Blue rate
Oct 17th, 2013, 04:36 AM
#21
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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) ???????????????
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) ???????????????
Oct 17th, 2013, 04:40 AM
#22
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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!
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!
Oct 20th, 2013, 05:43 AM
#23
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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...
Oct 20th, 2013, 05:05 PM
#24
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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.
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.
Oct 21st, 2013, 02:35 AM
#25
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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.
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.
Oct 21st, 2013, 07:21 AM
#26
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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!
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!
Oct 21st, 2013, 09:59 AM
#28
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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.
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.
Oct 21st, 2013, 10:50 AM
#30
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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.
odie1 - I'll put the Santiago recs on a new thread. Happy to help. I just spent a week there for the fourth time.
Oct 21st, 2013, 11:50 AM
#31
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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.
Oct 21st, 2013, 02:59 PM
#32
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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!
Crosscheck-I just posted on your new thread-thank you!
Nov 12th, 2013, 08:50 AM
#34
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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.
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.
Nov 19th, 2013, 02:23 AM
#35
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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.
"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.
Dec 14th, 2013, 11:37 AM
#37
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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.
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.
