Even Bloomberg says you get 40% off
 

Interesting article Avrooster. Seems like the Argentine government are just refusing to accept the economics realities of the market forces which will inevitably win in the end. By my reckoning the true market exchange rate should be even higher than the blue rate given the supposed inflation over recent years. I hope for the sake of the Argentine people you get eventually elect a government who can sort out this problem

Thank you, top poster Crellston.

In fact, if you know what you are doing, you can get more than 40% off, because many businesses give a discount for cash payment, particularly if you say you don't need an invoice. Of course, this is also illegal.

As much as I liked getting the discount, this is depressing on many levels.

We are used to it, crosscheck, so I'm WAY past the stage of getting depressed by such things.

The peso is moving sharply lower in the local black market, drawing near the 12 pesos per dollar level.

At this writing, you can get well over 40% off anything which can be paid with a credit card (including your hotel stay), by paying with cash pesos obtained by selling your cash dollars in said black market.

I'm writing a long post on the subject, to help readers understand how this works, because in the "other place", as I call the leading travel forum, there is a LOT of info, but I don't find it very useful.

Stay tuned and have a great time in my country, at over 40% off.

Whoa - is it now a black market, rather than blue?

Hi, crosscheck!

So, you are still around and dare to post while you still owe us at least one more chapter of your great trip report?

Just kidding! Come back soon! LOL!!

But DO post that last chapter, or else! More LOL!!

I just took a look at:

http://www.fodors.com/community/sout...m#last-comment

and found a post addressed to a Sr. Gallo. Never heard of such a person, unless it's a Google translation of my screen name. LOL!!!

This is so sad. While it is cheaper for me, as a visitor, this must be tough on Portenos! I can't imagine what it is like to see your currency in a fall like this.

Is the recent plummet due to the unexplained absence of Kirchner? Do people feel that no one is leading the country at this difficult time?


BA was already very good value, and now it is absolutely fabulous value! Tip VERY well everyone! And, if you were on the fence about coming here, just do it!

Due to our 30% inflation (and we have had MUCH worse, in the past) Argentines who are able to save money have two choices. 1) spending it or 2) saving it in a reasonably stable currency, which for us is the US dollar.

When, over two years ago, our populist government decided it would buy but not SELL dollars at an artificially low rate, a black market was born and the so-called "blue" rate is the only one at which you can freely buy and sell.

That's why, even though it is, in theory, illegal, almost no one thinks it is wrong to participate in this black market.

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

Somewhat off topic, but saw a quote in the paper the other day: Brasil is becoming Argentina, Argentina is becoming Venezuela, and Venezuela is becoming Zimbabwe.

Latest from Bloomberg:

http://www.bloomberg.com/news/2014-0...w-looting.html

This helps understand the constant devaluation of the peso.

http://www.ambito.com/economia/mercados/monedas/dolar/

shows our populist government has finally given up and is allowing our currency to "float", to around 8 pesos per dollar, today.

This means the discount you can get by paying for your expenses in cash pesos obtained by selling foreign currency in the black market versus paying with your CC, may narrow.

Anyway, have a great time in our country, which is rapidly getting cheap, for tourists!

http://www.buenosairesherald.com/art...llar-purchases

I wrote above:

"This means the discount you can get by paying for your expenses in cash pesos obtained by selling foreign currency in the black market versus paying with your CC, may narrow."

Today's news means it WILL narrow, at least for a while.

In other words, we'll see how this develops during the next few days and weeks, but the advantage of bringing cash may be significantly reduced.

Have a great time in our country. It is now cheaper with your CC.


This means that,

Edit the last "This means that".

I found this NY Times article, in English,to provide a bit of context for the economic woes we are seeing in Argentina today...I wish it were in greater depth. This thread is a helpful contribution to comprehending the chaos.

http://www.nytimes.com/2014/01/25/wo...it_th_20140125

A little birdie told me top TA BA DE Marnie is becoming quite an expert in this matter. LOL!!!

Next week, we'll know how much the gap between the official and the blue rate has narrowed, at least for the time being.

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

According to what usually reliable sources tell me, the "gap" between the official and the "blue" rate is at 4 pesos (8 versus 12), at this writing.

This means you can get about 30% off on anything you can pay with a credit card, by paying with cash pesos obtained by selling your cash foreign currency in the black market.

Have a great time in our country, at +30% off.

From the WSJ this morning:

"'The only defense that Argentines have always had to save has been the dollar,' said Freddy Micheli, a 69-year-old barber who says he dodged the 2002 devaluation by keeping his dollars outside the banking system."

"The gap between official and black-market exchange rates is troublesome for the economy because some businesses start to set prices for goods and services using the latter. It also reinforces expectations that the government will have to devalue the peso even more."

Have a great time in our country at +30% off.