Travel Reference
In-Depth Information
Banking and Currency
The unit of currency in Argentina is the peso, but US dollars
are widely accepted in tourist areas and most supermarket
chains. The majority of tourist-oriented hotels, shops, and
restaurants accept all major credit cards. Bring cash or
travelers' checks in either US dollars or euros; other foreign
currencies are not readily exchanged in all banks and will not
be accepted as cash. The Argentinian peso slumped in 2002
and again in 2014, resulting in an eightfold devaluation
against the dollar. One consequence of this is that a dual
exchange system has evolved: the official rate, and a more
favorable “dollar blue” rate, widely offered through unofficial
channels. As always in such circumstances: buyer beware.
to check beforehand instead
of joining the long queue. A
better option for exchanging
money is at a
casa de cambio
.
Their opening hours vary from
region to region, though they
are usually open until at least
6pm. In Buenos Aires, most are
situated in the Microcentro,
close to where Reconquista and
Calles Sarmiento intersect. The
commission is around 2 percent,
with a minimum service charge
of about US$5.
American
Express
travelers' checks can be
changed without commission
at their office in Retiro.
Credit cards are accepted
in most major outlets, but it
is wise to ask first, especially
in restaurants. The most
widely accepted cards are
MasterCard
and
Visa
, followed
by American Express. Visitors
will have to show a photo ID,
if the need arises.
Wiring Money
It is advisable to use the facility
of wiring money as a last resort.
Instead, it is better to go to either
Forex Cambio
, who, like Banco
Piano, can also cash foreign
checks, or
Western Union
.
Charges fluctuate and a mini-
mum fee would be about US$50.
It is advisable to call ahead to
check for the best rates.
Visitors changing money at a
casa de cambio
in Córdoba
Banks and Casas
de Cambio
Argentina's banks range from
the state-run
Banco de la
Nación Argentina
to local
independent banks, as well as
international banks such as
Citibank
. Opening hours are
normally from 10am to 3pm on
weekdays. Avoid lunch hours, to
escape long queues. Ask hotel
staff for opening hours of the
nearest branches.
Casas de cambio
(bureaux de
change) are generally open
longer hours than banks and
tend to offer quicker service
and better exchange rates in
comparison to shops and
hotels. It is advisable not to
exchange money in a hotel
unless there is absolutely no
other alternative. Ministro
Pistarini International Airport in
the capital also has several
casas
de cambio
, including
Banco
Piano
,
but rates at the airport
are not competitive.
machines that display the
symbol of the card issuer.
Visitors will be charged between
US$1 and US$5, depending on
the bank and the card issuer.
Getting change in Argentina
can be difficult and many
vendors blanch at the sight of
a 100 peso note, so it is better
not to withdraw cash in multi-
ples of 100. Instead, put in a
request for 190 pesos rather
than 200. For safety reasons,
always withdraw money
only during business hours,
preferably in well-populated
areas such as bank lobbies or
shopping malls.
Currency
The Argentinian peso is divided
into 100 centavos. In the 2002
economic crisis a number of
provinces issued their own
paper money bonds. These are
no longer legal tender. Do not
accept any note that is not
marked “pesos” and check the
watermark and ink carefully.
The peso's symbol, AR$, is
easily confused with that of the
US dollar (US$). Assume that a
product is priced in pesos unless
it is stated otherwise. Always
carry small amounts of cash in
coins and small-denomination
bills for tips and minor purchases.
Buses only accept coins (as well
as the electronic SUBE card) and
taxi drivers may be unable or
unwilling to give change for
larger-deno mination notes.
Standard ATM, found across Argentina
Travelers' Checks and
Credit Cards
Travelers' checks still remain
the safest way of carrying
money. However, not all banks
exchange them, so it is better
Automatic Teller
Machines (ATMs)
Most banks have ATMs - look
out for the Banelco and Link
