Currency Exchange and CC Use
Here's an interesting and informative article on this subject. It's a jungle out there!
Old-fashioned cash (preferably in something other than US$) is becoming the way to go.
[url]http://seattletimes.nwsource.com/html/travel/2003907603_pucci30.html[/url]
Today's exchange rate is $3.12 AR
Guys,
The exchange rates were all over the place at the airport today. Make sure you get the best rate there by going over to the Banco de Nacion as you exit the luggage area, they are to your right. The rate this morning was $3.12 AR for the US dollar.
Why don't you use an ATM?
[QUOTE=BioGekko]I'm not sure why anyone bothers to exchange US$ at all. I've gotten between AR$3.0 and AR$3.1 all week directly from merchants around Recoleta and Puerto Modero; but maybe it's harder to spend US$ in other neighborhoods?
At 3.0 exchange that's around a 4% cost today, at 3.1 exchange it's less than a 1% exchange cost. And it's a one way cost, because you don't wind up with a bunch of unused pesos to turn back into US$ at the end.
Also, the idea that chicas should only be paid in AR$ is, in my opinion, silly. The ones I've met can multiply and divide by 3 as quickly as anyone else. This is a fluid two currency economy. JMHO.[/QUOTE]Well as you say in your post about Madahos, "I am obviously a well heeled American" and your experience there might tell you something about the downside of using dollars when you're negotiating with chicas, especially if you don't speak reasonable Spanish. Sure the girls can multiply by three, but that's not the point when you insist on using dollars. Its the message it conveys. What it say is. "look I've just arrived, I don't know my way around, I can't be bothered going to a local ATM and drawing out some pesos, because I won't be staying around for long, I'm loaded and don't mind paying top dollar for you tonight."
Don't worry about having a few pesos left when you leave. You can always use them on you next visit. That is. If you ever decide to come back again.
Exchanging money at airport on arrival
It has been said already some time ago and a few posts back, but it is always good to stress it.
After you have gone through the duty free area and enter the baggage claim area, DON'T rush to the exchange kiosk: there rates are between 15% and 20% less favourable than at Banco de la Nacion, located on right side as soon as you exit in the main arrival hall (after sliding doors). This is reason there are always some customers queueing at Banco.
Also, while you wait for your luggage, just read the yellow signs in the middle of the conveyor belts which update you about US$ and EUR exchange rates at Banco de la Nacion, so you can immediately comprare how exchange kiosk and other exchange offices after customs control (DON'T be tempted by them either) are a real RIP OFF.
At that Banco you can also change Reais in case you don't have wasted all of them with "garotas de programa" in Brazil.
Buying FX in bank or brokerage acct.
Has anyone from the U. S. Tried to buy FX in their acct. I am planning a trip to South America in the new year. The USD has had a massive rally against almost all currencies but especially the Brazil Real and other S. A. Fx's. I think this is really short term. I want to buy some Reals now before I leave in Feb. So I don't miss this opportunity.
here is a chart. Number of Reals per $
[url]http://finance.yahoo.com/echarts?s=USDBRL=X#symbol=USDBRL=X;range=1y[/url]
Thanks