wander-argentina.org

Live, Study, Work & Volunteer in Argentina

  • Hospitality
  • Life
  • Politics
  • Retirement
  • Social Issues
  • Study
  • Volunteer
  • Work
You are here: Home / Life / Argentina a Budget Destination Again As the Peso Takes a Beating

Argentina a Budget Destination Again As the Peso Takes a Beating

May 29, 2013

Spread the love

A building in the La Boca neighborhood of Buenos Aires ArgentinaArgentina is becoming an affordable destination for foreigners again, due to government currency controls causing an insatiable appetite for black market dollars.

Argentineans purchase dollars on the black market as a way to save in a more stable currency than the inflation-prone Argentine peso.

Citizens are only allowed to purchase small quantities of dollars from the Central Bank for the purposes of travel, but black market dollars are their only option if they want to save money that won’t quickly lose its value.

Last week, Businessweek reported that one in fifteen dollars is absconded in Argentina.

What Argentina’s Currency Restrictions Mean for Foreigners

While the currency restrictions make life difficult for locals, visiting foreigners can get nearly twice the number of pesos for their dollars on the black market (known locally as the ‘blue dollar’) than they will get at an Argentine bank or at the ATM.

Those who bring cash from home or use a money transfer service to receive pesos at a better rate find that a decent lunch can once again be found for US $3-4, a Buenos Aires bus or subte fare costs $0.25 and a basic Buenos Aires hotel room can be found for US $10.

The Steak Dinner Cost Index

Meat and cheese prices at a stall in a Buenos Aires market
Prices in Buenos Aires

Argentina got a reputation as a budget destination after the 2002 devaluation of the peso. By 2009, as the economy recovered, inflation caused prices to rise again and word got out among travelers that it wasn’t so inexpensive anymore.

Now, tourism from neighboring Uruguay is on the rise as Uruguayans come to spend their dollars for low-cost vacations in Argentina, but the favorable rate hasn’t yet caused a rebound for tourism from overseas.

While the famous eight-dollar-steak-dinner-days may not be quite back, the high, albeit fluctuating, value of the dollar on the black market means –- for now at least — that a steak and wine dinner in Buenos Aires can be found for US$12.

 

Travel Tip: Virtually no one can purchase dollars in Argentina at the official rate, especially foreigners. This means that travelers should bring USD (you can enter the country with up to US$10,000).

Those who are —understandably— not comfortable carrying all that cash and exchanging it at illegal, if ubiquitous, currency exchange houses, can use Xoom to get money locally or a money transfer service for currencies other than dollars to receive pesos at a slightly lower ‘blue’ rate.

For a while, foreigners could take a trip to Uruguay to get dollars at the ATM, but even there the banks have restricted dollar withdrawals to U.S. $300, and that’s if there are any greenbacks available.

Whatever travelers do, unless you like to gratuitously lose money, don’t use ATM’s in Argentina.

Related Posts:

  • Renew Tourist Visa Argentina
    Renew Your Tourist Visa in Buenos Aires: A…

Comments

comments

Filed Under: Life, Retirement Tagged With: argentina, black market for dollars, blue dollar, budget destination, south american travel, What do Argentina Currency Restrictions Mean for foreigners

Connect with Us!

Wander Argentina Facebook Wander Argentina twitter wander argentina youtube Wander Argentina Pinterest Wander Argentina ORG RSS

TEFL Course

Happy New Adventure

Popular Posts

  • •The Pitfalls of Dating Argentines  
  • • The Pitfalls of Dating an Argentine Part II  
  • • How Much Do English Teachers Make in Argentina?  
  • • How to Speak Spanish Like An Argentine  
  • • Living in Argentina: FAQ  
  • •How to Get a Sube Card in Buenos Aires•
  • Online Resources for Learning Argentine Spanish   
  • • Getting an IT Job in Argentina  
  • •How to Get A SIM & Cellphone Credit
  •  • How to Get a Student Visa in Argentina  
  • • Becoming Bilingual is an Advantage at Any Age  
  • •What if You Can't Trill Your 'R's?   • Argentina: What to Pack

Learn Spanish

Learn Spanish

Wander Argentina Mailing List

Subscribe to our mailing list

* indicates required
Renew Tourist Visa Argentina

Renew Your Tourist Visa in Buenos Aires: A Step-by-Step Guide

volunteers at the Food Bank of San Martin Buenos Aires

Volunteer at ‘The Food Bank’

Visit us at Wander-Argentina.com

• Book Accommodation

• Book Flights

• Buenos Aires City Tours

• Buenos Aires Tango Shows

• Buy Travel Insurance

• Rent a Car

• What to Pack

Copyright © 2025 · All Rights Reserved · Wander Argentina · Log in· about us · advertise with us · contact us · contributor guidelines · privacy policy ·sitemap ·