Post: #1

Is bringing hard USD to Argentina still good in 2017 or has the devaluation of the Peso made this unimportant? Does anyone have experience with exchanging dollars in Argentina in the last year or know what the actual in person exchange rate is?

Post: #2

If you look at the US dollar vs the Argentine peso, the US dollar is still super strong against the peso in 2017. It's just that the normal market rate is in effect now and there isn't this crazy underground market where you can get 40% more than the market rate now.

1 US Dollar for 15, almost 16 pesos, is even better than the blue rate I was getting that was around 12-13 pesos per dollar back in later 2014.

Enjoy the VERY strong dollar while it lasts, but to answer your question directly, yeah, it seems kind of unimportant. Since you can just get it anywhere at the high rate now (like from withdrawing it from an ATM)

Post: #3

Did a quick google search. Looks like the Market controls that brought about the "Blue Dollar" rate have been lifted towards the end of 2016 and now the Blue Dollar rate and official exchange rate have converged at what the Blue Dollar used to be.

If any one with first hand experience in Argentina can give more info that would be great.

Post: #4

Wait until further devaluation occurs, we've seen 40% inflation the past year but the dollar has barely budged. Not a good place for arbitrage currently.

Post: #5

Globally, the US dollar should be accepted anywhere in the world, but I heard that there are non-banks who generally offer way more favourable exchange rates than the local financial institution.

Regarding exchanging US dollars into Argentine Pesos, Check the US dollar index along with the Trend chart for US$ to Argentine peso. I believe that the US dollar is rising compared to other currencies in the world.

Trump effect is still in effect. This is the reason why the Euro is barely hovering at 1.07$, British Pound at 1.25$ and Canadian dollar about to collapse to 75 cents as of today.

If you're thinking of exchanging US dollars to save in Argentina for the long-term, bad idea, but if you want to exchange to get a better rate to spend for a vacation in Argentina, then that's feasible.

Currency markets are very volatile this time of year because of Brexit, Trump Effect, trade wars and global politics.

Generally, Trump effect makes the US dollar a safe haven, but any form of political instability in the USA will cause a lower dollar index.

Right now the Mexican peso is volatile, and if oil prices are to collapse again like last year to 27$/bbl, then countries such as Russia, Colombia, Venezuela, etc are into a shit storm relating to their currencies.

Unless there are Banks & Forex stores in the USA which offer Argentine Pesos, your best option is to exchange US dollars in Argentina at a non-bank for a better rate (non-banks meaning local registered Forex stores).

Hotels, bars and other touristy areas in general give shitty rates because of operating costs in general.

Post: #6

The short answer is no, it's no longer good.

http://www.preciodolarblue.com.ar

This site shows an unofficial rate which is used when exchanging dollars on the streets like Calle Florida. It's pretty much the same as official rate now. So black market is not good anymore. Even some websites where I used to check unofficial rates are now shut down. It was good in 2013 when you could turn every $2k into $3k in a moment. That fact alone made living in Argentina worthwhile.

The second option to enjoy strong dollar is also no longer there. Official rate was 5 in 2013 and now it is 16 so it looks like you should get a good deal on your dollars. No. I was changing money on the black market in the fall of 2015 last time at a rate of 15 (official was ~11) and even after gaining extra 35% in cash the prices for me were expensive. I even quit staying in hotels by paying cash and saving 35% thanks to black market. It was more economical to book Airbnb apartments with a credit card at official rate. I went to my favourite traditional restaurant and exactly the same dinner that cost 100 pesos in 2013 was now 250-300 pesos. I believe now it will be 350. So it's already late to enjoy a strong dollar in Argentina.

So basically your expenses will be like in any other big city and BA maybe the most expensive city in the Latin America.

Post: #7

I was in Buenos Aires in late October and ATM was the best bet. You get close to the actual exchange rate and don't get hit with the large bid/ask spread from changing hard currency. Black market is a nonfactor at this point since Macri came to power

Given all the economic issues there, I was also a little surprised at how expensive things were, at least in the nicer areas like Recoleta. I was expecting prices similar to Bogota, but found them to be more inline with Sao Paulo

Post: #8

I went to a sketchy money exchange place hidden in the back of a jewelry shop that gave me about 5% or so higher than the rate listed on XE.com. It looked like what I imagine a drug dealer stash would look like. They had little office with money counters. I saw people coming in with garbage bags full of money.

One weird thing I noticed at the ATMs is that you can withdraw USD from them.

Post: #9

(01-29-2017 06:04 AM)Shimmy Wrote:  One weird thing I noticed at the ATMs is that you can withdraw USD from them.

You can withdraw dollars, provided you have an account in USD at a local Argentinian bank...