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Its true, Argentines want dollars no matter what the cost. The Euro is shakey for long term right now. So its only dollars. I saw signs on Calle Florida yesterday in several stores for $4. 70. Out here in the boondocks where I live they were paying $4. 90 last week and selling at $5. 50! They even asked me if I had more I wanted to sell and that they could give me a slightly better price. I said why should I when the price goes up almost every week!
So I haven't been down since March of 2010, at that time it was still quite easy to get dollars from a couple of ATM's down there, is this not the case still? If the exchange rate can be had that much above the bank rate it may change my usual tactics. Would love to know more, are chicas really into getting dollars instead?
Looney
It would be nice to use USD if possible as the girls can get more value, rather than giving it to the bank. What are you seeing out there?
[QUOTE=Captain Looney; 420696]So I haven't been down since March of 2010, at that time it was still quite easy to get dollars from a couple of ATM's down there, is this not the case still? If the exchange rate can be had that much above the bank rate it may change my usual tactics. Would love to know more, are chicas really into getting dollars instead?
Looney[/QUOTE]No dollars in ATM's. Argentines need permission from AFIP (IRS more or less) to buy dollars and there is a ten day lead time to get them. (when argies say 10, figure 20!) Don't forget, if you pay in dollars figure 5 to one! Otherwise pay in pesos!
This is based on my experience in currency control countries.
If any of this is wrong please correct me.
1) Unlike its neighbors Uruguay and Paraguay (don't know about Brazil) Argentina strictly controls the exchange of its currency.
This is partly due to the default etc of ten years back but basically it is because Argentinians would like to move as much money as they can out of the country and the government wishes to stop them doing so.
Interesting article in page 26 of Clarin today,"Sin dolares, con mucha humillacion." Basically a retired person with 12000 ARG per month pension tried to get $2000, the cashier accepted 9000ARG and told the customer they had to get AFIP (=IRS) permission. Which was denied. The only legal way to exchange currency is at a bank or cambio (with passport) or at an ATM, which will issue ARG with a fee. 17ARG I think.
If you try to change ARG for dollars, they will require proof that you legally acquired them, remember this is you need to make a transaction at the Cambio at the airport. (Hint just go to an ATM and pick up an appropriate discarded receipt.)
2) If you want a better rate of exchange it is easy to find it in Uruguay or Paraguay, legally with a receipt from the cambio. It's a little more complicated here. Stores on Florida are advertising dollar rates from 4. 40 all the way up to 5 (perfume store on NW corner of Florida and Lavalle.) If you want to buy something at the store, just tender $100 and receive change from 500 ARG or whatever.
3) Or you can exchange "informally". Just stroll Florida / Lavalle or Corrientes / Libertad and listen to offers of "cambio" from street barkers. You will be invited to give your dollars in some secluded spot and the barker will return (hopefully) in 15 minutes or so after he has negotiated his own deal with whichever local street merchant is most anxious for dollars. You're not taking much legal risk. The police are much more interested in the merchant and in the barker. But you don't have any recourse (except ratting the barker to the police) if you end up with short ARG or worse still the barker fails to return. Market rate now seems to be about 4700ARG for $1000, slightly less for smaller amounts.
Good luck mongers!
[QUOTE=Canardly; 420704]This is based on my experience in currency control countries.
If any of this is wrong please correct me.
1) Unlike its neighbors Uruguay and Paraguay (don't know about Brazil) Argentina strictly controls the exchange of its currency.
This is partly due to the default etc of ten years back but basically it is because Argentinians would like to move as much money as they can out of the country and the government wishes to stop them doing so.
Interesting article in page 26 of Clarin today,"Sin dolares, con mucha humillacion." Basically a retired person with 12000 ARG per month pension tried to get $2000, the cashier accepted 9000ARG and told the customer they had to get AFIP (=IRS) permission. Which was denied. The only legal way to exchange currency is at a bank or cambio (with passport) or at an ATM, which will issue ARG with a fee. 17ARG I think.
If you try to change ARG for dollars, they will require proof that you legally acquired them, remember this is you need to make a transaction at the Cambio at the airport. (Hint just go to an ATM and pick up an appropriate discarded receipt.)
2) If you want a better rate of exchange it is easy to find it in Uruguay or Paraguay, legally with a receipt from the cambio. It's a little more complicated here. Stores on Florida are advertising dollar rates from 4. 40 all the way up to 5 (perfume store on NW corner of Florida and Lavalle.) If you want to buy something at the store, just tender $100 and receive change from 500 ARG or whatever.
3) Or you can exchange "informally". Just stroll Florida / Lavalle or Corrientes / Libertad and listen to offers of "cambio" from street barkers. You will be invited to give your dollars in some secluded spot and the barker will return (hopefully) in 15 minutes or so after he has negotiated his own deal with whichever local street merchant is most anxious for dollars. You're not taking much legal risk. The police are much more interested in the merchant and in the barker. But you don't have any recourse (except ratting the barker to the police) if you end up with short ARG or worse still the barker fails to return. Market rate now seems to be about 4700ARG for $1000, slightly less for smaller amounts.
