Exchanging Currency

[Wild Walleye]

I have a question: if you bring more than $10,000 into Argentina and declare it what are the issues. Will Argentina tax the money? Will they track the money so it will be difficult to exchange at the blue rate on Florida Ave? Any other issues I am not thinking of.

Keep that cash in a US bank and draw it as needed via an ATM card.

[Omegaman]

Keep all of your money in dollars until the moment before you plan to spend it.

I have a question: if you bring more than $10,000 into Argentina and declare it what are the issues. Will Argentina tax the money? Will they track the money so it will be difficult to exchange at the blue rate on Florida Ave? Any other issues I am not thinking of.

[Wild Walleye]

Seriously considering moving to BA in early 2021. I just want to make sure about some stupid questions I have. What would be the problem with taking a monthly ferry to Montevideo and taking out $1500-$2000 out of the bank in USD. Then taking it back to BA and exchanging it at a Cambio for pesos.Then deposit the pesos in an Argentine bank account. With the present rate being 72 official/132 blue, the 70+% spread makes the monthly trip worth it.

But it sounds too good to be true. Why doesnt everyone do it? Hell, why dont the Cambios do it? Please burst my bubble and tell me the reality of my plan before I get my hopes up too high. Or hell....maybe one of you guys can try it, in which case, youre welcome. .

Keep all of your money in dollars until the moment before you plan to spend it.

[Questner]

Maybe Argentinians have half of a trillion in USD under mattresses and more in Montevideo.

These rates are relevant for today August 4, 2020 and the mechanism will likely change in the future.

The official dollar (dólar official) is trading this Tuesday, August 4, at $ 71.86 for purchase and $ 76.84 for sale in banks.

As for the blue dollar (your black market or street dollar) (dólar blue), this day is trading at $ 131.00 for the purchase and $ 136.00 for the sale. Thus, it marks a gap (la brecha) of 82% with respect to the official dollar. The value of the blue dollar has a substantial difference with the official dollar, which is purchased from banks and has an established price.

On the other hand, the tourist dollar (also known as the solidarity dollar)( dólar turista /dólar solidario) is trading at $ 99.45. This value is the one used when buying dollars for savings or for making transactions abroad (using credit or debit cards) and it’s higher by 30% of the value of the official dollar of the day.

Another exchange rate is the wholesale dollar (dólar mayorista), which starts the day at $ 67.80 for purchase and $ 67.80 for sale.

In relation to the Cash with Liqui (CCL)( Contado con liqui CCL), the reference price is $ 116.01. The CCL is the operation that allows companies to buy Argentine issued financial instruments in the local market and sell them abroad in order to use foreign currency for "hoarding".

How many types of dollar are there in Argentina?

Today in Argentina there are at least six different types of quotes for the US currency, some more used than others.

1) Savings dollar / card or tourist / solidarity dollar (Dólar ahorro/tarjeta o dólar turista/solidario): it has a surcharge of 30% imposed by the Government on purchases made with a card in foreign currency and on the acquisition of foreign currency for savings ("atesoramiento") within the official circuit.

2) Blue dollar (dólar blue): these are banknotes sold in the informal market, through what Argentinians call “caves” or “little trees” (cuevas o “arbolitos”) on the street.

3) Counted with Liqui: (Contado con Liqui): it is a legal operation to get dollars abroad. It has became the preferred path for companies. Argentine stocks or shares are bought in pesos and then sold abroad in dollars.

4) Official or retail dollar (Dólar oficial o minorista): it is the price that individuals can access but always within the US $ 200 monthly limit (cepo).

5) Wholesale dollar (Dólar mayorista): it is the one used for foreign trade, the payment of debts denominated in USD and dividends. Theoretically, it is the one that influences the pricing of imported products.

6) Dollar for industry and services (Dólar para industria y servicios): due to the effect of withholdings, exporters of manufactures and services actually receive a dollar at a lower value than the official one, and much lower than the blue one. Within this category, there are different values for those who export meat and dairy products, for wheat, corn and sunflower and for soybeans.

