Selling Dollars At Bank

[Jerbo]

So I read that Argentine banks are buying dollars at almost 22 pesos per.

Why don't foreigners with dollars sell them to the bank at a higher rate than available in the cueva?

What is the impediment?

I know there must be one, because otherwise all people with dollars would sell them at the bank and cuevas would go out of business.

 

[Somewhereinba]

The blue market is giving better rates than banks..

 

[Rich One]

no record of transaction at Cueva.....

 

[Jerbo]

The blue market is giving better rates than banks..

Banco Nacion website indicates it will buy dollars at 22.7 pesos.

I just got 21.2 from the cueva.

 

[Somewhereinba]

Banco Nacion website indicates it will buy dollars at 22.7 pesos.

I just got 21.2 from the cueva.

Wait a day - they just haven't updated it. Anyway if thats the best they offer then find a blue cueva. That rate is BS

 

[RandomS]

For a few hours today the official rate was much higher than the blue rate. Probably that's what confused the OP. Peso depreciated 7.8 per cent today and I guess the cuevas didn't keep up.

 

[camel]

The cueva takes 30-60 seconds from the time you enter until the time you leave. How long does it take at the bank? At least half an hour.

 

[MilHojas]

How long does it take at the bank? At least half an hour.

You transfer online from account in dollars to account in pesos. Then you withdraw some pesos from your debit card next time you do your grocery shopping, or just use your debit card that is now accepted everywhere. No walking around with cash. No risk that you get cheated by the exchange this way or another.

 

[Ceviche]

I live long term here so i am aware of best banks and best cuevas to exchange. But I still go to the nearest cueva to my apartment...in.out in 1 minute..no hassles..rate is usually shit but you pay for convenience.

 

[camel]

You transfer online from account in dollars to account in pesos. Then you withdraw some pesos from your debit card next time you do your grocery shopping, or just use your debit card that is now accepted everywhere. No walking around with cash. No risk that you get cheated by the exchange this way or another.

Valid points, but I don't have a bank account here and I've been with the same cueva for almost 5 years, watched them get busted twice during this time, and they've never cheated me.