I did that with a Cambio today in Uruguay...........Took in US dollars and got Uruguayan Pesos, and then later, took in Uruguayan Pesos and got US dollars. It works in Uruguay, but I will find out if it works in Argentina next week.

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00abuse

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panamajames,

Here's the rub, I have over 100,000 AR pesos sitting in Argentina. I am not sure Uruguay even accepts AR pesos???

I could probably buy US Dollars in Argentina but at AR 50 - AR 20 pesos per 1 US Dollar.

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00abuse

oops, that 15 - 20 pesos per dollar.

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00abuse

Yes, I went into a Cambio today in Uruguay, Punta del Este, and the Argentina Peso was listed on the board to buy and or sell. Also, I went to the Conrad Casino tonight and they will change your foreign money to American dollars, so that you can play in their machines, which are all American dollar oriented. The machines only accept American bills. It is a big Casino and Hotel, world class. They have their rates, but at least you can exchange all your Pesos for American dollars, as they expect that you will play all night with those Yankee greenbacks. But of course, you can just head back to Argentina with the US dollars and trade it 14 to 1 in Buenos Aires. There is another Casino here as well, the Nogaro which may do the same. I will see if I can find the Argentina Peso buy and sell rate for US dollars. Probably similar to the bank, 8 to 1

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00abuse

The current rate for buy and sell Argentina Pesos into US dollars is 140 and 240 in Uruguay

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00abuse

Panamajames,

Thanks. So basically it's the "unofficial rate" whatever that may be at the time. That still leaves me the problem of can I convert as much as AR 100,000 pesos and how do I bring the money back to the USA?

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00abuse

The first thing I do is get an international bank account such as HSBC or Scotiabank.

Bringing back money into the US can be easy or difficult, depending on how you are setup or positioned. Here is what I would do.

I would put all the US dollars onto my credit or debit card, at a bank, which is currently in US dollars. Essentially pay into it, like you are paying it off or paying it down.

You can have a positive balance with no worries. Many people in business put thousands on their credit card, in advance of purchases, so they never run the card beyond its limit.

There is a Scotiabank International bank in Uruguay as an example. Maybe an HSBC as well. A great bank and card to have is Banco Azteca from Mexico and attach a debit card to it.

If the questions come up as to where the dollars came from, I generally will use a statement like, it is my retirement savings. If they want to know where it was 10 days ago, then you may or may not have the answers. If you won it at a Casino, they might want a receipt from the Casino. If it was under your mattress, then you have to come up with a source. Maybe a friend bought something of yours and can give you a receipt. I do not know your situation.

Be creative and understand the banking laws around you. Small amounts under $10,000 can sometimes fly under the radar. You have to experiment perhaps.

Many people in Argentina, have their bank accounts in Uruguay, as they do not trust the banks in Argentina. There is always an answer...........thinking cap time.

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00abuse

Panamajames,

Thanks for the great info.

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00abuse

I had money transferred to Mendoza via XOOM last week and it was easy. The maximum you can transfer at one time is $US2900 but you can do multiple transfers. My manager picked yup the pesos in Mendoza without a problem. The cost of the transfer was an additional $30 and the rate was less than the blue rate at 11.45 pesos/$.but better than a bank transfer.

Mike

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00abuse

Mike,

Thanks for the info and I have use Zoom to wire money into Argentina.

But we have the flow of the currency going the wrong way. I want to convert pesos in Argentina into US currency and then bring it back with me.

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00abuse

Yes Tom I may have the same problem in the future. I will need to change some dollars when I come down in March, about US5K so let me know if that will help.

Mike

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00abuse

Mike,

I own vineyards in San Rafael and will be there about mid March through mid to late April depending on when the grapes are ready to be harvested. Maybe we can meet.

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00abuse

Tom.
There is one way to convert that the "unofficial mayor" (Name of Tom if you know who I am referring to) in San Rafael uses that sounds good. You have a bank account in the states and if someone in Argentina deposits money in your account there you give them pesos after you get confirmation from your bank that the money has been deposited, There are enough expats in San Rafael that need pesos and would be happy to get a slightly better rate than the "blue". Sort of like a private XOOM system.

