What is the best and safest way for tourists to convert US dollars to Argentine pesos when visiting Argentina?

Summary: Navigating Argentina’s Money Exchange Maze as a Tourist Exchanging US dollars for Argentine pesos can be confusing, even for seasoned travelers. With Argentina’s unique dual exchange rates, strict currency controls, and a thriving informal market, knowing where and how to change money safely is essential. This guide combines my own experience, insights from locals, and the latest official advice to help you get the best rate and avoid common pitfalls while traveling in Argentina. Why Getting Pesos in Argentina Isn’t as Straightforward as Elsewhere When I first landed in Buenos Aires, I assumed I’d just stroll into a bank or use an ATM, like in most countries. But Argentina plays by its own rules. Due to economic instability, the government limits how many US dollars locals can buy, leading to a “blue dollar” (unofficial) exchange rate that’s much higher than the official one. This means if you just use your card or ATM, you’ll likely lose out, sometimes by 50% or more. Here’s the kicker: Tourists can access the blue dollar rate legally now, but only if you know how. And trust me, that took some trial, error, and awkward conversations with hotel staff and money changers. Step-by-Step: How to Get the Best Rate for Your Dollars 1. Understanding the Rates: Official vs. Blue Dollar The official rate is what banks and ATMs use — but it’s artificially low. The blue dollar is the rate you get on the street (cue the guys on Florida Street whispering “cambio, cambio!”), or via certain online services. For daily rates, sites like DolarHoy are the gold standard. 2. Bringing Cash: Old School, But Still King Most travelers bring crisp, undamaged $100 bills. Smaller bills get worse rates, and notes with tears or marks might be rejected. The first time, I brought mostly $20s and learned the hard way — the guy at the cambio booth just shook his head. Pro tip: US dollars are prized. Even some restaurants or hotels might accept them at a good rate, especially outside tourist hotspots. 3. Where to Exchange: Your Options, Ranked by Safety and Value Western Union: My go-to after a local friend clued me in. You send yourself money from your US account (using their app or website), pick it up in cash pesos at a Western Union branch in Argentina, and get a rate close to blue dollar. Yes, there’s a fee, but the net rate can be far better than the official route. The only downside? Sometimes long lines or daily limits. Official exchange houses (casas de cambio): Convenient and safe, but usually give the official (worse) rate. Good for peace of mind, bad for your wallet. Street changers (“arbolitos”): This is the “blue dollar” market. It’s technically a gray area, but widely used. I tried it once — lots of drama, lots of counting, and a bit of paranoia. If you go this route, stay in busy areas and count your money carefully. Hotel front desks: Some hotels will change money for you, often at a rate between official and blue. Handy in a pinch, but not the best value. ATMs: Easiest, but worst rate, and high fees. Only for emergencies. 4. How About Credit Cards? Here’s a weird twist: Since late 2022, foreign Visa and Mastercard transactions are processed at a rate close to the blue dollar (“MEP” rate). This means paying by card in stores now gives you a much better rate than before. I tested this at a big chain supermarket — the final charge matched the blue rate almost exactly. But not all cards, banks, or shops process this flawlessly, so check your card statement after a few days. 5. The Western Union Process, Step-by-Step (With Screenshots) I used the Western Union app to send myself $500 from my US bank account. Here’s the process: Sign up/log in to the app and select “Send money.” Enter Argentina as the destination, specify amount in USD, and choose “cash pickup” as the receiving method. Pay with US debit card (credit cards work, but fees are higher). Get a confirmation code (MTCN). Take your ID and code to any Western Union branch (they’re everywhere in major cities). Pick up your pesos in cash, counted out at the counter. Screenshot of my receipt below (I blanked out my name for privacy): A few things I messed up: Once, I went on a Friday afternoon and waited over an hour. Another time, I forgot my passport and had to go back. And note — there are daily and monthly pickup limits, so check Western Union Argentina for details. Safety Tips: Keeping Your Cash and Sanity Don’t flash cash on the street, especially in crowded areas. When using Western Union or cambios, go during business hours and avoid deserted branches. Never hand over your dollars until you see the pesos counted in front of you. I once tried to rush, and almost lost $50 to a sleight-of-hand mix-up! Real-World Example: My Exchange in Buenos Aires Last March, I arrived with $800 in $100 bills. I split my exchanges: half via Western Union, half with a trusted cambio recommended by my Airbnb host. Western Union gave me 860 pesos per dollar after fees; the street cambio offered 870. The official rate that day was 385. On $400, that’s a difference of over 190,000 pesos — enough for several steak dinners or a weekend getaway to Mendoza. Seeing the numbers in real life really drove home how much you can lose by not doing your homework. Official Advice and Legal Considerations According to the United States Trade Representative (USTR), Argentina’s currency controls are among the strictest in the Americas. The Argentine Central Bank (BCRA) maintains tight oversight of official exchanges, but “blue dollar” operations are widespread and, while technically unregulated, are tolerated for tourists. Local law (Decree 274/2019) allows for “authorized exchange agencies” only; trading on the street is not formally legal but rarely prosecuted if you stick to tourist areas and modest amounts. Western Union and similar remittance services operate within the law and are used by both locals and foreigners daily. “Verified Trade” Standards: How Argentina and the US Compare Name Legal Basis Enforcement Agency Key Differences Argentina: Currency Exchange Law (Decree 274/2019) Decree 274/2019 Central Bank of Argentina (BCRA) Strict regulation, dual rates, informal market tolerated US: Currency Transaction Reporting (CTR) Bank Secrecy Act FinCEN, US Treasury Single market rate, strict reporting for transactions over $10,000 Expert View: What Local Bankers Say I interviewed Ana, a Buenos Aires banking manager (she asked not to be fully named): “We always advise tourists to avoid the street, but we know the reality. Western Union is legal and gets you a fair rate. If you must use a cambio, ask your hotel for a contact — don’t just go with the first person you see.” OECD guidelines on currency exchange stress the importance of transparency and consumer protection — which is why using reputable services is safer (OECD Financial Literacy Survey). Bottom Line: My Reflections and What I’d Do Next Time If you want the best rate and safety, use Western Union or bring cash to a trusted cambio. Don’t rely on ATMs for large sums — the fees and rates are painful. Credit cards are now a good option for big purchases, but always check your statement to be sure you got the right rate. Exchange just what you need; pesos can be hard to convert back on your way out. Argentina’s currency situation is wild — but if you plan ahead, you can navigate it like a pro and save a lot. Next time, I’d bring a mix of crisp $100 bills, set up my Western Union transfers before landing, and only use ATMs for emergencies. And, as always, trust but verify — and don’t let the exchange drama stop you from enjoying Argentina’s incredible food, people, and culture.