[Vampire]

Seriously considering moving to BA in early 2021. I just want to make sure about some stupid questions I have. What would be the problem with taking a monthly ferry to Montevideo and taking out $1500-$2000 out of the bank in USD. Then taking it back to BA and exchanging it at a Cambio for pesos.Then deposit the pesos in an Argentine bank account. With the present rate being 72 official/132 blue, the 70+% spread makes the monthly trip worth it.

But it sounds too good to be true. Why doesnt everyone do it? Hell, why dont the Cambios do it? Please burst my bubble and tell me the reality of my plan before I get my hopes up too high. Or hell....maybe one of you guys can try it, in which case, youre welcome. .

This is exactly what expats were doing for years before the official rate and blue rate came together in December 2015 under Macri. The lines at the ATM's in Colonia del Sacramento would be long and would sometimes run out of dollars. Why isn't everyone doing it? You have to have a bank account in USD and I do not think this is possible for Argentines. I think a roundtrip ferry to Montevideo is something like 150-200 dollars, which isn't exactly cheap, for an Argentine at least. Also, the number of expats living in Argentina is down. Buenos Aires was alot more fun in 2013-2014 than today. Every time I go back it is more headaches.

[WorldTravel69]

I was there in 2001 when the banks closed.

Luckily I Dollars on me to get home.

Good Luck with that thought.

Seriously considering moving to BA in early 2021. I just want to make sure about some stupid questions I have. What would be the problem with taking a monthly ferry to Montevideo and taking out $1500-$2000 out of the bank in USD. Then taking it back to BA and exchanging it at a Cambio for pesos.Then deposit the pesos in an Argentine bank account. With the present rate being 72 official/132 blue, the 70+% spread makes the monthly trip worth it.

But it sounds too good to be true. Why doesnt everyone do it? Hell, why dont the Cambios do it? Please burst my bubble and tell me the reality of my plan before I get my hopes up too high. Or hell....maybe one of you guys can try it, in which case, youre welcome. .

[Tyrell]

Seriously considering moving to BA in early 2021. I just want to make sure about some stupid questions I have. What would be the problem with taking a monthly ferry to Montevideo and taking out $1500-$2000 out of the bank in USD. Then taking it back to BA and exchanging it at a Cambio for pesos.Then deposit the pesos in an Argentine bank account. With the present rate being 72 official/132 blue, the 70+% spread makes the monthly trip worth it.

But it sounds too good to be true. Why doesnt everyone do it? Hell, why dont the Cambios do it? Please burst my bubble and tell me the reality of my plan before I get my hopes up too high. Or hell....maybe one of you guys can try it, in which case, youre welcome. .

[BayBoy]

I got 110 on monday on santa fe.

Thanks for the info. I was wondering if anyone has gotten as much as 120 say on Florida?

[Carlotx]

Just wondering what exchange rate people are getting for the dollar for the Blue Rate against the Peso now a days at the exchange houses. Can you get 120 pesos to the dollar?

I got 110 on monday on santa fe.

[BayBoy]

Just wondering what exchange rate people are getting for the dollar for the Blue Rate against the Peso now a days at the exchange houses. Can you get 120 pesos to the dollar?

[Macgoo]

Ignore those Arbolitos; best rate and comfortable exchange inside travel/tourist agency on Lavelle, off Florida. This agency is inside a tiny mall, that you will recognize by the miniature BMW sitting in the lobby. The agency is in the back and facing the street. I prefer this because there is a separate room for exchanging money, without rush and they use a counting machine that would kick-out any fakes. Been getting between 74 and 76 for the last 2 months! Others must wait in outer room until you have comfortably counted and put away your stash-of-cash.

[Questner]

5 pesos banknotes will not be in use after March 1, 2020.

[Boston]

Got 75 on Florida on 2/21.

Went to another shop on 2/22 and got 76.

Where on Florida? A hawke or regular place?

Thanks.

[Dingu]

Hey guys, I'll be in town next weekend and I would like to exchange some money.

I have never exchanged money there before so I don't know where the best places are. I will be staying in the cordoba and 25 de Mayo area.

Does the exchange places require ID? Do I need to take photocopies of my ID?

Does though exchange places give the blue dollar price or official?

Any help you guys can give will be much appreciated!

[Spanky28]

Got 75 on Florida on 2/21.

Went to another shop on 2/22 and got 76.