Mike

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00abuse

Arrived in Buenos Aires today. Best rate I found for exchange was 12.30 so if anyone knows of a better place or person, let me know. It was 12.50 yesterday they said, so it could be that the rates are moving down. Maybe gold up and US dollar on that teeter totter, down. PM me or email panamajames@gmail.com Looking for some great rates. Cheers. Jim

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00abuse

Xoom is a great way to transfer money from a Citibank to a Citibank, and I just ran across one here in Buenos Aires. Xoom is a Citibank function and works world wide.......I have used it extensively. There are so many money market places here...........

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00abuse

Follow the exchange rate here

"'Blue' dollar sinks to 12.70 amid control fears; formal rate steady" (12.70 is sell rate), youll get more the more US$ you sell.
http://www.buenosairesherald.com/article/176971/blue-dollar-sinks-to-1270-amid-control-fears-formal-rate-steady

and here
http://www.ambito.com/economia/mercados/monedas/dolar/

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00abuse

Thank you for this........I was wondering why the price had dropped recently.........

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00abuse

The spread between the "Official: rate, about AR 8.5 pesos per 1 US Dollar and "Blue" rate of AR 12.5 is for a myriad of reasons including loans for China (billions) to help Argentina shore up it dwindling reserves, hundreds of millions or even billions of dollars of investment in vaca muerte where all the shale oil and gas is located, AFIP (the IRS of Argentina) vigorously pursuing tax cheaters including individuals and corporations and the latest IMF posture regarding Argentina's economics which is more positive than before.

Also, President Christina will be out of office one year from today and many people and companies can wait for that to happen.

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00abuse

Thank you tomP for all of those explanations why the Argentinian dollar is costing more these days than it did a few weeks ago. So, put on your crystal ball if you will and predict for everyone, if you can...................is the Argentinian Peso rising or falling against the US dollar.........and what will be happening in the next few weeks. Cheers. Jim in Buenos Aires, Argentina

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00abuse

Panama,

I guarantee, plus or minus 100%, that the pesos will get stronger against the US Dollar in the short term. The U.S. Dollar will buy less pesos.

Regarding long term, i.e. for the remainder of President Christina's reign, if she passes anymore crazy laws, the peso could weaken against the dollar.

Also, oil has a lot to do with it as Argentina imports a lot of oil and when oil drops under $60 a barrel Argentina saves hundreds of millions and is able to maintain its reserves at around 29 billion.

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00abuse

I will be in argentina in 3 weeks, if you are still there I would exchange my american cash for pesos...

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00abuse

Thank you tomP for your crystal ball gazing. I believe I agree with you. Since I have been here in Buenos Aires, in the past few days, the US dollar paid 12.5 when we landed, then 12.3 yesteday, and today 11.7 Pesos, so it appears to be heading downwards. Time to buy a bunch tomorrow............

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00abuse

January 1st or thereabouts, I will have a bunch of Argentina Pesos to buy US dollars if you like. You can contact me by email panamajames@gmail.com and we can get together.

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00abuse

We bought some more Argentinian Pesos today and were pleased that the rate jumped back up to 12.3 at our local location. There are many locations around us and we are finding more every day in Buenos Aires. Many are different rates as well. We are finding that the rates range from 11 to 12.3 currently although I have seen the official Blue Dollar rate is at 12.7, but we know these folks don´t do it for fun and they have to make a business of it.

Argentina is an amazing place for being an entrepreneur. You can buy anything you want on the street, and the Market we went to on Sunday, the San Telmo market, is 10 blocks of sales down Defensa street starting at the Plaza de Mayo.

If you want a great restaurant, check out the Rising Sun on 722 Defensa. On the left, about 6 or 7 blocks from Plaza de Mayo, just before Calle Independencia.

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00abuse

"and the Market we went to on Sunday, the San Telmo market,"

Jaime, in the San Telmo market you can have your wristwatch stolen and buy it back 10 minutes later at a discount price :)

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00abuse

San Telmo's Defensa is where one of President Bush's girls had her purse stolen.
However, that being said my wife and I rented a furnished apartment for three months in Sam Telmo and never encounter any problems.
Of course that was a few years ago when there were AR 3.5 pesos to 1 US Dollar.

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00abuse

San Telmo's Defensa is where one of President Bush's girls had her purse stolen.
However, that being said my wife and I rented a furnished apartment for three months in Sam Telmo and never encounter any problems.
Of course that was a few years ago when there were AR 3.5 pesos to 1 US Dollar.

