When planning a trip, one of the most frequent concerns is related to money. Travel expenses should always be considered ahead of time, as any change, whim or unplanned activity is bound to be money-related.
Argentina´s official currency is the Argentine Peso. However, the dollar is also present in the day-to-day market activity and the country´s economic agenda. Cash is king for visitors in Argentina, but thanks to new regulations that allow for a more favorable rate for credit cards this has changed, so read on.
“Visitors to Argentina have historically been able to get much better exchange rates by swapping dollars for pesos on the black market. But paying with cash has become cumbersome because the government’s largest denomination bill of 1,000 pesos is worth about US$3. That, coupled with inflation galloping toward 100 percent, has left tourists using wads of pesos for everyday purchases….
It isn’t necessary to come with cash, the credit cards now recognise the differential exchange rate,” Tourism & Sports Minister Matias Lammens said in an email. “The dollars that before helped prop up the informal market today are going to strengthen reserves at the Central Bank.”
Until recently, using credit or debit cards anywhere in Argentina was unfavorable, as travellers would be charged the country’s much lower official exchange rate.
Now using most credit and debit cards, visitors get a much more favorable rate that is only 4-10% lower than the black market rate. Just like the official rate and blue dollar rate, it fluctuates daily.
Visitors should be aware that paying with a QR code or Apple Pay still provides the official bank rate.At the time of writing (early 2023) the black market rate for dollars is almost 100% more than the official rate.
To avoid exchanging money on Argentina’s black market to get the Blue Rate you may now just use debit and credit cards if willing to lose a little money.
We still advice to always carry some “Argentine pesos” as taxis, smaller shops, museums and restaurants may only still take these.
On arrival in Argentina you may exchange money in sites inside the international airport (open 24 hours). By doing so, you will ensure a secure transaction and have cash in case it’s needed.
Biography: https://www.batimes.com.ar/news/economy/argentinas-elaborate-ploy-to-lure-tourists-has-begun.phtml
