Black Market Money Exhange

The first order of business in Salta was to exchange money for Argentinean Pesos. For a couple of years now Argentineans have lost faith that their peso will hold it’s value. The preferred currency is US Dollars, which gives people with US Dollars a great advantage.
It’s called the Blue Dollar, it’s the unofficial/black market money exchange. The official exchange rate for dollars to pesos is 1USD = 7.78.
But on the black market the rate is as much as 1 = 12. The only problem is you can’t get US Dollars in Argentina easily. The last chance to get US Dollars easily is ATM’s in La Paz, Cusco, and Lima. In Salta the money changers are everywhere by the main plaza. I walked around until I found a guy to give the best rate. They first offered 10 but a minute later I had talked them up to 11.5. If you have hundred dollar bills you’ll get a better exchange than smaller bills. For hundred dollar bills I got 11.5 pesos per dollar. For the twenty dollar bills I got 10.5 pesos per dollar. There was no shady back room deals, simply sat at a cafe table in the middle of the busy plaza and made the exchange. I was surprised to see that the “Blue Dollar” rate is even printed in the papers and mentioned in the news on TV.

If you’re traveling from the US or even other countries, Argentina is the worst place to use your credit or debit card for purchases. You will get an even worse rate than the official rate plus the fees you have to pay.

IMG_5377

IMG_5379

Email Newsletter

Comments

  1. Alan says

    The only thing to watch for is that you do not get counterfeit Pesos in return. My daughter did not watch closely enough…

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>