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Buenos Aires Banks & Money

The Dolar Blue in Buenos Aires

Argentine Government Prohibits Purchase of U.S. Dollars in Argentina

Argentine Banks Do Not Sell U.S. Dollars in Argentina

Buenos Aires ATMs Do Not Offer U.S. Dollars

Because the national government has made it illegal to purchase U.S. dollars in Buenos Aires we have implemented several solutions that allow our customers to pay their reservation deposit, rent and damage deposits for their Buenos Aires apartment rentals in U.S. dollars.

Argentina Consultant.com offers a wide range of financial solutions for our customers in the following countries: United States, Canada, Australia, Argentina, Brazil, United Kingdom and all other European countries:

PayPal

Amazon WebPay

Chase QuickPay

International Wire Transfer

Please contact us for complete details on how you can pay your apartment reservation deposit, rent and damage deposit in U.S. dollars for your Buenos Aires apartment rental.


Warning for U.S. Tourists – Exchanging Pesos for U.S. Dollars

U.S. tourists visiting Argentina have reported problems in exchanging Argentine pesos for U.S. dollars.

New Argentine exchange regulations decreed by President Cristina Kirchner placed restrictions on purchasing dollars and taking dollars out of the country. The new rules are causing banks and exchange houses to refuse to buy Argentine pesos from tourists.

It is strongly advised that all tourists keep original receipts proving the purchase of pesos at the official exchange rate. Banks and exchange houses may sell U.S. dollars to tourists with original receipts, but the sale will be in an amount equal to or lower than the amount purchased.

 

Currency Exchange at EZE International Airport

At Ezeiza International Airport, Banco de la Nación, which is conveniently located inside Customs of Terminal A – is open for currency exchange operations 24 hours a day.

In order to exchange currency at the official rate at the airport you will need to present your passport and boarding pass to the bank teller. Photo to right is the entrance to Banco de la Nación at EZE.

 

Buenos Aires Banks

Banks in Buenos Aires, Argentina are generally open Monday thru Friday 9am-3pm. Lines in Buenos Aires banks can be long and confusing. Also, Argentina banking laws are restrictive and complex. Do not assume that your U.S. Citibank account will be accessible at an Argentina Citibank, because it won’t – they are not the same entity.

Currency Exchange at EZEIZA international airport

 

Argentine Peso

Argentina’s currency, the peso, was allowed to float in 2002, after a decade of being pegged to the American dollar at one-to-one exchange rate.

The Argentina peso comes in notes of 100, 50, 20, 10, 5 and 2 pesos; coins in 1 peso, 50, 25, 10 and 5 centavos. The $ sign is used to denominate Argentina pesos.

Counterfeit bills are often given as change in flea markets, bars and by taxi drivers. Please closely examine all bills given to you.

 

Buenos Aires Banks and Money

Buenos Aires ATM’s

NOTE - Buenos Aires ATM’s DO NOT dispense U.S. Dollars

ATMs are plentiful in Buenos Aires and are signed by the BANELCO and LINK logos.

Buenos Aires ATM’s will now dispense up to AR$3000 in a 24 hour period with the use of most debit cards issued by major banks.

NOTE – when you withdraw Argentine pesos from an ATM you will be charged the official government exchange rate, not the ‘dolar blue’ rate, plus ATM withdrawal fees from the Argentine bank and most probably your bank too.

When withdrawing pesos from an ATM request $490 or $990 rather than $500 or $1000, that way you don’t get all your money in hundred peso bills.

 

Buenos Aires ATM's

Buenos Aires Banks

The “Dolar Blue” and Currency Exchange in Buenos Aires

Banks in Buenos Aires do not exchange foreign currency. Your best option to exchange money in Buenos Aires is a Casa de Cambio.  There are many casas de cambio on Florida Street, downtown Buenos Aires.

Banco de la Nacion has a branch in the international airport EZE, located inside Customs, which is easy and convenient for exchanging money to Argentine pesos at the official government exchange rate.

The peso has two exchange rates, the official government exchange rate and a black market rate, which the locals call the “dólar blue”.  The black market rate, or “dólar blue”, is about 60% greater than the official exchange rate.  Exchanging  your dollars on the black market gives you significantly more purchasing power in Buenos Aires.

Any pesos purchased on the black market can’t be exchanged back to U.S. dollars at a bank.  Banks in Buenos Aires do not exchange foreign currency, except for Banco de la Nacion, which will only buy pesos in exchange for U.S. dollars if you have an original bank receipt showing you have purchased your pesos at the official government exchange rate.

No Pesos? No Problem! Many shops, restaurants and even grocery stores will accept U.S. dollars.  Carrying a small amount of US$ is always handy.  Please keep in mind the difference between the official government exchange rate and the “dólar blue” exchange rate and always ask for the “dólar blue” rate.

 

Tipping

When dining in a restaurant you should tip at least 10% of the total bill. Tips can not always be included in the total when charging the bill to your credit card, and may need to be given in cash.

Locals generally do not tip taxi drivers, and it is not uncommon to see locals counting out the fare to the exact centavo. But, if good service has been provided the driver will appreciate it if you round the fare up a few pesos to eliminate the hassle of giving back change.


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