Thread: Exchanging Currency

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  1. #63
    Quote Originally Posted by Moore
    I had to exchange 6,000 Euros to Dollars on Monday. I went downtown to the Sarmiento 500 area and got the good market rate (1.27) but what a pain in the ass. Here are my notes.

    Local banks in Recoleta like Banco Rio, Banco Frances, and Citibank will only exchange pesos. So to exchange Euros to Dollars, you have to change Euros to Pesos and then Pesos to Dollars and of course you get fucked royally. The effective exchange rate is about 1.23 since you sell Euros at about 3.85 and then buy Dollars at about 3.12. Exchange houses downtown will change from Euros to Dollars directly.

    However, there is a 10,000 Peso (or equivalent) limit per exchange house transaction. Since 6000 Euros is worth about 23,000 Pesos, I had to go to three exchange houses to change it all. The paperwork was extensive at most of the houses. You must have your passport or DNI. I'm 99% sure the 10,000 peso limit does not apply to exchanges made at your own bank. When I transferred these funds into Argentina, I exchanged them into Euros in one transaction at my local Banco Rio.

    Sarmiento 500 is not my favorite area of Buenos Aires. As usual, there was a street demonstration with drums, guys with masks and sticks, some minor fires. When I was in one exchange house, they blocked / locked the doors as the demonstrators passed. That gave me a nice warm and fuzzy feeling. And there I am walking around with a very thick bulge of cash in my front jeans pocket. Actually it wasn't so bad since there is usually a good police presence in the area, and due to the demonstration there were hundreds of them.

    So I saved about 3% or US$250 on my 6,000 Euro exchange. The biggest hassle was having to go to multiple houses.

    BTW, I had about 30something Pesos left over after clearing exit customs at Ezeiza on Tuesday. The Dollar buy rate was decent at the exchange kiosk near gate 1 - about 3.12 IIRC. So I got a 10 Dollar bill and still have a 2 Peso note left over as a souvenier - its good for entertainment "value".
    There is a Citibank in BA thats great. I bank with Citibank here in illinois. I will just have my bank do a bank to bank transfer to open a account at the Citibank for me. Transfer 1000 american dollars. They can't screw me on exchange rate then because I'm a Citibank customer. Does anyone know how far the Citibank is from las Canitas in Palermo

  2. #62
    Senior Member


    Posts: 547
    Quote Originally Posted by Webcams
    Oh and What are australs?
    The australes was the old currency, replaced by the pesos when Menem president converted 1 peso for 1 dollar. That happened after the hiperinflatuation crisis in the 80's. People used to carry millions of australes for buying a lunch.

  3. #61
    EDITOR'S NOTE: This report was deleted because the subject was not related to the purpose of this thread, which is "Exchanging Currency".

  4. #60
    Mongers,

    Thanx for the good info, this board seems to have good useful information, it figures, money always draws attention. Thanx again and keep the info alive on exactly where to find the best rate. Nobody likes to get less than there money is worth.

    KOS

  5. #59

    Forexcambio vs Alhecgroup

    From experience I can say that Alhec Group consistently beats Forexcambio. This morning Forex is 3.03, Alhec is 3.04. Less than a 5 minute walk from Forex, Alhec is at 641 Paraguay just steps from Florida. Tel. 4316 5000

  6. #58
    Is it naive to ask to see what argentine currency looks like?

    Looking at a currency site now, Just asking =) A peso is only a peso if it is a peso.

    Oh and What are australs ?

  7. #57
    The official daily rate at: http://www.dolarhoy.com.ar/

  8. #56
    A good place to exchange especially if it's other currency not Dollars is Forexcambio on Marcel T de Alvear. When you get to the end of Florida with the Marriot Plaza in front of you, take a right along MT Alvear and about half a block you'll find Forexcambio. They will also change your travellers. Once you have been there a few times they won't bother you with documents or papers and so on.

  9. #55
    Senior Member


    Posts: 610

    KOS-money exchange

    Hey KOS.

    The best place at the airport is the National bank-the only one. You can find it just outside customs. Ignore all the booths that offer money exchange, they are a rip off.

    You can either do it while still inside the customs area or if there is a long line (rarely) you can exit the doors and circle around and behind the booths on the right to another entrance into the bank to exchange money.

