Thread: Exchanging Currency
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01-27-12 22:28 #258
Posts: 911Exchange
Originally Posted by Canardly [View Original Post]
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01-27-12 16:54 #257
Posts: 70Exchanging Dollars for ARG
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!
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01-27-12 06:48 #256
Posts: 911ATM's
Originally Posted by Captain Looney [View Original Post]
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01-27-12 01:47 #255
Posts: 26Are the clubs or girls really accepting USD
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?
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01-27-12 00:33 #254
Posts: 30Dollars at ATMS still?
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
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01-26-12 18:19 #253
Posts: 911Dollars
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!
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01-26-12 17:44 #252
Posts: 70Argentine Currency is Not Convertible
Argentina's government has enacted capital controls to stop capital flight.
Good luck with that one. The result is that people who want to move money out of the country (generally into dollars) will pay a premium to transact an exchange which cannot otherwise be made.
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01-26-12 15:55 #251
Posts: 264Mixing rates
Originally Posted by AllIWantIsLove [View Original Post]
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01-26-12 11:25 #250
Posts: 746I don't understand the discrepancy between various rates. Today Dolar Hoy shows that the best rate you could get in BsAs if you were selling dollars is 4. 335. But twice I've gotten 4. 5 on Corrientes and most recently 4. 55. And now Canardly is posting much better rates in nearby countries.
The place on Corrientes is certainly no secret so I doubt that it's black market. And wouldn't international currency trading keep exchange rates pretty consistent around the world?
Can anyone explain how such discrepancies can exist?
Bob
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01-25-12 22:05 #249
Posts: 70$4. 90 today in Montevideo
That's why I'm posting at 10 pm. Monte is kinda dead.
Also $4. 90 in Asuncion last week. Lotta ARG leaving the country, now in weak hands.
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12-22-11 03:24 #248
Posts: 746Paying Chicas in US Dollars
I've normally paid chicas in pesos, although a few times I used dollars at Gysell's at more-or-less the standard exchange rate.
But these days are chicas happy to take US dollars at a real favorable exchange rate? If dollars are harder to obtain and everyone expects the peso to fall I'd think that it might be smart to pay chicas in US dollars.
Are any of you guys paying chicas in US dollars, and, if so, what rates are they giving you?
Thanks, Bob
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12-21-11 13:41 #247
Posts: 104. 60
Originally Posted by TejanoLibre [View Original Post]
Forecast to move to 5. 20 at least next year. Price of chicas is coming down guys!
Madonna only give 4. 00 so take pesos.
Happy Christmas
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12-02-11 21:44 #246
Posts: 3040Hard to Find at Times!
Originally Posted by Chezz [View Original Post]
Huge difference of opinion between 4.24 and 4.73 !
TL.
PS- It was in a hidden spot on Lavalle!
TL.
Will take you there.
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12-02-11 21:29 #245
Posts: 132In search of a cambio
Having arrived on Tuesday, the airport cambio was closed. Since I've been to town I've only been able to find "official" cambios, and their bs rates. I've been reading this thread about these secret cambios where one can get between 4. 40 and 5. 00. I've combed every fucking inch of Florida street and the only place I found was the official Metropole Cambio, or whateverthefuck it's called.
If anybody can give me information on where to exchange currency at a better-than-official rate, I'd certainly appreciate it. C'mon guys, help a brother out. Thanks!
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11-27-11 05:11 #244
Posts: 1064This gentleman is not a casa de cambio-just an example of the "street rates"
Speak with me privately. I am a friend of his family and have had asado with him and his childern.