Confused....Can someone break this down
Sorry I am dense but this string, or my understanding of it, goes against everything I have encountered, anywhere....I know Welcome to Argentina! But, could someone on the street there with serious knowledge of this break this down for the board...If you don't know please don't confuse the issue more. Not looking for economics lesson but some basic breakdown of what the last few weeks of this string really mean to the person showing up tomorrow. Thanks if advance.
1. Are you saying not to exchange dollars for pesos at typical exchange places or "Cambio" guys we all know and love?
2. Are you saying the banks are giving equivalent or better exchange than the places above for straight up cash change dollars to pesos?
3. Are you suggesting that if your bank does not charge foreign transaction fees, money exchange fees, and rebates the ATM charge that using your debit card is a better deal than exchanging cash?
4. Are you suggesting that people use their credit card for purchases if it has not foreign exchange fee because they will get a better rater than they will from 1-3 above?
ATM exchange rate with fees
Got some cash at Banco Nacion ATM yesterday, with the infamous $6 fee by the local bank.
For $AR1500, using a Chase debit card, the total was $106.77, so the "ATM exchange rate" in my case was 14.04, including all fees, my bank and local bank ones.
So Benjamins are still a better option.