Foreign credit cards and the MEP rate

Sojourner

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I am not in a position now to test this out, but will pass it on for those who might benefit. From the October 1 BA Times:

In a move aimed at raking in tourism dollars, tamping down the informal exchange market and boosting Central Bank reserves, the government has announced it will offer visiting travellers a more lucrative exchange rate on card purchases.

Under the new rules, which kicked in yesterday, foreign tourists who do not reside in Argentina and use non-Argentine issued credit and debit cards will be able to access an exchange rate similar to the ‘Dólar MEP’ (Mercado Electrónico de Pagos), which midweek stood at around 292 pesos per dollar – much higher than the official rate of 158 pesos per dollar currently applied to purchases made in Argentina by payment methods issued overseas.

Effectively, the measure introduces an exchange rate 90 percent superior to the official one applying to all tourist expenses in the country, including excursions, meals and tourist packages. Under the new rules, which kicked in yesterday, foreign tourists who do not reside in Argentina and use non-Argentine issued credit and debit cards will be able to access an exchange rate similar to the ‘Dólar MEP’ (Mercado Electrónico de Pagos), which midweek stood at around 292 pesos per dollar – much higher than the official rate of 158 pesos per dollar currently applied to purchases made in Argentina by payment methods issued overseas.

There is more: https://batimes.com.ar/news/economy...to-tempt-tourists-in-search-for-dollars.phtml
 
Sorry – I think this is new wine in old bottles and the BA Times was re-printing an old article. Why they might do this I have no idea, but I recommend suspending belief.
 
Sorry – I think this is new wine in old bottles and the BA Times was re-printing an old article. Why they might do this I have no idea, but I recommend suspending belief.
Still it is nice to look back to remember how difficult is was before the date of the article. That was in November, 04 2022. It has made a significant difference in easing tourists and expat spending in argentina. Still not the best rate, though pretty close
 
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