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00abuse

Good words from SaintJohn. Protect yourself from theft. Don´t wear an expensive watch or jewelry of any kind, velcro one of your pockets shut with your money in it, and maybe a cel phone to tell the time, and walk around footlose and fancy free. Wear a necklace bag around your neck, down your shirt to hold money and credit cards. Lots of ways to protect yourself. You can take a backpack and wear it on the front if you plan on picking up a lot of treasures. We spent some time, searching the net for ways to prepare ourselves for the dangers of petty theft in our travels. There is danger everywhere, you just have to take precautions. Be prepared.

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Two warnings if you are visiting Argentina, pickpockets on the subway and squirters on the street.

A pickpocket's modus operandi is distraction. We were on a crowded subway in BA when a man who appeared drunk entered our car. He held a large bunch of keys on a key chain and after making sure everyone was looking at him he dropped the key chain and with great difficulty attempted to retrieve it (the distraction). After a couple of fumbling attempts he was successful and when we arrived at the next stop and the subway doors opened the man left.
Within a minute of two a man (foreigner) started to welp that his wallet was gone...

Squirters are more innovative. They prey upon women or a couple by suddenly coming up from behind and in Spanish tell you something spilled on your jacket. You look and there is "goo" on your back. This happened to my wife and I by a woman working alone, except for her accomplice who I am sure was lurking nearby. When stopped by the woman my wife had paint or something on the back of her jacket. The woman kept pointing upward like maybe it came from a ladder. She kept trying to get my wife to put her purse down while she helped clean my wife's jacket with a cloth. My wife would'nt part with her purse and I inspected what was on the back of her jacket to discover it was lotion. The works when the woman or accomplice squirts the lotion on your back and begins to work the scam. If you let go of your purse the accomplice comes out of nowhere and steals it. Don't laugh, it works and we have been hit three times with this ploy.

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00abuse

Perfect timing for Argentina to resist against the money market tyranny.

Latin America to open the road for other countries to escape from debt slavery by system failure.

Probably the most significant reason for which the Western sanctions against Russia will eventually turn against the West itself, or more accurately, against the Western economic elites, is that they forced Russia and China to accelerate their plans to build their own geopolitical and economic frame.

Just when Argentina was in the corner and the ravens were ready to devour the country*, BRICS's movements to establish their own economic system, offered to Argentina an alternative to escape from the Western money market monopoly. This was probably a key factor that permitted Argentina to resist:

“A US court has backed the vulture funds; Argentina sidestepped its jurisdiction by transferring the trustee for payment from Bank of New York Mellon to its own central bank. That play, if approved by the Argentine Congress, will allow the country to continue making payments under its 2005 settlement, avoiding default on the majority of its bonds.”

“Argentina is already foreclosed from international capital markets, so it doesn’t have much to lose by thwarting the US court system. Similar bold moves by Ecuador and Iceland have left those countries in substantially better shape than Greece, which went along with the agendas of the international financiers.”

“Countries do need to be able to buy foreign products that they cannot acquire or produce domestically, and for that they need a form of currency or an international credit line that other nations will accept. But countries are increasingly breaking away from the oil- and weapons-backed US dollar as global reserve currency.”

http://www.commondreams.org/views/2014/08/25/colonization-bankruptcy-high-stakes-chess-match-argentina

Unlike Greece and its puppet government which are fully surrendered to the Western capital** which systematically destroys the country to benefit from this destruction, Argentina and Latin America approach the resistance side:

“Latin American countries, however, condemned the West’s attempts to isolate Russia and said they would not take any measure against their longtime ally, Russia.”

“'The region is one of the biggest food producers of the world and…US and EU protectionism hinders its international trade. That is why I don’t think this EU countries diplomatic pressure will have any effect. How can they ask us not to trade with Russia while they block our products into their markets,' Jorge Castro, an international analyst, told Press TV.”

“Brazil and Uruguay have already confirmed an increase of exports of meat and dairy products. Argentine government has also sent a senior official to the Russian capital to sign cooperation agreements.”

“'We are going to expand our agricultural production and finance new companies in this sector. We are the fifth food exporter in the world and this administration’s intention is to increase even more our trade capabilities,' Argentina’s Chief of the Cabinet of Ministers Jorge Capitanich said.”

http://www.presstv.ir/detail/2014/08/26/376647/latam-russias-alternative-trade-partner/

Western block's actions not only failed to isolate Russia, but seems that managed to expand Russia's and China's geopolitical influence.

http://valdaiclub.com/russia_in_foreign_media/70082.html), (http://www.world-nuclear-news.org/NP-Russia-and-Argentina-sign-nuclear-power-agreement-14071401.html

It's not the first time that the "brilliant minds" of various think tanks miss the target so profoundly. Their "brilliant idea" to support the neo-nazis in Ukraine to put Russia in the corner, is turning now against them.

