In recent years, travelers and locals alike have struggled to navigate the complicated system for exchanging the Argentine peso for foreign currency. The legal restrictions on how much money was exchanged and at what rate led to the creation of a parallel, black market exchange rate, known as the Argentina Blue Dollar. Travelers could take advantage of this parallel rate by bringing their foreign currency in cash and changing it in unofficial exchange houses or on the street. It was not uncommon for this exchange rate to be nearly double the official Argentina exchange rate. However, a change of government has changed this policy, and the official rate is now based on supply and demand, effectively bringing an end to the era of the Argentina blue dollar.
Where can I get the best Argentina exchange rate?
Since the official rate and the black market exchange rates are now both based on supply and demand, there is virtually no difference between the two. Given the risk of receiving counterfeit bills and other safety risks when exchanging money on the street, there is no benefit to exchanging money in this way. Hotels and other places of business may offer to exchange your foreign currency for Argentine pesos, but they offer you a much less favorable rate than the official rate.
Given that the official rate is now the most competitive Argentina exchange rate on the market, the best place to exchange your money is actually in the bank! Many travelers choose to exchange their money upon arrival to Argentina at Banco la Nacion in the Ezeiza Airport. You can also take money out of any ATM at the official rate, but be aware that there are limits on how much money you can take out at a time, and you may be charged expensive withdrawal fees.
For more information on the Argentina exchange rate and on exchanging money in different cities in Argentina, take a look at our travel guides. To start planning your Argentina trip, contact our travel advisors at Say Hueque Argentina Journeys!
Written by Michelle Lenze