Blue rate
 

I've read a lot about bringing US dollars to Argentina to exchange for the blue rate, but exactly how does one go about that in Buenos Aires? I will be entering Argentina after 10 days in Chile, but my husband and son will be joining me, flying directly from the US, so they could bring the necessary US dollars. But, it seems at least a little dangerous to be carrying so much US cash and then Argentinean cash. We will be in Buenos Aires for a couple of nights and in El Calafate and El Chaten for 5 nights. We are using points to stay at the Hilton in BA, but have booked the other hotels through an internet hotel reservation service. Has anyone had experience confirming the reservation and cash payment directly with hotels in these town and then cancelling the internet reservation? Thanks in advance for any help and comments.

Kilgore97:

I suggest you read my post

http://www.fodors.com/community/sout...omment-8410892

and other comments in that thread.

Getting that nearly 40% off obviously comes at a price, which is the obvious risk of carrying cash.

The general rule is, repeating myself over and over, that any place which accepts payment via CC will most gladly accept cash pesos and may even give a discount.

Furthermore, I'd say you could CALL the hotels, telling them you have an Internet reservation and they should be quite happy if you reserve directly with them and cancel your Internet reservation.

A forum "lurker" recently paid his hotel in cash. He'll be back in the US next Monday.

I'll try to talk him into posting about his experience in this respect in a trip report.

Have a great time in our country with yout DH and DS, Kikgore 97.

Where are you staying in El Calafate... i am looking for a luxury/active place for a week in December.

I brought in a few g's on me after spending 2 weeks in Brazil first (which I was more scared of being robbed than in Argentina). I simply used one of those money belts with the zipper and a few hidden pockets with travel clothes from Scottevest (they have some cool stuff I recommend you check out).

I stayed in BA in an apartment via Airbnb and asked my landlord about the blue rate. Everyone in Argentina has a "money guy" and my landlord's came right on over to the apartment and did the exchange. Of course now I had a HUGE stack of pesos but thankfully there was a safe in the apartment. The fact that you will be with 2 other people, I would just split everything up between you guys and get money belts, put some in your shoes, different pockets, and keep some in your bags. Etc. If you do get jacked then at least you don't loose it all. Diversify if that makes sense.

After a week in BA I bussed over to Bariloche and was a little terrified about getting robbed or someone losing my now huge stack of pesos on the ride there. I just simply paid attention to my surroundings and everything was fine. But as the previous poster mentioned, if you want to the blue rate, it comes with the risk of having a ton of cash on you. Another idea might be to only exchange a little bit at a time so that you have a smaller stash of USD thus more "manageable" than having a huge stack of pesos. Believe me there are money changers everywhere in that country.

Lastly, don't exchange it all, make sure to keep a few emergency $100's - you never know what will happen and those Ben Franklins can get you out of a jam! Oh and make sure they are clean and crisp with no rips or tears - they will reject those even though you and I think they are perfectly normal.

Have a great time!

All excellent advice from posty yore securing your cash in various places.

We were in Salta province a couple of weeks ago en route from Bolivia to Chile and exchanged using the blue rate in Salta town. There is. A street there where all the fx gut pays hang around. We took the advice of a friend and exchanged with a guy recommended in a cafe with no problems. Just out of interest I checked the rate in the official Cambio office in the same road and the rate was only slightly worse ( 9.0 v 9.1).

We found out later that the police and security services had a crack down a few weeks previously and and arrested all the exchangers and there clients!! So keep you eyes peeled!!

Worth noting that when we had surplus pesos left over we went back to the same guy and exchanged at the same rate which was an expected bonus.

We did hear reports of some exchangers slipping a few counterfeit notes in so do check. There are a number of websites which will tell you how to spot a fake.

Also worth noting that some smaller establishments were happy to accept dollars in payment at the blue rate.

We are arriving in December on a Saturday around 11:00 and then departing on Sunday for Patagonia. Will I be able to find a reputable person, not someone on the street corner, to exchange on Saturday at some time. avrooster, will you be around? :)

odie1: I thought it wasn't possible to do "blue" exchange business on a Saturday, but I recently discovered a "respectable" (LOL) place where it can be done, until 2 PM.

The people who went there will be back in the US on Monday (as I said above) and I'll try hard to talk him (he is a "lurker", not a poster) into writing a trip report, including his "blue" exchange experiences. He also exchanged dollars in Iguazú, but I told him he would get a bad rate and he did.

