I posted this in the bird hunting forum, but thought that it might help someone going to Argentina, so am posting it here as well.

This probably doesn't apply to many people in here but I thought I'd post it for informational purposes.

First one has to understand that there are 2 exchange rates in Argentina, the official rate which is currently about 9 pesos/US$ and the "blue" or street rate which is currently about 13.5 pesos/US$. If you use credit cards, change money at the airport, or in a Argentina bank you will receive the official rate, which at 9 to 1 compared to 13/1 is obviously a bad deal. The "blue" rate is published in the paper every day.

The "blue" rate is used on the streets and in many shops, restaurants, etc. We saw one grocery store offering 13.5 to one for purchases only, not for exchange (we asked).
The best rate we received on the street was 13.25 to one, but we usually got 13 to one, and, before we learned the ropes, received as low as 12 to one. Some restaurants figured the bill at 12 to one, some at 13 and you can pay in dollars at that rate if you'd like. In order to conserve local cash, we usually would pay in dollars at 13 and anything less, we'd pay in pesos.

So, how do you get the "blue" rate? Well, first of all, while widely and completely ignored by the government, it is technically illegal. So, in most places where tourists are found, there are many guys standing around saying, "Cambio, cambio" (Change, Change) (shopping areas, such as Florida Street and around tourist attractions) (AFA I'm concerned there aren't many of those in BA)and you can approach them and ask the rate. If you like it, they'll usually take you to an office or in the doorway of a magazine/newspaper kiosk and make the exchange. If the offered rate is low, you can counter or go on to the next "Cambio" guy who won't be far away. I would recommend not exchanging more than $200 or $300 US dollars at one time/place. While we never had any problem while exchanging several thousand dollars worth of dollars to pesos, counterfeit pesos are not unknown.

I am told that the rate is better in BA than out in the countryside. I can't comment since all the exchange we did was in BA.

Be aware that these rates were current when we were in BA a couple of weeks back, but the dollar typically gains a small amount on the peso all the time. Argentina currently has an inflation rate of about 30%/year.

Remember, if you choose to use a credit card, charging something in pesos, you will be paying almost 50% more than if you used pesos at the "blue" rate.

BTW, while making numerous exchanges we never felt uncomfortable or unsafe, but, obviously, one has to use a modicum of common sense and I wouldn't exchange money at night unless it was in a well traveled, well lit area with lots of people around. Also, unless you're immediately taking a taxi, it MIGHT make you a target for people with evil intentions. This is not common and, to repeat, we NEVER felt unsafe changing money or any other time in BA, but it doesn't pay to get stupid anywhere. Be careful out there.

I've been hunting intermittently in Argentina, and Uruguay since the early 80s and have had the opportunity (?) to pay with all 4 of the modern currencies they've used in Argentina since 1970. The inflation was horrible at times, and thanks to the government which froze bank accounts, stopped foreign exchange, etc etc it absolutely destroyed the hard working middle class of Argentina. At a fairly well know steak house in Buenos Aires, Las Nazarenas, taking into account the current rate of exhange, I've paid everything from about $7 to about $60 for basically the same meal, a lomo steak, bottle of mid-priced wine, and french fries. Right now, it comes in at about $50 more or less. which based on history may indicate a change in currency before long. All steak dinners worth it, I might add. There are better places cheaper but we ate there for old times sake.

At any rate, we started with what they now call the new peso (officially the peso ley, started circulating in 1970) in about 1982, then the new new peso (peso Argentino) from 1983 to 85, then the Austral from 85 to 1991, and then the new, new, new peso (officially the peso convertible) starting in 1992 to date.

That might be hard to follow, but the rate of exchange and the loss of value to the Argentinians was even harder to swallow.

Here is how it played out:

In 1970, the new peso (peso ley) replaced the old peso (peso moneda nacional which had been the currency since 1881) at a rate of 1 new peso = 100 old pesos.

In 1983, the new new peso (peso Argentino) replaced the old new peso at a rate of 1 new new peso =10,000 old new pesos.

Then in 1985 the Austral replaced the new new peso (peso Argentino) at a rate of 1 Austral = 1000 new new pesos.

Then in 1992 the new new new peso (peso convertible) replaced the Austral at a rare of 1 NNN Peso = 10,000 Australes.

Since that time, the NNN peso (peso convertible) has steadily declined in value against the dollar and other hard currencies.

If you haven't been able to follow all the zeros, it means that a 10 TRILLION old pesos in 1970 would have been converted into ONE new new new pesos (peso convertible) currently worth about 7 1/2 cents. Fiat currency is a belief system and if people lose belief, usually due to government actions, it loses value, often rapidly.

$10,000,000,000,000 old pesos equal $1 new, new, new peso.

It's crazy how the government won't recognize the inflation. The highest note being a 100 and the coins are a joke.

Pretty much as Gato said... thou there not two but five Exchange rates concerning USD in Argentina... but for practical uses, Gatogordo´s mentioned two are the ones to be considered...

Blue (not bleu, english not french ) is the one you have to consider... know its value when making your financial transactions , thou it is rather a reference than an exact Exchange rate... offer and demand ´s law rules here aswell as pretty much all over the world... just decide where and which your needs are, changing not more than a couple of hundreds USD each time. Just take care and show yourself confident and savvy when doing so

You're right about the "blue" vs "bleu" being correct. I am going back and changing it now. I'm not sure where I got the "bleu" from, perhaps I was reading about it in French?

I'm assuming that your hunting (lodging, gun rental, shells, etc.) was priced in US Dollars and not impacted by the "blue" vs. official exchange rates?

I see that today's official rate is just under 9.2 according to XE currency website. I wonder if there is a website which keeps tabs on the blue rate?