The desperate neocon hawks have now only one alternative, which is to drag Russia into a warm conflict, but the growing chaos in the Middle East (which is largely their fault) and the ISIS threat, forced them to drop the Russian front and hypocritically seek alliance even with Bashar al-Assad and Iran to deal with the problem of the so-called Islamic State.

http://failedevolution.blogspot.gr/2014/08/temporary-turn-of-180-degrees-by-neocon.html

This is a unique opportunity for Argentina and Latin America to show to other debt-enslaved countries that there is an alternative against the money market tyranny.

* “Where territories were once captured by military might, he maintains that today they are being annexed by debt. The still-evolving plan is to drive destitute nations into an international bankruptcy court whose decisions would have the force of law throughout the world. The court could then do with whole countries what US bankruptcy courts do with businesses: sell off their assets, including their real estate. Sovereign territories could be acquired as the spoils of bankruptcy without a shot being fired.”

“Global financiers and interlocking megacorporations are increasingly supplanting governments on the international stage. An international bankruptcy court would be one more institution making that takeover legally binding and enforceable. Governments can say no to the strong-arm tactics of the global bankers’ collection agency, the IMF. An international bankruptcy court would allow creditors to force a nation into bankruptcy, where territories could be involuntarily sold off in the same way that assets of bankrupt corporations are.”

“For Argentina, says Salbuchi, the likely prize is its very rich Patagonia region, long a favorite settlement target for ex-pats. When Argentina suffered a massive default in 2001, the global press, including Time and The New York Times, went so far as to propose that Patagonia be ceded from the country as a defaulted debt payment mechanism.”

“Many countries have been subjected to similar treatment, as John Perkins documents in his blockbuster exposé Confessions of an Economic Hit Man. When the country cannot pay, the IMF sweeps in with refinancing agreements with strings attached, including selling off public assets and slashing public services in order to divert government revenues into foreign debt service.”

http://www.commondreams.org/views/2014/08/25/colonization-bankruptcy-high-stakes-chess-match-argentina

** A short story of how a country can default in a few days

An example of how the banking cartels control countries

Greece: The only "public" in banks is the debt that will be loaded on future generations!

How to transform an independent country into a banksters colony

Another proof for the fact that Greece has been sold to banksters

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00abuse

Thanks tomP. I have heard about the squirters from a good friend of mine who recently returned from Argentina, and was attacked that way twice.

We have also heard warnings about the subway and were a bit unsure about using it. I have been in subways all over the world, and of course the big cities have the pick pockets and thieves and they all have their methods. Don´t be a victim.

Leave your jewelry at home, no purses as they are direct targets, wear a money belt under your clothing, velcro a pants pocket shut for safety, keep credit cards and money in a necklace pouch.

There are many ways to be safe in the inner cities. I use all the tricks and that allows me to travel footloose and fancy free. You can do it too.

I am riding the subways all day and night now in Buenos Aires with no fear of theft. I am learning the city very well now. Don´t be afraid, be aware and careful. I walk the streets at night now, and feel comfortable.

It wasn´t that way, my first night, but now I understand that it is just another city, just like the city I was in before I came here.

Use caution and care, and alway be prepared for anything that could occur. If you carry a lot of cash, make sure it´s in the daylight and there are others around you.

When bad things happen to good people, they usually can think of ways that the situation could have been avoided. You want to use that thinking, before the incident happens.

I love to hear the petty theft stories as it helps to plan my personal safety.

Let´s make a topic on how to remain free of petty theft while in the city, or in the country, or in another country. There are countless way to fight against common theft and petty crime.

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10abuse

Sure, James, you lend me US$ 10,000.

Three years after I should have paid you back, I offer to pay 2,300 - you are happy, ain't you?

I have thousands of pages actual documentation, US Supreme court rulings, UK Supreme court judgements, list of thousands of people who got conned (the total was above 500,000), how Argentina continued issuing bonds, while the country was safeguarding against their assets getting confiscated by courts in foreign countries and while Argentina were arranging payment to their dipolomatic corps, how the Argentine government is telling scores of lies against their own documentation, etc. etc.

Do note that a bond is a contract, an obligation to pay - nothing like a share.

