kgrothe
1/29/2016 12:57 EST
I was wondering if anyone knows how and/or where I might be able to exchange Argentine pesos to dollars before returning to the USA? What is the process? Apparently this should be easier under Macri but I can't find any information on this. Thanks for your help!
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pampas
1/29/2016 13:39 EST
Just go into a ¨cambio¨ fx place and ask them to exchange. You could also do it in a bank.
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pampas
1/29/2016 13:39 EST
Just go into a ¨cambio¨ fx place and ask them to exchange. You could also do it in a bank.
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AndrewLopez
1/30/2016 07:21 EST
Hello,
As I travel back and forth I also have to purchase and sell. If you are in Microcentre and close to Florida/Peru Crossing the street by Rivadavia. You will see a Burger King on the corner, Starbucks and the entrance to Subte 'D' the Catedral stop. There are people all the time there asking for cambio. There is a building that you will walk into on the first floor on the left they purchase pesos from me at a decent rate. Mind you it may not be the very 'best' but I have found this location when they purchase to be better than the banks. Count everything in front of them at the window. Any other questions you can send me a private message if you so desire.
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TomP
1/30/2016 07:43 EST
I thought with the devaluation of the AR peso by the new Presidente Macri the "Blue Rate" had pretty much disappeared just like the guys standing on the street corners. Isn't the official rate around AR 13.5 - AR 14.0 pesos per 1 US Dollar?
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AndrewLopez
1/30/2016 07:54 EST
The government needs to have a reserve in order for his proposition to go in effect. The last president eliminated that reserve and has delayed this. Our advantage.
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SaintJohn
1/30/2016 08:52 EST
Hi Tom,
the blue still exists, although the official and the blue are quite close.
Yesterday
Official: 13,740 COMPRA; 14,140 VENTA
Blue: 13,870 COMPRA; 14,270 VENTA
http://www.ambito.com/economia/mercados/monedas/dolar/
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TomP
1/30/2016 12:38 EST
Saint John,
If the spread is currently AR 13.740 v. AR 13.870 when it used to be AR 9.5 v. AR 14.0 the spread is in effect gone unless you are moving a AR 100,000 pesos or more.
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kgrothe
1/30/2016 14:05 EST
Thanks for the answer! Have you, or anyone you know done this during the Macri administration? I hasn't been that simple in the past...
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kgrothe
1/30/2016 14:05 EST
Thanks! I will see what rate the bank gives me and compare it to a house of "cambio"
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kgrothe
1/30/2016 14:08 EST
Thanks for your reply, The debit/credit card is a great option now that Macri is president and there is no longer a dramatic difference between the blue and official dollar. In my case, however, I have quite a bit of pesos on hand after selling my car in argentine pesos. I will be returning to the USA soon and need to find the best solution.
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kgrothe
1/30/2016 14:10 EST
I thought the same thing. There are people screaming "cambio" all over Calle Florida still. I was over there the other day!
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TomP
1/31/2016 08:39 EST
There may still be cambios standing on the streets trying to get business but they probably won't be there for long. The spread is just too thin unless you are converting a large amount of pesos, e.g. AR 100,000.
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SaintJohn
2/29/2016 12:24 EST
om, the blue exchange rate is interesting if you (most likely) are an Argentino and don't want AFIP to surveil your affairs.
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TomP
2/29/2016 14:42 EST
True, if you want to employ the old "cash under the table" strategy and hide income and saved money etc.
I pay my workers (Argentines) the Government mandated rate for wage plus 23% additional for benefits because my workers could collect cash under the table for years from me and then turn on me and report me to the Government which in turn would make me back 100% back wages plus the 23% benefits. Ouch!
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