Advantages of bringing cash to Argentina
Nov 7th, 2015, 02:16 AM
#1
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Advantages of bringing cash to Argentina
I'm pretty sure I had posted about this, but I can't find that thread, it was extremely useful for people coming to Argentina during the next few months.
We have a presidential election coming up in two weeks. If the opposition candidate wins, the advantages of bringing cash to Argentina may well cease to exist.
So, if you are coming to my country after mid-December, post your question on the subject here to get an update on this matter.
Have a great time in my country.
We have a presidential election coming up in two weeks. If the opposition candidate wins, the advantages of bringing cash to Argentina may well cease to exist.
So, if you are coming to my country after mid-December, post your question on the subject here to get an update on this matter.
Have a great time in my country.
Nov 7th, 2015, 10:04 AM
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Thank you, Marnie!
Unless my memory fails me, you answered in a similar way in my "vanished" thread on the subject.
Have a great time in my country and be sure to bring your credit card. LOL!!!
Unless my memory fails me, you answered in a similar way in my "vanished" thread on the subject.
Have a great time in my country and be sure to bring your credit card. LOL!!!
Nov 7th, 2015, 07:06 PM
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Thanks for posting avrooster. Do keep us up to date as things progress.
I see Argentine futures are discounting a devaluation to something like black market rate. I suppose it is a question of how quickly the central bank allow the peso to achieve its fair market rate. It is going to cause a lot of pain for Argentines initially but hopefully will benefit the people long term.
Whatever happens our plan is to return in 2016.
I see Argentine futures are discounting a devaluation to something like black market rate. I suppose it is a question of how quickly the central bank allow the peso to achieve its fair market rate. It is going to cause a lot of pain for Argentines initially but hopefully will benefit the people long term.
Whatever happens our plan is to return in 2016.
Nov 25th, 2015, 06:46 PM
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Great idea avrooster. I was recently in Argentina and was devouring all the election coverage. The country was extremely difficult for us to travel in - the blue, bringing in dollars, never using our cards, the inflation - so I'll be following with interest the changes with Macri.
Dec 7th, 2015, 12:24 AM
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Sometime after Dec. 10, the huge advantage of bringing cash to Argentina should no longer exist.
This means that you should be able to take pesos out of ATMs at the same rate available anywhere else.
It also means you should be easily able to exchange back to your currency any leftover pesos, when you leave.
But remember comparatively small (10%?) discounts for paying in cash may still be available in some places. Tourists may also find many "cash only" smaller businesses.
I´ll update the above, as required.
Have a great time in my country, but please don´t leave your CC at home.
This means that you should be able to take pesos out of ATMs at the same rate available anywhere else.
It also means you should be easily able to exchange back to your currency any leftover pesos, when you leave.
But remember comparatively small (10%?) discounts for paying in cash may still be available in some places. Tourists may also find many "cash only" smaller businesses.
I´ll update the above, as required.
Have a great time in my country, but please don´t leave your CC at home.
Dec 7th, 2015, 04:08 AM
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Thanks for the update avrooster. Hopefully your country is in for better, more stable times. I assume that the "unofficial" inflation rate remains high? I suspect that until the government get that under control the new official fx rate will continue to decline broadly in line with that inflation.
Dec 16th, 2015, 01:29 AM
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Sometime before this weekend we should know what the new exchange rate situation is.
But things should be much like I expected in my post above dated Dec. 7.
Have a great time in my town. Bring your CC and SOME cash. No need for large bills.
But things should be much like I expected in my post above dated Dec. 7.
Have a great time in my town. Bring your CC and SOME cash. No need for large bills.
Dec 16th, 2015, 01:32 AM
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Adding to the above: in fact, small bills could be quite useful for tips.
In Argentina, in a restaurant, for instance, it is customary to leave the tip in cash, instead of adding it to the CC payment.
In Argentina, in a restaurant, for instance, it is customary to leave the tip in cash, instead of adding it to the CC payment.
Dec 16th, 2015, 05:37 AM
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I am following this with great interest. It will be much easier to travel to Argentina now, without the hassle of changing money in offices of Calle Florida, but surely everything will be much more expensive, for a while, at least.
Dec 16th, 2015, 06:46 AM
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"but surely everything will be much more expensive, for a while, at least."
