Exchanging Currency

[QUOTE=Johnbear;448041]Guys,

What is the exchange rate now? Where is the best place?[/QUOTE]Found $15.20 this afternoon.

It was not my money so I did not even check anywhere else.

TL.

Hi, I almost always use ATMs when travelling. My bank has not transaction fees and even rebates any ATM fees charged. But seems the consensus here is cash is king in BA. Is that true. Can anyone recommend the best place to get a good rate in Retiro?

[QUOTE=CharmCityDav;448098]Hi, I almost always use ATMs when travelling. My bank has not transaction fees and even rebates any ATM fees charged. But seems the consensus here is cash is king in BA. Is that true. Can anyone recommend the best place to get a good rate in Retiro?[/QUOTE]There are no good rates right now and I don't know anyplace I would change money in retiro.

Retiro is really close to all of the places guys have talked about changing money on this thread.

I brought about $1500 down and exchanged three times. Twice earlier in the week at 15.1 and 15.2. Later in the week got 15.4 at a different place. Both places were on Lavalle. This was all with 20s, I totally forgot to bring 100s, which would likely have got me a better rate. Not a big deal, probably a $20 difference. The "cambio cambio" guys are still out in full force.

Have done a few ATM withdrawals as well. The most I have been able to withdraw at one time is 2000 pesos which is a poor deal. Each withdrawl you get the $6 (94.20 pesos) local bank charge. Have yet to see what my bank charged, but suspect the net rate will be lower than 15.

Howdy ,

If anyone needs to exchange a few pesos for this long weekend you can send me a message .

I am just trying to help a friend of ours that is leaving the country tomorrow morning .

Maybe 7000 so its just a little pocket change but completely worthless outside of the country.

Thanks ,

TL

Whatsapp is the Best way to communicate .

+54 911 6116 4254

On the Bloomberg exchange it sez the argentine exchange rate is 15.99. Is anybody getting that or anything even close to that now?

On Monday I got 16.00 and on wed I got 16.10 at 860 Florida. I have used this guy for several years I always exchange three hundred us and during the blue days he always seemed a little higher than others and now he seems right at the official exchange rate. When you enter this small shopping mall, Galeria el sol Walt to the last door on the right.

[QUOTE=HotRod11;448330]On Monday I got 16.00 and on wed I got 16.10 at 860 Florida. I have used this guy for several years I always exchange three hundred us and during the blue days he always seemed a little higher than others and now he seems right at the official exchange rate. When you enter this small shopping mall, Galeria el sol Walt to the last door on the right.[/QUOTE]That's definitely an upward change from 3 weeks ago. Don't know if that will make things cheaper in BA.

[QUOTE=Esten;448239]I brought about $1500 down and exchanged three times. Twice earlier in the week at 15.1 and 15.2. Later in the week got 15.4 at a different place. Both places were on Lavalle. This was all with 20s, I totally forgot to bring 100s, which would likely have got me a better rate. Not a big deal, probably a $20 difference. The "cambio cambio" guys are still out in full force..[/QUOTE]$1500 in 20s - will that even fit/fold in a wallet?

Exchanged currency on Saturday January 21. I received 16.60 pesos per $ on Lavalle. Using my Schwab ATM with no foreign exchange fees or ATM fees I received 15.82 pesos per $.

Today I received 16.63 per dollar. Yesterday I received 16.9 per dollar.

Hey guys, it looks like I will be back in BA late summer for a few months and wanted to ask what was the best way to receive a money transfer from the US that I can convert to cash? Is Western Union a good option, or something similar? I plan to get a Schwab ATM card, but there might be occasions where I will need cash and don't want to set up a local account, etc.

Thanks in advance.

[QUOTE=Slipknot;448503]Hey guys, it looks like I will be back in BA late summer for a few months and wanted to ask what was the best way to receive a money transfer from the US that I can convert to cash? Is Western Union a good option, or something similar? I plan to get a Schwab ATM card, but there might be occasions where I will need cash and don't want to set up a local account, etc.

Thanks in advance.[/QUOTE]Howdy Captain ,

Check out Xoom as a way to transfer money from the United States to yourself down here in Buenos Aires.

The company is owned by PayPal and the transfer fees are very reasonable compared to Western Onion .

Lots of convenient pickup locations too.

Actually cheaper than using an ATM for now .

Maybe only 4% but better than a stick in the ass.

After a certain amount of money has been transferred the Argentine government may ask you for proof of income .

Good Luck and let me know if you need anything before you arrive .

It's been a while !

TL.

The security card at my hotel that offers advice says you should avoid giving a 100 peso bill to a taxi driver. It might have been true two or three years ago.

[QUOTE=BigBossMan;448523]The security card at my hotel that offers advice says you should avoid giving a 100 peso bill to a taxi driver. It might have been true two or three years ago.[/QUOTE]Even though the newer bills are harder to counterfeit, the haste of taxis, especially after dark, and the unfamiliarity of the currency make cheating the gringo passenger relatively easy. I carry a wad of small bills in a separate pocket so that I am able to pay the taxi driver very close to the exact amount of the fare. You should also be sure the the driver puts the "flag" down on the meter and always try to take a "radio" taxi. It is an unfortunate reality, but BA is full of petty thieves and fraudsters.

