Exchanging Currency

[Silver Star]

It seems like the final exchange rate for EUR to USD will be between 1. 21 and 1. 24 as of today, including fees. I saw 6. 30 ARS / USD listed here, leading to 1. 21*6. 30 = 7. 65 EUR / ARS or 1. 24 * 6. 30 = 7. 81 if exchanged beforehand. I also saw a guesstimate of 8. 25 for ARS / EUR, which would obviously be a bit better, however it was not confirmed.

The "risk" in bringing USD would be that if I don't use all of it, I will be stuck with dollars afterwards.

Seems clear cut, best to bring the Euros down, there is a market here for Euro, probably can get about 8. 24 or so based on todays exchange. Just may be a bit harder to find a buyer. Plus you can leave with your excess Euro, amd not have to convert baxk lime you said.

[Aqualung]

I was going to change money the other day and asked the guys in the house if they needed any change. Two guys gave me $200 bucks to change, on gave me 100's and the other 20's. My cambio guy gave me 6. 2 for the 100's but only offered 6 for the 20's. I asked him why and he said because they are a pain in the ass to carry around. So because it's a little more work they charge a premium. Argies never fail to entertain.

Daddy, I have explained it before and again today. They are smuggling the money out of the country. Bundles of 20s are five times harder to smuggle. It makes perfect sense from their point of view.

[DavieW]

I asked him why and he said because they are a pain in the ass to carry around. So because it's a little more work they charge a premium. Argies never fail to entertain.

It would be funny if it wasn't so sad, and typical of their entire philosophy on life!

[Daddy Rulz]

The money exchange guy I use has said he would only accept up to $200 in twenties

I was going to change money the other day and asked the guys in the house if they needed any change. Two guys gave me $200 bucks to change, on gave me 100's and the other 20's. My cambio guy gave me 6. 2 for the 100's but only offered 6 for the 20's. I asked him why and he said because they are a pain in the ass to carry around. So because it's a little more work they charge a premium. Argies never fail to entertain.

[Newhere]

How much juice will you have to pay to change Euro for USD? Once we know that, we can calculate whether it is worth it or not.

I have a contact in the tire shop business here, he needs Euros to buy high end German Suspension Equipment

It seems like the final exchange rate for EUR to USD will be between 1. 21 and 1. 24 as of today, including fees. I saw 6. 30 ARS / USD listed here, leading to 1. 21*6. 30 = 7. 65 EUR / ARS or 1. 24 * 6. 30 = 7. 81 if exchanged beforehand. I also saw a guesstimate of 8. 25 for ARS / EUR, which would obviously be a bit better, however it was not confirmed.

The "risk" in bringing USD would be that if I don't use all of it, I will be stuck with dollars afterwards.

[Silver Star]

Do you guys know if there are preferences regarding 50 or 100 EUR bills?

I have the option to bring EUR (at no cost to me) or to change to USD here and then exchange USD for ARS. My guess is that USD may have a slightly better exchange rate in Buenos Aires, but this advantage would be eaten up by the fees I pay here for changing EUR to USD.

How much juice will you have to pay to change Euro for USD? Once we know that, we can calculate whether it is worth it or not.

I have a contact in the tire shop business here, he needs Euros to buy high end German Suspension Equipment

[Dickhead]

Things have change very much here. A year or so ago changing smaller bills was no issue, today it is.

I guess that doesn't surprise me. I sure don't miss bullshit like that.

[Newhere]

Do you guys know if there are preferences regarding 50 or 100 EUR bills?

I have the option to bring EUR (at no cost to me) or to change to USD here and then exchange USD for ARS. My guess is that USD may have a slightly better exchange rate in Buenos Aires, but this advantage would be eaten up by the fees I pay here for changing EUR to USD.

[Gandolf50]

The money exchange guy I use has said he would only accept up to $200 in twenties (the rest have to be $100 bills) but yesterday he had no problem exchanging $400 in twenties (which is mainly what I have) (6. 25:1 although I hear others get 6. 3:1). For those of you who are not following the business news, December 15 is judgement day for Argentina, financially and economically, due to a bond dispute in New York. People say what happens on Dec 15 could have serious reprecussions for the country. My question is what impact do you think this bond dispute is having on the peso and exchange rate? Is it better to buy pesos now or wait to see what happens?

The peso has gone down (or up depending on your point of view) around 12 cents in the past week. I would say wait if you can. Then there is always a possibility that the peso of today will be replaced with something new next year. Typical of this gov't to print new bills and say they are worth 1 to 1 or something equally crazy

[Cheerfull]

The money exchange guy I use has said he would only accept up to $200 in twenties (the rest have to be $100 bills) but yesterday he had no problem exchanging $400 in twenties (which is mainly what I have) (6. 25:1 although I hear others get 6. 3:1). For those of you who are not following the business news, December 15 is judgement day for Argentina, financially and economically, due to a bond dispute in New York. People say what happens on Dec 15 could have serious reprecussions for the country. My question is what impact do you think this bond dispute is having on the peso and exchange rate? Is it better to buy pesos now or wait to see what happens?

[Chicago Guy]

Is the coin store on Vincente Lopez the only reliable cueva in Recoleta? Thanks, Alex

[SunSeeker]

6. 2-1 at cervino Friday. 600 in 20's got from an atm in LAX

[Gandolf50]

What you need to do before you leave is go to your bank and ask for clean bills. If they give you any flak, just explain you are leaving the country and most will understand why you want them. If not just explain why to them. I am always amazed at the high quality of US currency here. When a client pays me here it is often in new crisp new bills all in numerical order! If I was in the states I would be thinking forgery! Here its normal.

[Aqualung]

I had a discussion with the owner at one of the cuevas I go to (not the one a Florida, a more serious one, or maybe the correct term is not an arbolito?) about this. I had brought him a stack of 20s and 100s to buy some pesos, knowing the 20s might be a problem. He told me that since I was a long-time client he'd try to deal with them, but the problem is that many people in South America are fixated by a desire for perfect bills, and in denominations of 100. Most people he does business with will not accept 20s although they will accept some older bills. Often when they do accept them, as Silver Star mentioned, they offer a poorer rate on whatever currency is being bought. He told me that if he could move them without problem he'd let it stand, but if I came back next month and he hadn't been able to move them, I'd have to cough up some $100s to replace them or take a hit on my next conversion rate.

I wouldn't say there's no problem with 20s, but somewhere someone will take them, just maybe not at the price you'd like.

The problem is that they need to move / smuggle huge amounts of money around and out of the country. A million $ in 20's take a lot more space than a package of 100's.

[Silver Star]

I had a discussion with the owner at one of the cuevas I go to (not the one a Florida, a more serious one, or maybe the correct term is not an arbolito?) about this. I had brought him a stack of 20s and 100s to buy some pesos, knowing the 20s might be a problem. He told me that since I was a long-time client he'd try to deal with them, but the problem is that many people in South America are fixated by a desire for perfect bills, and in denominations of 100. Most people he does business with will not accept 20s although they will accept some older bills. Often when they do accept them, as Silver Star mentioned, they offer a poorer rate on whatever currency is being bought. He told me that if he could move them without problem he'd let it stand, but if I came back next month and he hadn't been able to move them, I'd have to cough up some $100s to replace them or take a hit on my next conversion rate.

I wouldn't say there's no problem with 20s, but somewhere someone will take them, just maybe not at the price you'd like.

So moral of the story is to come here with 50's (no problem) or 100's in good condition (not written, stamped, torn, etc) , the problem is the American ATMs spew out 20's many of which are in ratty condition. Argentines are very fussy about the quality of their USD, and other so called hard currencies.