Quite the opposite. IF the govt. allow the currency to float (I.e. Allow the foreign exchange markets to determine the "fair" value) then it SHOULD become cheaper in foreign currency terms.
I think the big question is whether the markets will feel that the "blue dollar" rate is, in fact something close to the fair market value. Also, the govt. may decide to intervene in the markets by buying or selling their own currency to control any wild fluctuations.
We plan to return to Argentina next year and so, like you ClementineLdn I will be watching events with interest.
Quite the opposite. IF the govt. allow the currency to float (I.e. Allow the foreign exchange markets to determine the "fair" value) then it SHOULD become cheaper in foreign currency terms.
I think the big question is whether the markets will feel that the "blue dollar" rate is, in fact something close to the fair market value. Also, the govt. may decide to intervene in the markets by buying or selling their own currency to control any wild fluctuations.
We plan to return to Argentina next year and so, like you ClementineLdn I will be watching events with interest.
Dec 16th, 2015, 09:10 AM
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If you were here during the last few years as a tourist who brought cash dollars, sold them at the blue rate and paid everything with those pesos, things could be somewhat more expensive for you.
If you paid for everything with your CC, Argentina will be cheaper for you, as of tomorrow.
The "blue" exchange market should be defunct tomorrow, as far as tourists are concerned.
You will be able to use your CC to take pesos out of the ATM at a good rate, the kind of thing done in "normal" countries.
Have a great time in my country and don't forget your CC.
If you paid for everything with your CC, Argentina will be cheaper for you, as of tomorrow.
The "blue" exchange market should be defunct tomorrow, as far as tourists are concerned.
You will be able to use your CC to take pesos out of the ATM at a good rate, the kind of thing done in "normal" countries.
Have a great time in my country and don't forget your CC.
Dec 16th, 2015, 09:36 AM
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Repeating from above:
"It also means you should be easily able to exchange back to your currency any leftover pesos, when you leave.
But remember comparatively small (10%?) discounts for paying in cash may still be available in some places. Tourists may also find many "cash only" smaller businesses."
"It also means you should be easily able to exchange back to your currency any leftover pesos, when you leave.
But remember comparatively small (10%?) discounts for paying in cash may still be available in some places. Tourists may also find many "cash only" smaller businesses."
Dec 16th, 2015, 04:13 PM
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"Quite the opposite. IF the govt. allow the currency to float (I.e. Allow the foreign exchange markets to determine the "fair" value) then it SHOULD become cheaper in foreign currency terms."
As avrooster pointed out, it is likely to be more expensive than it was when the blue rate was in use. I brought dollars and changed them all to pesos when I arrived, so got much more for my money than the official exchange rate allowed. I agree that it seems likely that it will become cheaper in foreign currency terms in the long run, but I'm travelling in January, so it looks like this trip may be a lot more expensive than the last. This is something I had not considered when I made my travel plans. Oh well!
As avrooster pointed out, it is likely to be more expensive than it was when the blue rate was in use. I brought dollars and changed them all to pesos when I arrived, so got much more for my money than the official exchange rate allowed. I agree that it seems likely that it will become cheaper in foreign currency terms in the long run, but I'm travelling in January, so it looks like this trip may be a lot more expensive than the last. This is something I had not considered when I made my travel plans. Oh well!
Dec 17th, 2015, 07:30 AM
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Well, most of the exchange controls are gone.
Tourists can buy or sell cash dollars at any official exchange broker or use the ATMs.
The rate can and will fluctuate. It's somewhere around 14 right now. See: http://www.ambito.com/economia/mercados/monedas/dolar/
Your "blue" contact may or may not be around any more and may or may not give you a better price.
Have a great time in my country, bring your CC and some small bills for tips, if so inclined, or tip in pesos. Remember small businesses may give discounts for cash payment or may not take CCs at all.
Tourists can buy or sell cash dollars at any official exchange broker or use the ATMs.
The rate can and will fluctuate. It's somewhere around 14 right now. See: http://www.ambito.com/economia/mercados/monedas/dolar/
Your "blue" contact may or may not be around any more and may or may not give you a better price.
Have a great time in my country, bring your CC and some small bills for tips, if so inclined, or tip in pesos. Remember small businesses may give discounts for cash payment or may not take CCs at all.