Tres3.

However problem is that when you draw money from ATM only 100 bills are delivered.

[QUOTE=Tres3;448525]Even though the newer bills are harder to counterfeit, the haste of taxis, especially after dark, and the unfamiliarity of the currency make cheating the gringo passenger relatively easy. I carry a wad of small bills in a separate pocket so that I am able to pay the taxi driver very close to the exact amount of the fare. You should also be sure the the driver puts the "flag" down on the meter and always try to take a "radio" taxi. It is an unfortunate reality, but BA is full of petty thieves and fraudsters.

Tres3.[/QUOTE]

Many of the rides I have taken have ranged from 60 to 140 pesos so the 100 peso bill is a natural one to exchange. I have had a long day and a couple of drinks but isn't the initial drop 23 or 27 pesos now? The feedback is coming from very experienced guys so the advice on taxis should be heeded.

[QUOTE=Tres3;448525]It is an unfortunate reality, but BA is full of petty thieves and fraudsters.
[/QUOTE]Never a truer word spoken. But in my 7+ years in ARG I was robbed more than most (20+ times!), but never by a taxi driver. I found them to be a very proud bunch who hated to hear stories about other drivers ripping people off. On more than one occasion I've had a driver take me home for free when I've realized I didn't have enough cash for the fare. Also been given discounts on the meter reading if they've inadvertently taken a longer route than necessary. It wasn't all good mind - I had a few bad experiences in taxis, having been thrown out after asking them to stop texting-and-driving, or smoking!

[QUOTE=DavieW;448539]But in my 7+ years in ARG I was robbed more than most (20+ times!)[/QUOTE]Robbed 20+ times. Could you please expand on that? Just to help me and others to avoid being robbed more than once.

I am now holding 2 - 100 peso bills that are worthless. Both came from taxi drivers and from a scam where you hand them a 100 peso bill and they return it saying it is not acceptable because it has a tear on the corner or an ink mark on the bill and in reality this is not the bill you gave them. Locals tell me they always look at the last 2 numbers on the bill that they hand to a taxi driver....good advice.

[QUOTE=HotRod11;448562]I am now holding 2 - 100 peso bills that are worthless. Both came from taxi drivers and from a scam where you hand them a 100 peso bill and they return it saying it is not acceptable because it has a tear on the corner or an ink mark on the bill and in reality this is not the bill you gave them. Locals tell me they always look at the last 2 numbers on the bill that they hand to a taxi driver....good advice.[/QUOTE]The uber option is very appealing.

[QUOTE=TomJackin;448554]Robbed 20+ times. Could you please expand on that? Just to help me and others to avoid being robbed more than once.[/QUOTE]Well documented elsewhere on this forum.

Mostly from when I lived in Puerto Iguazu, which is a pretty typical border town, blighted with gangs coming over from Paraguay and Brasil to rob the tourists. The house was burgled a number of times, at least twice by the local police. In Buenos Aires I was most vulnerable when out with my toddler - if you've got a kid in your arms you're considered an easy target (no chance of either fighting back or running!). Luckily mainly just pick-pockets - only twice threatened with violence and only once had a weapon (knife) pulled on me - each time when I had my kid with me.

One thing I can tell you - if you are robbed, don't bother going to the cops. It's likely to cause you more bother than the thieves did. I once got pick-pocketed on the Subte by a very organized gang who created a fake crush of people getting on to the train. Other passengers who witnessed it told me to check my pockets because they recognized the gang and knew what had happened. I went to the cops and they held me for 4 hours before eventually telling me they could do nothing about it. I told them I could give them good descriptions of at least 3 of them - they declined the offer. It turns out, not only did the cops know them, but they had an agreement that as long as they didn't hurt anyone and only targeted foreigners, they'd leave them alone.

[QUOTE=HotRod11;448562]I am now holding 2 - 100 peso bills that are worthless. Both came from taxi drivers and from a scam where you hand them a 100 peso bill and they return it saying it is not acceptable because it has a tear on the corner or an ink mark on the bill and in reality this is not the bill you gave them. Locals tell me they always look at the last 2 numbers on the bill that they hand to a taxi driver....good advice.[/QUOTE]Just photograph the bill before you hand it to them.

TL.

[QUOTE=TejanoLibre;448580]Just photograph the bill before you hand it to them.

TL.[/QUOTE]I'd do that anywhere in the world when handing over a large denomination note to a taxi driver! Prior to mobile phones I'd always note down the serial number.

[QUOTE=DavieW;448579] <snip> I once got pick-pocketed on the Subte by a very organized gang who created a fake crush of people getting on to the train. <snip> [/QUOTE]It doesn't have to be a fake crush. I got pick-pocketed on the Subte during rush hour when every car was filled beyond capacity. It was a front pocket too. I had no idea until a guy standing near the door got off just as the doors started to close. I thought that was sort of strange and then I realized what had happened and checked the front pocket in which I had been carrying my wallet.