I experienced something similar in Jamaica back in the late 70's, but the differential between official and street was even greater. Different rates on the street (always favoring the hard currency) are common wherever the local currency is shaky.

I can only speak of one lodge, but it was priced in U.S. Dollars. There was not adjustment for the fluctuations.

I certainly don't have knowledge of all Argentina outfitters, but all of the ones I know of that cater to American hunters price everything in dollars.

Obviously on many of these, what I refer to as "soup to nuts" hunts, the hunter wouldn't need pesos at all. Normally he/she would be under the auspices of the outfitter from arrival in Argentina until departure.

However, some hunters like to venture off the reservation, such as sampling some of the delights of BA (of course, most of the bipedal variety are typically priced in dollars as well) or other places in Argentina. Again, if they use a credit card for some payment in pesos, they will be paying about 50% more than if they used "blue" pesos.

quote:

Originally posted by Gatogordo:
You're right about the "blue" vs "bleu" being correct. I am going back and changing it now. I'm not sure where I got the "bleu" from, perhaps I was reading about it in French?

quote:

Originally posted by Gatogordo:
I certainly don't have knowledge of all Argentina outfitters, but all of the ones I know of that cater to American hunters price everything in dollars.

Obviously on many of these, what I refer to as "soup to nuts" hunts, the hunter wouldn't need pesos at all. Normally he/she would be under the auspices of the outfitter from arrival in Argentina until departure.

However, some hunters like to venture off the reservation, such as sampling some of the delights of BA (of course, most of the bipedal variety are typically priced in dollars as well) or other places in Argentina. Again, if they use a credit card for some payment in pesos, they will be paying about 50% more than if they used "blue" pesos.

I guess that you might consider and think about this curious subjet (for northern countries ) ) of inflation and local money (peso) depreciation just the other way you are considering it...

The peso is worth just very little more than nothing.... try to exchange some pesos to dollars in any place but south america and you will only receive a big laugh and the very same pesos in return...

Argentina´s economy needs dollars. Physical dollars. Papers. Not just a mere transaction but true, green, palpable dollars

Your hunts will surely be charged in dollars so no matters which exchange rate will you considered, none will be applied - since most probably "pesos" will not be considered as a payment option (nevertheless ask your outfitters )

But as Gatogordo (fatcat ) said, wnhen venturing off the reservation (off there where the peso has its legal place and appliance), true money talks more convincingly .

That´s where your knowledge of the "blue" exchange rate will be applied, since prices will be charged and collected in pesos´ terms.... and, as said, offer and demand ´s law rules here aswell as pretty much all over the world... and your bounds will be settled in between your lowest exchange rate which is the official rate, and the highest: the "blue" one - just decide "where and which your needs are, changing not more than a couple of hundreds USD each time. Just take care and show yourself confident and savvy when doing so

quote:

Originally posted by Stonecreek:
(....)

I wonder if there is a website which keeps tabs on the blue rate?

(...)

Just amongst many others:

http://www.preciodolarblue.com.ar/
http://www.dolar-bluehoy.com/
http://www.dolarblue.net/

Aswell as major local newspapers' websites (la nacion, bae, el cronista, etc)

Hi, just a quick update on this topic.

The situation changed this year in Argentina with the new government.

Although the blue rate still exist, you can change dollars in banks too.

In this website you can check not only the "dolar blue" rate but also the one offered in each bank:

dolar

Hope it helps someone!

Last trip to BA we had a tour guide that took the girls shopping. We knew her well from many previous visits. We gave her several thousand dollars to exchange.
Paid the hotel bill and restrants in pesos. Saved a lot.

Unfortunately it sounds like new administration is not living up to hopes...

quote:

BUENOS AIRES, Dec 12 (Reuters) - Argentina's peso currency weakened 0.62 percent to an all-time low of 16.1 per U.S. dollar on Monday as residents of the South American country sought dollars ahead of year-end holiday vacations, local foreign exchange brokers said.

President Mauricio Macri took office a year ago after winning office on a free-markets platform. He allowed the peso to float on the foreign exchange market, scrapping years of currency and trade controls that had scared off investors.

Macri promised a wave of foreign direct investment would enter Argentina during 2016. But it remains low with the economy stuck in a recession and household purchasing power slammed by annual inflation expected by economists to end the year at 40 percent.

Hi my friends ,we are doing good ,at least we have a conservative president whom is a close friend of Donald Trump .Economy is recovering pretty fast inrural an farming communities but it will take sometime to heal the disaster of Kirchner family .
New goverment Anmac -dedicated to control guns -is Natalia Gambaro besides being beautifull is strongly pro gun sports hunting and shooting and bkacks defense guns .Bear in mind that the lft wingers Kirchners are stil in the senate .But we are doing very good .

quote:

Originally posted by juanpozzi:
Hi my friends ,we are doing good ,at least we have a conservative president whom is a close friend of Donald Trump .Economy is recovering pretty fast inrural an farming communities but it will take sometime to heal the disaster of Kirchner family .
New goverment Anmac -dedicated to control guns -is Natalia Gambaro besides being beautifull is strongly pro gun sports hunting and shooting and bkacks defense guns .Bear in mind that the lft wingers Kirchners are stil in the senate .But we are doing very good .

Yes. My fear is that Cristina might get the presidency again.

NEVER jeje she has 80 percent of the population against her .Macri will stay a period more and then i believe even a more consevative candidate is on the way

quote:

Originally posted by juanpozzi:
NEVER jeje she has 80 percent of the population against her .Macri will stay a period more and then i believe even a more consevative candidate is on the way

That's great news. I did hear the speculation that she is not finished. I'm glad her assets are now frozen.