    Once in Buenos Aires, the best place I have found is on Santa Fe up by Plaza San Martin, I think between Maipu and Esmeralda or Esmeralda and Suipacha. It is on the opposite side of the street from the American Airlines office on the corner. It is on the right side as you are walking from 9 de Julio toward Suipacha-Esmeralda-Maipu.

    Sorry but I do not recall the name.

    Hope that helps. Enjoy the chicas.

    Suerte.

    Stowe

  10. #54
    Mongers,

    This is Kos checking in Argentina. Just to introduce myself if some of you are not familiar with my style. I have vast knowledge of Mexico, Costa rica, Panama, Colombia and Venezuela and many Carribean islands. I am thinking of moving to Argentina for three months to monger and to experience the city. My question is, where is the best place to exchange dollars for pesos, I understand it is 3 to 1, which is great. But is the airport, casas de cambio, bancos, where is the best exchange rate. Every country is different and I have never been so far south as buenos aires. But I will be making my way down there.

    Thanx.

    KOS

  11. #53

    Thumbs up Cambio Exchange

    Went to Cambio and a tout took me to a small store on Florida. Offered 3 peso more per $100. When I received the $ it looked very fake. Took my Franlkins and left.

    Noticed at La Madiliene across from Excreda and small sign said exchange 312 for 100. Worked like a champ.

    Best rates I saw all week.

  12. #52
    Senior Member


    Posts: 1043
    I had to exchange 6,000 Euros to Dollars on Monday. I went downtown to the Sarmiento 500 area and got the good market rate (1.27), but what a pain in the ass. Here are my notes.

    Local banks in Recoleta like Banco Rio, Banco Frances, and Citibank will only exchange pesos. So to exchange Euros to Dollars, you have to change Euros to Pesos and then Pesos to Dollars and of course you get fucked royally. The effective exchange rate is about 1.23 since you sell Euros at about 3.85 and then buy Dollars at about 3.12. Exchange houses downtown will change from Euros to Dollars directly.

    However, there is a 10,000 Peso (or equivalent) limit per exchange house transaction. Since 6000 Euros is worth about 23,000 Pesos, I had to go to three exchange houses to change it all. The paperwork was extensive at most of the houses. You must have your passport or DNI. I'm 99% sure the 10,000 peso limit does not apply to exchanges made at your own bank. When I transferred these funds into Argentina, I exchanged them into Euros in one transaction at my local Banco Rio.

    Sarmiento 500 is not my favorite area of Buenos Aires. As usual, there was a street demonstration with drums, guys with masks and sticks, some minor fires. When I was in one exchange house, they blocked/locked the doors as the demonstrators passed. That gave me a nice warm and fuzzy feeling. And there I am walking around with a very thick bulge of cash in my front jeans pocket. Actually it wasn't so bad since there is usually a good police presence in the area, and due to the demonstration there were hundreds of them.

    So I saved about 3% or US$250 on my 6,000 Euro exchange. The biggest hassle was having to go to multiple houses.

    BTW, I had about 30something Pesos left over after clearing exit customs at Ezeiza on Tuesday. The Dollar buy rate was decent at the exchange kiosk near gate 1 - about 3.12 IIRC. So I got a 10 Dollar bill and still have a 2 Peso note left over as a souvenier - its good for entertainment "value".

  13. #51
    IIRC it is open on Saturday mornings. 85% sure. If not best bet is ATM in the airport and withdraw 990 pesos.

  14. #50
    Senior Member


    Posts: 20

    Saturday Arrival Money Exchange

    Is this bank at the airport (mentioned by Hunt99 and Judd) open Saturday mornings?

    If not, what is my best bet on a Saturday for exchanging my cash, knowing I won't have any pesos when I get off the plane?

    Pop till you drop,

    Hojo

  15. #49
    Senior Member


    Posts: 1543
    Judd may be referring to the Banco de la Nacion Argentina. There are exchange windows (the same bank branch faces in two directions) both outside in the terminal and also inside, next to customs (where you run your bags through a scanner if selected). AVOID the kiosks inside the baggage claim, which you will pass after clearing passport control but before you go through customs.

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