Bob.

[QUOTE=TejanoLibre;448580]Just photograph the bill before you hand it to them.

TL.[/QUOTE]Another smartphone aid is an app which turns the entire screen white so that you can see anything embedded in the bill. I use one called "WhiteScreen" on my Android phone.

Bob.

I am a very very frequent traveler. In Medellin I had my first encounter with a pick pocket. I got out of my taxi at a point where most tourists arrive at the tourist area. The taxi was very small so i had to get out of the taxi to get to my money that was in my front right pocket. I paid the taxi and with a great deal of excitement I walked toward the touristy area. Within a few moments I felt a tug on my pocket. Turning to my right and with my elbow sticking out I hit a bad guy picking my pocket right square in the nose. My unintended aim was right on and hitting him on his nose. The bad guy fell to the ground and my money flew everywhere. Local Columbians gathered up my money and handed it back to me.People are the same everywhere. Colombian people are no different than people in any small city in the usa......

[QUOTE=TejanoLibre;448580]Just photograph the bill before you hand it to them.

TL.[/QUOTE]Great advise!

TJ.

Has anyone found an ATM that will dispense USD? I just went to a Citibank on Libertador and the machine did have a menu option for USD, but when I tried it it would not dispense. So I ended up taking the max 2000 pesos.

I'm staying here a month longer than planned , need another USD 1,000 for rent, which preferably I could get in a couple pulls.

[QUOTE=Moore;448592]Has anyone found an ATM that will dispense USD? I just went to a Citibank on Libertador and the machine did have a menu option for USD, but when I tried it it would not dispense. So I ended up taking the max 2000 pesos.

I'm staying here a month longer than planned , need another USD 1,000 for rent, which preferably I could get in a couple pulls.[/QUOTE]To my knowledge, there are not currently any ATMs in Argentina that distribute USD. The menu option on the ATMs that offers USD dates from the 1-1 FX rate days and after the 2001 devaluation was still a viable option ONLY for account holders at that particular bank with USD denominated accounts. Currently, bank account holders can electronically buy/sell USD right from their internet "home banking" web interface in any amount without limits and either hold the USD electronically in a USD denominated account or go to the teller to physically withdraw the currency.

[QUOTE=Moore;448592]Has anyone found an ATM that will dispense USD? I just went to a Citibank on Libertador and the machine did have a menu option for USD, but when I tried it it would not dispense. So I ended up taking the max 2000 pesos.

I'm staying here a month longer than planned , need another USD 1,000 for rent, which preferably I could get in a couple pulls.[/QUOTE]The closest ATM that gives dollars is in Uruguay. The fees are high, so if you do not have a Schwab or other ATM card that rebates fees, they will hit you pretty hard. Before Macri, many Argentines went to Colonia to get dollars from the ATM machines, and then change them on the blue market. The lines were long then, but since Macri, I imagine that they have gotten a lot shorter. The ferry to Colonia used to be fairly cheep, so if you must have dollars, that is probably your best bet. Some of the cuevas may give dollars for pesos since the Macri devaluation, but I do not know how much their haircut is.

Tres3.

Thanks for the replies. Pulling USD from my US account did sound too good to be true in Argentina.

Pulling 16,000 in pesos and changing to 1000 USD would take 8 days and around $150 in fees, though mine are supposedly reimbursed now. Not a great option.

I may try Xoom.

Or better yet get the next apartment through AirBNB that just takes my payment online via plastic. It's so much easier than BYT argentina, that requires everything in cash USD, exact change, plus deposit and contract.

Citibank atms offers us dollar option.

[QUOTE=Shamester;448613]Citibank atms offers us dollar option.[/QUOTE]Did you get dollars from a Citibank ATM?? If so, what ATM card did you use??

Tres3.

[QUOTE=Tres3;448614]Did you get dollars from a Citibank ATM?? If so, what ATM card did you use??

Tres3.[/QUOTE]Works with whatever the atm accepts.

Today I saw a local news flash that there will be a "paro bancario " or bank strike this Friday. If you're low on cash for the weekend I suggest pulling it before then just in case .

Today I pulled 4,000 pesos (2,000 back to back) from a Santander Rio machine. I always assumed the 2,000 was a daily limit but obviously not.

I will arrive on the first of March and was wondering:

1. Did the aforementioned strike occur? If yes, does it affect my ability to get USD converted to pesos?

2. I read previously that Florida St is the place to go to get the best exchange rate. Does anyone have any tips on who, or other places?

Thanks for any help.

Russ.

My suggestion is to ask your hotel the closest money exchange location. Rate differences are insignificant unless you are exchanging big sums of cash.

Also remember to use big bills as they get a higher rate than smaller bills.

Atms are plentiful and usually reliable.

Does anyone know if ATM's in Chile give a US dollar option as available in Uruguay?