When you have spent a couple of years studying the subject (as I have), tell us about it.

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00abuse

Oh, and the 2,300 I offer to pay you?

No negociations, it's a "take it or lose everything".

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00abuse

I appreciate the education SaintJohn. Just reading and learning as I go. I have North America and Panama figured out. Just being schooled about South America and in particular Argentina and you sound like the person I need to continue my education. Appreciate your input. Helps me dig a little deeper and learn in the process. Hope that you don´t mind some questions from time to time. Cheers. Jim in Buenos Aires, Argentina.

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00abuse

The was an NPR article that stated that foreigners had to pay for transportation in Argentina with dollars. Does this include bus travel? Oldcopper

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00abuse

By the way, the US dollar is going up today and the Peso is going down. I bought 12.5 Pesos for an American dollar today. It was 12.3 yesterday. The official rate is around 13.1 and can be seen on various websites. I like this Twitter one because it lists the Peso value versus the US dollar daily. There are dozens of charts and sights, nearly as many buyers and sellers on the street. Cuevas seems to be the name they go by, but one insisted that he was a Cambio. Cambios are giving 8.44 or the bank rate.

http://mobile.twitter.com/dolarblue

Bus travel in Argentina is by card in the city. Buy a card with Pesos and put money on it. Same for the Subway, but you can use cash on the subway 5 Pesos per ride. On the regional buses from town to town, you use Pesos. I have not seen any laws or heard about any rules where Gringos had to use US dollars. There are some situations where prices are in US dollars and you can pay in Pesos or US dollars. I just bought a plane trip to Iguazu Falls, and another to Mendoza from Buenos Aires, and it was all in Pesos. They would accept US dollars, but would only give the bank rate.

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00abuse

Let me give you an example of Argentine government reliability.

“A US court has backed the vulture funds ..."

The "A US court" is the Argentine version of:

The new York Federal court for the Southern District of New York
+
the full United States Court of Appeals
+
the United States Supreme Court, which decided not to hear the case, because they considered Griesa's interpretation to be correct.
- - -

The United States Court of Appeals ruling, NML Capital, Ltd. v. Republic of Argentina 12-105(L) (26 October 2012) - affirming Griesa's ruling

p.28: (Quote)CONCLUSION

For the reasons stated, the judgments of the district court (1) granting summary judgment to plaintiffs on their claims for breach of the Equal Treatment Provision and (2) ordering Argentina to make "Ratable Payments" to plaintiffs concurrent with or in advance of its payments to holders of the 2005 and 2010 restructured debt are affirmed. (unquote)

http://www.shearman.com/~/media/Files/Old%20Site%20Files/secondcircuitdecision110512.pdf
https://www.courtlistener.com/ca2/5a3L/nml-capital-ltd-v-republic-of-argentina/

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00abuse

"blue" exchange.

The tout in the street is an Arbolito (small tree). "Official" Blue minus app 50 centavos to 1 peso.

A Cave is a business which exchange dollars for the Arbolitos and for customers who have been introduced.

Yesterday a Cueva would give you app 12.65 @ 100 - 300 USD, 12.70-12.75 @ 500-1.000 USD.

A very special kind of Cueva will accept USD checks drawn on US or European banks or SWIFT/ money transfers to their US or EU bank from *** introduced and vetted *** customers at the "Official" Blue rate minus between 2 and 4 percent.

"Official" Blue exchange rate: http://www.ambito.com/economia/mercados/monedas/dolar/

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00abuse

This is indeed, some of the most informative information that I have seen on the subject..........I do appreciate it.

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00abuse

If you are new to Argentina, 'Viveza criolla' is a must-read: http://en.wikipedia.org/wiki/Viveza_criolla having read the article, you know what to expect :(

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00abuse

I am new to Argentina, loving it so far, and will read this information and article, just so I know what to expect. I appreciate you taking the time to send it.........

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00abuse

I am new to Argentina, loving it so far, and will read this information and article, just so I know what to expect. I appreciate you taking the time to send it.........

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00abuse

I am watching the Black Market and the Blue Dollar in Argentina and here is what I am seeing.

Dec 12 $12.65, Dec 13 $12.85, Dec 17 $13.10, Dec 18 $13.15.

It appears to be on a steady rise. If anyone is seeing anything different in the market, please let me know. Thanks...........

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00abuse

Does zoom only work with a us bank account?

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00abuse

Yes, not for other bank accounts.

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00abuse