Ask me again about this later on.

Have a great time in our country with DH & DD, odie1!

will do avrooster, thank you!

I just procured some crisp bills in preparation for my trip. I have to say that it is a bit disconcerting taking a wad of cash to a destination famous for its muggers and pickpockets.

crosscheck: I strongly object to your description of BA as "a destination famous for its muggers and pickpockets."

I have lived in BA or its suburbs for almost 73 years and have NEVER been mugged or pickpocketed. But then, I know what I'm doing. LOL!!

On the other hand, when I first traveled internationally, in 1979 and landed in JFK, I paid the cabbie for the ride into Manhattan with a 20 dollar bill (yes, you guys have inflation, too) and he said I had given him a TWO dollar bill.

My reply was: "I may be a tourist, but I'm not stupid" and asked the Pierre's porter to call the cops. The cabbie drove off as fast as he could and I kept the two dollar bill. LOL!

If you just follow the simple (and obvious) safety advice I have given over and over again in these pages, chances overwhelmingly are that you'll have no trouble at all.

In a nutshell, it all boils down to "don't make yourself a target".

What I mean is that, if you stumble out of a tango show, at 2 AM in an intoxicated condition, flashing large amounts of cash and with a diamond-studded Rolex on your wrist, there is a chance you'll be relieved of both the cash and the Rolex, particularly if you board one of the cabs waiting in line outside the tango place. I have always suggested avoiding cabs waiting outside touristy places and instead having a radio taxi CALLED for you.

Have a great (and perfectly safe) time in my town.

Thanks for the tip! I guess I will leave my diamond Rolex at home :)

Oops, posted too soon. It wasn't my intention to "dis" your city. I was just commenting on the irony of having to travel with crisp $100 bills.

I know there is crime everywhere and that statistics are often exaggerated. (We live in the LA area and Europeans often ask how we could raise children in the land of drive-by shootings.) And as a native New Yorker, I apologize for the sleazy cab driver. Hope Bloomberg has taken away his medallion!

I heard from a good source that you often wear TWO of those.

Leave BOTH at home. LOL!!!

Well, in a way, our pickpockets ARE famous.

Years ago, they stole the purse belonging to one George Bush's daughters under the nose of your Secret Service. LOL!!!

I was there a month ago and rates were all over the place. The hotel gave us the official rate (5.8). If we paid with USD in restaurants they were giving us up to 8. If you find an exchange house on Florida or somewhere else you can get between 8 and 9. And if you know someone, they will buy them from you for just over 9. It is a good time for the USD in Argentina right now. Bottom line is it depends what you need the money for. If you are shopping, take dollars and see what you can get. If you know the place only takes pesos, try to exchange beforehand for the best rate you can find.
BA is like any other big city, you just have to use your head. Do they have pickpockets? Of course. As does Rio, Sao Paulo, Lima, Mumbai, Delhi, NYC, and any other big city in the world. Don't be flashy, don't show lots of cash in public, and don't walk around with your new iPhone stuck to your ear. It is one of my favorite cities in the world. Have fun.

Just arrived in Santiago after a glorious but short visit to Buenos Aires - I'm in love with the city and felt completely safe at all times, including during repeat visits to various exchange places. Highlights were a 7-hour bicycle tour, a private tango experience and...a fantastic dinner with the famoso av and family. Will post details in a mini trip report soon.

http://www.ieco.clarin.com/economia/...011498874.html

Sorry, only in Spanish. Maybe the Buenos Aires Herald will publish an English version.

It says that THE GOVERNMENT estimates 2/3 of the dollars spent by foreign tourist are sold in the "blue" market.

Have a great time in our country, at 40% off.

Thanks for that link, av. I found the comments from readers very interesting. I am in Santiago now and there is much discussion here about the blue rate and the Argentine economy. An Embassy official who I met (from a European country) mentioned that his driver offered him a rate of 9.3 as soon as he arrived in BA, assuming the official had dollars, even though the driver knew he was not American.

Many Chilenos are crossing the border for massive shopping sprees with dollars they get in Chile. Some Brits who I met paid 45% more for the same hotel where I stayed because they hadn't been tipped off. (thanks again, av).

I don't know a lot about global economics, but I find the situation fascinating and scary - On one hand I want to return and indulge in more cheap dinners and bargain purses. And on the other I'm not sure I want to contribute to what is sure to be a financial disaster.

Hi, crosscheck!

IMHO, by spending with your credit card, you are helping the most corrupt of all the corrupt governments we have ever had.