Good luck mongers![/QUOTE]This is basically correct. Argentina has only been trying to "control" the exchange in dollars since the election last year. Every one with a brain and a little bit of money that lives here is scared sh*tless. They are afraid its 2001 all over again so they are either trying to put their money outside gov't control (out of the country) or to hoard money under their beds. Since the ARG peso is worthless outside of Argentina and its immediate neighbors (Mercosur) that means changing it to something else. The only type of money that is widely accepted is dollars or euros. (I know there are others but these are the two BIGGIES!) With the euro possibly taking a dive any day that only leaves the dollar. Very few countries try to control the dollar like Argentina, Cuba and Venezuela come to mind and in both countries it has been a disaster. (note these are both countries with strong ties to Argentina) Personally I think it would be better to let the peso devalue and save all the bullsh*t they are going through to try and maintain it. It is going down anyway. It seems every week Moreno (minister of finance & boliches) comes up with a new way to "control" the dollars and capitol flight, but it seems it is just costing the country more in the long term. Personally all this nonsense works for me. I was able to change dollars today for $5. 05!
[QUOTE=Gandolf50;420688]Its true, Argentines want dollars no matter what the cost. The Euro is shakey for long term right now. So its only dollars. I saw signs on Calle Florida yesterday in several stores for $4. 70. Out here in the boondocks where I live they were paying $4. 90 last week and selling at $5. 50! They even asked me if I had more I wanted to sell and that they could give me a slightly better price. I said why should I when the price goes up almost every week![/QUOTE]AVOID GLOBAL EXCHANGE at the Airport!
They are paying $3. 47 to 1 USD!
$4. 50 per Euro!
They say that they offer a 24 hour service and that they are not breaking the law.
It is the first thing you see when you come out of the hallway!
FUCK THEM!
TL
About changing USD for pesos. Are there preferred denominations? Do they mostly deal with 20's and 100's, are they familiar with $50 USD bills? I like 50's, big enough denomination to not take up so much room, yet small enough to be changed or broken.
Just wondering, in the past when I've traveled, I've been told, for example, don't take any torn bills. When I get cash up here, I ask them to just give me the newest version, the one with colors in it. Just to make sure.
I've heard if you know some locals, they may change you at a better rate. Someone on one of the travel forums suggested this to me. Of course I am a little wary of getting counterfeits.
Did I already post about that?
[QUOTE=Hooky; 421207]About changing USD for pesos. Are there preferred denominations? Do they mostly deal with 20's and 100's, are they familiar with $50 USD bills? I like 50's, big enough denomination to not take up so much room, yet small enough to be changed or broken.
Just wondering, in the past when I've traveled, I've been told, for example, don't take any torn bills. When I get cash up here, I ask them to just give me the newest version, the one with colors in it. Just to make sure.
I've heard if you know some locals, they may change you at a better rate. Someone on one of the travel forums suggested this to me. Of course I am a little wary of getting counterfeits.
Did I already post about that?[/QUOTE]Got my 50s changed at the Airport and then at the Money Changer at the Florida street. No issues at all.
[QUOTE=Hooky; 421207]About changing USD for pesos. Are there preferred denominations? Do they mostly deal with 20's and 100's, are they familiar with $50 USD bills? I like 50's, big enough denomination to not take up so much room, yet small enough to be changed or broken.
Just wondering, in the past when I've traveled, I've been told, for example, don't take any torn bills. When I get cash up here, I ask them to just give me the newest version, the one with colors in it. Just to make sure.
I've heard if you know some locals, they may change you at a better rate. Someone on one of the travel forums suggested this to me. Of course I am a little wary of getting counterfeits.
Did I already post about that?[/QUOTE]They will change all denominations. Like you said, no torn, dirty, or marked up bills as many (not all) places will try to discount them. I have not had trouble with older bills, but that might change any day. As always, check your change and double check their math!
[QUOTE=TejanoLibre; 420863]AVOID GLOBAL EXCHANGE at the Airport!
They are paying $3. 47 to 1 USD!
$4. 50 per Euro!
They say that they offer a 24 hour service and that they are not breaking the law.
It is the first thing you see when you come out of the hallway!
FUCK THEM!
TL[/QUOTE]I need to change a small amount of dollars at the airport to pay for my cab. I will have a number of bags including my SO, where besides, Global Exchange, do I exchange money? Thanks
[QUOTE=Santa;421219]I need to change a small amount of dollars at the airport to pay for my cab. I will have a number of bags including my SO, where besides, Global Exchange, do I exchange money? Thanks[/QUOTE]At Banco De La Nacion. They give a decent rate and the best in the airport. When you enter the airport lobby from customs keep bearing to your right and they are right in front of you.
Thanks Gandolf.
Banewbie, are you in BA now, and what rate are you getting at the changer on Florida Street? Or I could ask, how are the rates there in general?
BTW my bank says it will credit me back all ATM fees after I come back, so that's still an option.
As I may have mentioned, someone on a travel forum contacted me and said I might get better exchange rates dealing with local friends. It sounds like the difference would be around 10% higher. Not sure if it is worth it though. On the other hand, the ATMs have a daily limit, don't they?
Thanks again you guys, really appreciate the advice.
[QUOTE=Hooky; 421224]
BTW my bank says it will credit me back all ATM fees after I come back, so that's still an option.[/QUOTE]
Did you ask specifically about the foreign currency transaction fee?
Bob
[QUOTE=AllIWantIsLove; 421227]Did you ask specifically about the foreign currency transaction fee?
Bob[/QUOTE]Sorry Bob I am not sure to what you are referring. What they said they would credit back to me are the ATM w / the fees charged by the bank in Argentina. From what I've read there is typically a charge in the range of 14. 17 ARS, plus some people's banks charge them as well for using an outside ATM.
Is there another fee as well?
Just trying to figure this one out.