Exchange ARS to USD at local Bank

[Patrick1988]

Hi everyone,

It's probably a silly question, but I was wondering what the rate would be if you exchange peso to USD in a local Buenos Aires bank or whether that's actually possible?

I'm planning head down to Buenos Aires from Europe soon. I assume it's not possible to exchange 100 USD at the blue dollar rate at a cueva to get 20000 ARS, then take the 20000 ARS and get more USD at the bank? Thanks for clarifying. What's the catch?

 

[Quilombo]

Hi everyone,

It's probably a silly question, but I was wondering what the rate would be if you exchange peso to USD in a local Buenos Aires bank or whether that's actually possible?

I'm planning head down to Buenos Aires from Europe soon. I assume it's not possible to exchange 100 USD at the blue dollar rate at a cueva to get 20000 ARS, then take the 20000 ARS and get more USD at the bank? Thanks for clarifying. What's the catch?

The Government of Argentina would like you to do this very much, but you're basically paying an 89% fee by selling to the banks/exchange houses instead of caves. (i.e. on Friday if you sold at Banco La Nación you'd get around $10.100 ARS for $100.00 USD vs $19.700 ARS at a cave)

That being said, you can't convert any leftover pesos you have as a tourist unless you've legally pesified them in the first place, so you'd have to buy dollars from a cave like a regular Argentine. A good rule of thumb is to sell dollars as you need pesos, that way you don't have a bunch of worthless bills you're rushing to spend the day of your flight.

 

[jblaze5779]

First off you have to ask yourself why you would want to hold the value of your money in pesos... Would you rather have a 100 dollar bill in your pocket or your pocket overflowing with 500 pesos notes that are losing 5% everyday?

Bring dollars and change them as needed. Or better yet wu yourself money as you need it during your trip here.

 

[SecretShopper]

I think you guys are misreading his post... or I am... he is basically asking if it's possible to game the system by exchanging 100usd at blue rate for 20k.. and then turn around and trade the 20k at official rate and get 200usd back.

The answer is no btw or else everyone in the country would be doing it. I think when buying dollars you get a terrible rate of like 300 pesos to the dollar or something.

 

[jblaze5779]

That's why I say no to hold the total value of his money in pesos. And yes if this were true everyone would be doing it.

 

[lunar]

I think when buying dollars you get a terrible rate of like 300 pesos to the dollar or something.

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Ámbito es uno de los diarios económicos más leído de Argentina. Informate sobre Economía, Negocios y Finanzas.

www.ambito.com

200 pesos, not 300.

 

[Kula]

1) it is not possible to buy dollars at the bank if you don`t work en blanco (in Argentina!)
2) the limit is 200USD
3) the rate is oficial like on the website of BNA 100 pesos smthg (today) not 300 not 200
4) BUT you should add taxes (impuesto pais) its +30% and +35% so the rate will be higher

thats concerning the bank. If you are not working in Argentina or monontributista etc = buy (fake) USD on the street. Other options are dollar bolsa, MEP and other "investing" things that argentinias are using. Or go to Paraguay and buy there without restrictions and cheaper.

PS if you buy dollar oficially 35% you may(or not) get back in the end of the year, there is some declaracion/tramite for that