Charles Schwab

[Napoleon]

Napoleon, that will come in handy. Thanks.

Can you elaborate on where that number comes from and why it differs from what I find on Google Finance?

It seems that USD are in high demand in Argentina, and given the difficulty of buying USD through official channels I'm assuming that there is no shortage of people willing to exchange pesos for dollars at above official rates, but how does one find these people?

Word-of-mouth? Website? Craigslist?

X-Rates.... I don't know how they do it. But at the end of one tour with an economist from Switzerland, he used his iPhone (which he praised to no end) and looked up X-Rates to find the "real" exchange rate. Then that's how he determined the conversion. He travels all over the world for work. He knows the games governments play.

Word-of-mouth? I would say yes. And trade in small quantities unless you know the person VERY well. And perhaps you watch them withdraw the pesos from an ATM.

Website? Not that I know of.

Craigslist? Absolutely NOT! Not unless you want to get robbed. You might luck out, but I wouldn't bet on it.

 

[scarface]

... is there any reason I should bring in a large sum of US dollars?

Now you know there is an approximate 10% premium for US cash so how much you intend to spend may dictate whether you feel okay with the lower ATM rates for daily living expenses. Caveat. In 3 months I would not be surprised if 10% turned into 20%. You won't have a problem finding reliable places to trade your dollars - jewelry stores and travel agencies are prime locations (though your landlord would probably also be willing to buy dollars). Don't expect best rates when selling small amounts.

... Other reason I can think to bring USD is to negotiate a discount for short-term rentals, as I hear landlords prefer USD as an inflation hedge and to avoid taxes.

Very true. Landlords, especially independents as opposed to those working through an agency, will make you a better price if paying in US cash.

Any other boots-on-the-ground advice for minimizing money exchange fees? I'll be in Buenos Aires for three months, from February though April.

You probably know electronics are more expensive here. Bring your laptop/notebook etc. with you and you might bring an extra one/two to sell to a friend if they don't appear to be brand new when you pass through customs.

 

[Sleuth]

You can usually get at least a 10% discount off the rent if you pay USD cash upfront for 3+ months. I have done this many times.

 

[Napoleon]

You can usually get at least a 10% discount off the rent if you pay USD cash upfront for 3+ months. I have done this many times.

While true, you could get a landlord like you or you could get a landlord that's a total thief.

Actually, I wonder if paying in dollars could be bartered as an alternative to paying a deposit. Because getting a deposit back is never easy, whether in Buenos Aires, New York (as a friend just experienced two days ago), LA (as I experienced 4 years ago), in Germany (if you've been reading about the arson fires in LA, you'll know that the mother of the man in custody is accused of having a sticky finger problem with rental deposits back in Germany)...

Dollars are your friends down here.

 

[ghost]

Thank you for that link, igor.

It appears that I'm in a good position since I have a high-yield Schwab checking account linked to an investing account. These accounts have unlimited ATM rebates worldwide.

I will also be coming in through Uruguay and am told that ATMs there will distribute USD, making it less necessary to bring in USD directly from the states. Also, as a last resort I could take a day-trip back to Montevideo to collect USD from an ATM.

Any other boots-on-the-ground advice for minimizing money exchange fees? I'll be in Buenos Aires for three months, from February though April.

No....bring dollars. Any dollars you get from an ATM in Uuguay could be marked, ripped or slightly flawed in some way. Argies are paranoid and only accept perfect bills.