By spending cash pesos, you are (in a way) helping the people who have to suffer such a government.

So, come and enjoy our country at 40% off, while this discount is available and "Don't cry for me, Argentina!"

"I'm not sure I want to contribute to what is sure to be a financial disaster." You are not contributing crosscheck. In fact, if anything you are helping the argentine people. The (increasing) demand for hard currency comes from ordinary argentine people wanting to protect the value of their savings and avoid the dire consequences of the massive abrupt devaluation of the currency seen a decade ago.

I do question however , given the appalling behaviour and apparent ecompnomic incompetency of US politicians in recent days, whether the Argentine people would be better off buying Euros than dollars?

What is your prediction Avrooster. Another "official" devaluation at some point, a change of government .

After our mid-term elections on Oct. 27, some kind of covert devaluation is likely.

One thing they may do is institute a "tiered" exchange rate.

So, this means, for instance, one exchange rate for exports, another for imports and still another for tourism. We have had this kind of thing before, many times.

So, that's why I say above "enjoy our country at 40% off, while this discount is available".

Let's see if I can explain myself with an example:

Say you go right now to a hotel which costs 1.000 pesos a day. AT THIS TIME, this is about 172 dollars and that is what it will cost you, if you pay with your CC. If you pay with cash pesos obtained by selling dollars in the "blue" market, it would cost you ABOUT 105 dollars, (using a 9,50 rate of exchange) which is the 40% discount I am talking about all the time.

But if they institute a "tourist dollar" worth let's say 7,50 pesos per dollar, the hotel would cost you 133 dollars if you pay with your CC and still 105 dollars assuming the "blue" market remains at the same level, which may or may not be the case. So the "discount" would fall from 40% to about a little more than 20%, which would make bringing cash less attractive.

Comprenden (understood) ???????????????

crellston: I forgot about your "a change of government".

Yes, sure, for better or for worse! LOL!!!

When they leave, I may even celebrate by gorging myself on a large boiled egg salad! Sorry, private joke!

Thanks for the explanation Avrooster. Seems like some of your politicians could do with a few lessons in basic economics ( but I guess that applies to politicians in almost every country! ). A system of tiered exchange rates seems like a bizarre way of "sticking a finger in the dyke" to hold back the inevitable tide of market forces which inevitably win in the end. I heard Christina is off sick at the moment, maybe someone will see sense in her absence...

Just returned home.

crellston, to answer your question about euros, these seemed to be as much in demand as dollars at the blue cambio places. FYI - I got a better rate - 9.7 -on small bills ($20s and $10s) than on $50s and $100s (9.5).

One piece of advice is to not exchange too much. I ended up with extra pesos and felt forced to go on a duty-free spending spree in the airport at 6:30 am.

BTW, there are discounts in Chile for paying with US dollars as well...not as substantial, but up to 20% for hotels (my hotel was paid for by my employer, but I heard this from other travelers). I also received a discount for paying for my wine tour in US cash.

I'm about to go on yet another trip, but will provide a mini-trip report next week...bike tour, tango tour and, of course, dinner with av, the national treasure. BsAs is absolutely awesome and I also discovered some new places and activities in and around Santiago.

Some comments and questions, crosscheck:

1) Yes, of course euros are in demand too, but the question is at what price? I still believe it is better to bring dollars, because the euro quoted in dollar terms often is lower here than internationally.

2) Did you get a better rate for small bills versus larger dollar bills at the same time and at the same place? I have a hunch the answer is NO. If my hunch is correct, the comparison is not valid.

3) I have always suggested not exchanging more dollars than the amount you know you will spend. Should you happen to have pesos left over, you can buy back dollars wherever you sold them or spend the pesos at the duty-free shop, as you did. Before you leave, do whatever you have to do to get rid of any pesos you have left!

4) About the duty free shop, can you confirm whether or not they still take cash pesos in payment for dollars at the official rate (about 5,80)? Of course, this means that you get my often-mentioned 40% off there too.

Let's hear from you next week, crosscheck and get back here ASAP, but this time with your DH in tow, LOL! Your kids are obviously welcome too!

However, flights may be expensive, because we Argentines are booking flights abroad like crazy, to take advantage of the low official dollar, while it lasts. I have NEVER planned ahead much, but this time I'm in the process of booking a flight to NY for June. Cost: about 650 dollars, R/T.

Have a great time in my country.

