in Argentina have been increasing every single day since he took office.

Locals are feeling the pinch as they try to get to the end of the month.

Visitors on vacation will also be affected, but not as hard as the locals.

Expect things to get more expensive, but by how much is hard to predict.

For another approach, see: What Is Hard Money Lenders

Online Services can be a convenient option for exchanging money in Argentina. You can use online currency exchange services like Western Union, Azimo, and Xoom.

These services allow you to exchange your money from the comfort of your own home, which can be a big advantage when traveling. You can even schedule the exchange for a specific date and time.

One thing to keep in mind is that online services may have fees associated with them. It's a good idea to research and compare fees before making a decision.

Using online services can also give you more control over the exchange rate, which can be beneficial if you're trying to get a good deal.

Online Services are a convenient option for exchanging money in Argentina. You can use online currency exchange services like Western Union, Azimo, and Xoom.

Using online services can save you time and effort, especially if you're not familiar with local exchange bureaus. They often have competitive exchange rates and fast transfer times.

Western Union, Azimo, and Xoom are well-established online currency exchange services that can help you send and receive money in Argentina. They usually have a user-friendly interface and 24/7 customer support.

These online services often allow you to track the status of your transfer and receive updates on exchange rates. This can give you peace of mind and help you plan your trip accordingly.

Only exchange a small number of Argentine pesos at a time, it's better to do it in smaller amounts to avoid any potential issues.

There are two parallel exchange rates in Argentina: the official and the blue rate. This means you'll need to navigate which one to use.

Always try to exchange your foreign currency at the closest to the black market exchange rate as possible, it's like finding the best deal on a product.

Avoid using ATMs and foreign credit or debit cards in Argentina, trust me, you don't want to deal with the hassle and fees.

To get the best exchange rate, use online exchange services such as Western Union, Azimo, and Xoom, or exchange at physical black market exchange bureaus.

If you're exchanging at the bureaus, bring either US dollars or Euros, and make sure to bring 100 USD bills, it's like having the right change for a vending machine.

Here's a quick rundown of the exchange services you can use: