Newcomer Visa Exchange Rates

[Sal P]

Has anyone observed the decrease in exchange rates for Visa credit cards, going from over 1 USD = 800+ ARS to the current rate of 1 USD = 374 ARS? We'll be traveling to Buenos Aires in two weeks, and I'm considering whether to use my credit card or bring cash to take advantage of the more favorable rates.

 

[jeffk]

Where are you getting this information?

According to the Visa webpage, the MEP (Market Exchange Rate) is currently at 960 today.

Currency Converter - Exchange Rate Calculator

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

Yesterday evening, the new government adjusted the official ARS rate to 800, effectively doubling it from the previous 380. Expect various things, including rates and prices, to be quite volatile in the coming weeks. It might be a prudent idea to bring USD cash, as it has traditionally been a reliable choice in Argentina.

 

[Sal P]

I saw this in the calculator, when I enter 1USD to ARS on this site, it gives me a conversion of 1USD=366.50 ARS.
Not sure where you're seeing 960.

 

[jeffk]

Yes, I'm also checking the same information, and I'm observing 960 for USD and 1033 for Euro on the Visa webpage.

It's unusual that we're seeing different rates.

 

[Sal P]

It's unusual. The discrepancy might be due to my location in the US, as exchange rates can vary based on geographic locations and the sources providing the information.

 

[Drjosh]

I'm in the US, and I'm also getting a rate of 960 on the Visa calculator.

I recently made some purchases on Argentine websites in ARS with a Visa, and the rate was similar (though it has changed slightly since then).

On the Mastercard site, I'm seeing a rate of 935.
https://www.mastercard.us/en-us/personal/get-support/convert-currency.html

I'm not sure why there would be a discrepancy in what you're observing.

 

[Christo]

The reason is that you have to input the Argentina currency to USD. You're doing it the other way around.

 

[Sal P]

That's precisely the issue! Thank you for highlighting it.

 

[StatusNomadicus]

when I enter 1USD to ARS on this site

this site is broken from USD to ARS, as others have said, the only way to get anything accurate from the Visa website is to type in your Pesos cost, and get the USD cost to your credit card, with the ~960 rate @Christo mentioned appearing at the bottom. for estimating the exchange rate more quickly, use the https://www.ambito.com/contenidos/dolar.html site to glance at it, but I still haven't found an easy way to look it up. There's an ARS-USD app on my iPhone for rough conversions.

this is but one of the "things you just have to know" - like how locals will pay less Pesos for a $100 USD bill that has any sort of crease or marking. but you'll be good if you read this forum! standby for my real-world credit card rate later tonight: https://www.expatsba.com/threads/ar...shock-measures-bloomberg.407/page-2#post-2284

 

[BA Bound]

Thank you! I was making the same mistake putting it the reverse! This site is very helpful.

 

[Che Vos]

Thank you! I was making the same mistake putting it the reverse! This site is very helpful.

Foreign tourists don't forget you get a GREAT exchange rate now. My mother uses her Spanish credit card. The effective rate yesterday was about 940 pesos to $1 USD. All without the hassles of going to Western Union.


She paid for lunch 2 days ago and we ate a lunch special at a small neighborhood bistro. 2 main course - special of the day roasted chicken, 2 empanadas, 1 glass of wine and 2 bottled waters for only $14 US when converted to her credit card.

I laugh when people try to say same prices as USA food!

 

[Wally]

FYI today it was 817 pesos to $1 US using my Visa card the grocery store.

Currency Converter - Exchange Rate Calculator

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

 

[Soytoy]

FYI today it was 817 pesos to $1 US using my Visa card the grocery store.

Currency Converter - Exchange Rate Calculator

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

Yes, that is the same rate I got using my card today. I think it's still very convenient to use a credit card vs. having to deal with Western Union.

 

[StatusNomadicus]

817 pesos

i'll try again for late dinner tonight (fasting today a little), but 11pm last night my MasterCard gave 917, so it would be very crazy if within a few hours it gave 11% less! https://www.expatsba.com/threads/ne...llarization-is-a-fantasy.406/page-2#post-2886

(it was just 960, four days ago when i started recording the real-world credit card rate) https://www.expatsba.com/threads/ar...shock-measures-bloomberg.407/page-2#post-2415

 

[Wally]

i'll try again for late dinner tonight (fasting today a little), but 11pm last night my MasterCard gave 917, so it would be very crazy if within a few hours it gave 11% less! https://www.expatsba.com/threads/ne...llarization-is-a-fantasy.406/page-2#post-2886

(it was just 960, four days ago when i started recording the real-world credit card rate) https://www.expatsba.com/threads/ar...shock-measures-bloomberg.407/page-2#post-2415

Oh wow! That is a huge difference. But I think I see the goof. I think I used another credit card that charges a foreign transaction fee. My goof. I usually use my Chase Sapphire Reserve but I used a card that charges fees. But I wouldn't think the forex fee would be so big would it? @StatusNomadicus I assume you're not using a card that has forex international bank fees? Please post back what you are getting.

Also, is the exchange rate on this site supposed to match the websites in Buenos Aires?

Dólar hoy, cotización del dólar, precio del dólar, dólar blue, precio histórico del dólar, valor del UVA | Dolarito.ar

Seguí la cotización del dólar minuto a minuto, compara cotizaciones, visualiza los valores históricos, conocé el precio del dólar, evolución del valor UVA

www.dolarito.ar

and Visa's site? Or are they just totally off.

Currency Converter - Exchange Rate Calculator

Exchange Rates & Currency Conversion Calculator - Use the converter to get an indication of the rate you may receive when using your Visa card. Learn more.

usa.visa.com

 

[Soytoy]

i'll try again for late dinner tonight (fasting today a little), but 11pm last night my MasterCard gave 917, so it would be very crazy if within a few hours it gave 11% less! https://www.expatsba.com/threads/ne...llarization-is-a-fantasy.406/page-2#post-2886

(it was just 960, four days ago when i started recording the real-world credit card rate) https://www.expatsba.com/threads/ar...shock-measures-bloomberg.407/page-2#post-2415

I just charged today and I got over 900 so I think there has to be some mistake.

 

[StatusNomadicus]

@Wally oh no, cancel all your cards with foreign tx fees, that sh*t is criminal! my gf uses the Chase Sapphire, and i use an American Airlines (Citi) mastercard - no Tx fees. i use www.nerdwallet.com and www.millionmilesecrets.com and only have cards that don't screw me over. but yes, sometimes they charge 3% foreign fee, but maybe that card also gives a bad Peso rate? regardless, you should be getting over 900 like Soytoy said (but why did you get 817 earlier, Soytoy??). i'm gonna update every morning, though i think i have been posting in 2 different threads. oops. maybe i'll find some way to put it in a fixed place like https://twitter.com/ValorDolarBlue/

regarding your links, i still have no idea how to find the exact one. the "Tarjeta" and "Blue" numbers never match what my real-world spend ratio is. i just take my receipt in Pesos and divide it by the posted Dollar amount on citi.com and then i show you guys every morning (from the night before...i'm not a robot!)

i'm expecting to get at least 900 tonight, when i get some more grub. but i'll let ya know in the AM. night, amigos!

 

[Soytoy]

@Wally oh no, cancel all your cards with foreign tx fees, that sh*t is criminal! my gf uses the Chase Sapphire, and i use an American Airlines (Citi) mastercard - no Tx fees. i use www.nerdwallet.com and www.millionmilesecrets.com and only have cards that don't screw me over. but yes, sometimes they charge 3% foreign fee, but maybe that card also gives a bad Peso rate? regardless, you should be getting over 900 like Soytoy said (but why did you get 817 earlier, Soytoy??). i'm gonna update every morning, though i think i have been posting in 2 different threads. oops. maybe i'll find some way to put it in a fixed place like https://twitter.com/ValorDolarBlue/

regarding your links, i still have no idea how to find the exact one. the "Tarjeta" and "Blue" numbers never match what my real-world spend ratio is. i just take my receipt in Pesos and divide it by the posted Dollar amount on citi.com and then i show you guys every morning (from the night before...i'm not a robot!)

i'm expecting to get at least 900 tonight, when i get some more grub. but i'll let ya know in the AM. night, amigos!

No it was a typo. I meant 917 but too much time passed and I could not edit it. I read @Wally's post wrong and thought it said 917. My bad. Is there any way to edit the post? I was drinking a glass of wine and I spelled it all over the table so I was distracted. @StatusNomadicus thank you for the links. I just found out about the differences of all these credit cards.

I have been coming to Argentina for over 12 years but I am a bit careless and did not pay attention but a friend told me about https://boardingarea.com/

Now I am trying to get points and miles on everything. Thank you for your informative posts.

 

[Crossfit Junkie]

@Wally oh no, cancel all your cards with foreign tx fees, that sh*t is criminal! my gf uses the Chase Sapphire, and i use an American Airlines (Citi) mastercard - no Tx fees. i use www.nerdwallet.com and www.millionmilesecrets.com and only have cards that don't screw me over. but yes, sometimes they charge 3% foreign fee, but maybe that card also gives a bad Peso rate? regardless, you should be getting over 900 like Soytoy said (but why did you get 817 earlier, Soytoy??). i'm gonna update every morning, though i think i have been posting in 2 different threads. oops. maybe i'll find some way to put it in a fixed place like https://twitter.com/ValorDolarBlue/

regarding your links, i still have no idea how to find the exact one. the "Tarjeta" and "Blue" numbers never match what my real-world spend ratio is. i just take my receipt in Pesos and divide it by the posted Dollar amount on citi.com and then i show you guys every morning (from the night before...i'm not a robot!)

i'm expecting to get at least 900 tonight, when i get some more grub. but i'll let ya know in the AM. night, amigos!

Thank you @StatusNomadicus !!!

Your posts are helpful and gives us newbies reassurance how things will be. It sounds like things are constantly changing there. The hotel told me that the rate should keep improving for me with my American credit card. I hope so!

I will look out for your great posts.