Argentine exchange rates

[federalexpress]

Too many cruises are leaving Buenos Aires in the coming months to raise this on a roll call but it appears the Argentine government has decided that as of now, all currency transactions using foreign Visa and Mastercard credit and debit cards will enjoy the much more advantageous 'blue rate' for the peso rather than the previous official government rate. Since the latter is roughly half the blue rate, many were using Western Union to get dollars to convert to pesos at the blue rate. Now it seems this is no longer necessary.

 

For those who have booked hotels quoted in dollars or other western currencies, it is worth checking the position. All (or the vast majority) should also have a peso rate and that could well mean your hotel (and other costs in restaurants etc) may be around half of what you would otherwise have paid, if paying by card. I have queried this with the hotel I reserved via booking.com. The booking site says you pay in the local currency (pesos) but presumably their dollar/sterling price guide was based on the old official rate, not the new much more generous blue rate.

 

It raises an interesting question as to what would be the case with excursions which are usually quoted in dollars. In theory they should now be a lot cheaper. The exception might be where you pay in dollars cash for a local guide in which case their price may already be reflecting the blue rate.

 

I believe this applies across the whole country so to any other Argentine posts to visit, where you pay by card. Your holiday may just be a little cheaper....