Answers, as much as I can remember - I was in heaven w/ the art and culture rather than thinking about money. I do wish I had had time for more shopping though.

1) I think the Euro exchange rate was 13 at the place recommended by my hotel, but not certain.

2) Yes, there was a better rate for small vs large $ bills at the same place. Written on a sign.

3) Yes, they took pesos (cash) at duty free. Can't remember the rate - It was VERY early in the morning. But the duty free prices were high, so as I said, I recommend not exchanging too much money. My taxi driver to the airport asked to be paid in dollars ($20 - a fabulous deal), which is why I had extra pesos.

4) WILL be back, sooner than later. My son is considering doing his semester abroad in BsAs. And I'm now obsessed with Patagonia. This time my trip was free as a stop on my way to work in Santiago, but we've always had good luck getting award tickets to S. America.

Enjoy NYC, my home town!

Don't want to hijack this thread but crosscheck- would love to hear about some of your favorite things in Santiago as we will be there for three nights and Patagonia as well.

Thank you, crosscheck!

2) Very strange, but if you say so.... It is even more strange that anything related to the "blue" rate was IN WRITING???

4) Our Patagonia is great! The season is from about mid-Oct. until mid-April. The best time probably is mid-Nov./mid-Dec. From January until mid-Feb., some areas could be crowded with vacationing locals. Avoid.

Have a great time in our country.

odie1: we are almost all friends here (not like in the "other place"), so don't worry at all about the hijacking.

av - yes, there was a list with rates in both places I went, one suggested by hotel, one by my bike tour guide. Neither list was official looking, both handwritten in marker.

odie1 - I'll put the Santiago recs on a new thread. Happy to help. I just spent a week there for the fourth time.

It will be interesting to see what happens in the near future. I was told by some locals the government is setting limits on how much money locals can take out of the bank when they leave the country, as if to try and keep pesos in the banks. But my guess is that most of the locals with a substantial amount of money don't have their money in domestic banks. Either way, I will enjoy the exchange rate while I am there. Argentina is by far one of my favorite spots.

avrooster- Good to know. I have actually been on these forums a long time and for the most part have found most contributors friendly. I will still post, as you had suggested (see above), about finding the Blue Rate on Saturday.

Crosscheck-I just posted on your new thread-thank you!

avrooster - Where can you get the blue rate on a Saturday? Heading to BA mid December. Sorry if you have already posted the answer to this elsewhere on this forum but didn't come across it.

Hi, amh888!

Since "blue exchange rate" activities are, at least in theory, illegal, I would never post that kind of info here.

My e-mail is all over this forum, for instance here:

http://www.fodors.com/community/sout...omment-8412747

E-mail me to that address, amh888.

Have a great time in our country.

In an earlier post in this thread, dated October 17, I said the following:

"Let's see if I can explain myself with an example:

Say you go right now to a hotel which costs 1.000 pesos a day. AT THIS TIME, this is about 172 dollars and that is what it will cost you, if you pay with your CC. If you pay with cash pesos obtained by selling dollars in the "blue" market, it would cost you ABOUT 105 dollars, (using a 9,50 rate of exchange) which is the 40% discount I am talking about all the time.

But if they institute a "tourist dollar" worth let's say 7,50 pesos per dollar, the hotel would cost you 133 dollars if you pay with your CC and still 105 dollars assuming the "blue" market remains at the same level, which may or may not be the case. So the "discount" would fall from 40% to about a little more than 20%, which would make bringing cash less attractive.

Comprenden (understood) ???????????????"

End of quote.

Well, our dear president is back from her "sick leave" and she has replaced the economy minister, putting in his place some Marxist guy who is in favor of doing what I repeated above.

For foreign tourists, this will mean that bringing cash and selling it in the "blue" exchange market to pay for their expenses will represent a smaller saving than at the present time, as explained above.

Until yesterday, this got them a discount of about 40% on anything which can be paid with a CC. Should the government actually implement these exchange market changes, that % most likely will be reduced significantly.

Stay tuned and have a great time in our country.

Avrooster-
Saturday in Palermo and I was wondering of any suggestions to exchange and what the rate is now? via PM ?

I gather you are saying you are in BA TODAY and wish to exchange?

I would research this fellow:

http://www.exchangeinargentina.com/contacto.html

I found him here: http://tinyurl.com/lhgwxge

Mind you, odie1, I DO NOT know him, but I don't know of anyone else who would change on a weekend.

Have a great time in my town, odie1.