Newcomer Money in Buenos Aires

[jeffk]

My wife and I are planning a trip to Buenos Aires in February, and we're curious about handling our expenses. Are credit cards widely accepted? Is it advisable to carry cash? Do they take U.S. dollars?

 

[Gus]

Exchange rates in Argentina can be intricate, but with a bit of research, you can secure a favorable rate.

1. The official rate is NOT really used by tourists at all. You will never really encounter or deal with the "official rate". Currently, you can see it here: https://www.ambito.com/contenidos/dolar.html
2. When exchanging USD, aim for the "Blue Rate." This is the unofficial but legal exchange rate. Shops, some hotels, and mainly currency exchange offices ("Cambios") offer a rate of about 955 pesos to 1 USD. These offices are scattered throughout the city, especially on Floridia Street. Rates vary from place to place and day to day. New $100 bills with a large Franklin picture and a blue security strip are preferred and offer the best rate. Your dollar goes further by using the blue rate.

Western Unions provide the blue rate. You can send money to yourself via a bank transfer and pick it up at a Western Union office in Buenos Aires. You'll need the app and your passport for this option. Sometimes, Western Union may run out of pesos.

1. The credit card rate for tourists is known as the MEP. It is close, but it's advisable to use the Blue Rate. I used MasterCard and Visa while in Argentina, as they are the most common in the country. The credit card will give you the rate at the time of purchase but will refund/credit your account a few days later (check your statements).

Depending on your plans and the duration of your stay, my advice is to use your card but exchange some $100 USD bills for tips, small purchases, or when the MEP rate is low or not accepted at the places you frequent.

Enjoy the city; I loved it—great people, food, and plenty of wonderful places to explore.

 

[roland]

The exchange rate fluctuates regularly, and whatever it happens to be on any given day is what it is. What has remained consistent is that the rate is significantly divergent from the official rate. Travelers looking to maximize their currency value often find it more advantageous to exchange money at unofficial street exchanges, where the rate differs from the official one.