Nathaniel's answer to: How can tourists exchange money in Argentina?

Summary: Navigating Argentina’s Money Exchange Maze as a Tourist

Exchanging US dollars for Argentine pesos can be confusing, even for seasoned travelers. With Argentina’s unique dual exchange rates, strict currency controls, and a thriving informal market, knowing where and how to change money safely is essential. This guide combines my own experience, insights from locals, and the latest official advice to help you get the best rate and avoid common pitfalls while traveling in Argentina.

Why Getting Pesos in Argentina Isn’t as Straightforward as Elsewhere

When I first landed in Buenos Aires, I assumed I’d just stroll into a bank or use an ATM, like in most countries. But Argentina plays by its own rules. Due to economic instability, the government limits how many US dollars locals can buy, leading to a “blue dollar” (unofficial) exchange rate that’s much higher than the official one. This means if you just use your card or ATM, you’ll likely lose out, sometimes by 50% or more.

Here’s the kicker: Tourists can access the blue dollar rate legally now, but only if you know how. And trust me, that took some trial, error, and awkward conversations with hotel staff and money changers.

Step-by-Step: How to Get the Best Rate for Your Dollars

1. Understanding the Rates: Official vs. Blue Dollar

The official rate is what banks and ATMs use — but it’s artificially low. The blue dollar is the rate you get on the street (cue the guys on Florida Street whispering “cambio, cambio!”), or via certain online services. For daily rates, sites like DolarHoy are the gold standard.

2. Bringing Cash: Old School, But Still King

Most travelers bring crisp, undamaged $100 bills. Smaller bills get worse rates, and notes with tears or marks might be rejected. The first time, I brought mostly $20s and learned the hard way — the guy at the cambio booth just shook his head.

Pro tip: US dollars are prized. Even some restaurants or hotels might accept them at a good rate, especially outside tourist hotspots.

3. Where to Exchange: Your Options, Ranked by Safety and Value

Western Union: My go-to after a local friend clued me in. You send yourself money from your US account (using their app or website), pick it up in cash pesos at a Western Union branch in Argentina, and get a rate close to blue dollar. Yes, there’s a fee, but the net rate can be far better than the official route. The only downside? Sometimes long lines or daily limits.
Official exchange houses (casas de cambio): Convenient and safe, but usually give the official (worse) rate. Good for peace of mind, bad for your wallet.
Street changers (“arbolitos”): This is the “blue dollar” market. It’s technically a gray area, but widely used. I tried it once — lots of drama, lots of counting, and a bit of paranoia. If you go this route, stay in busy areas and count your money carefully.
Hotel front desks: Some hotels will change money for you, often at a rate between official and blue. Handy in a pinch, but not the best value.
ATMs: Easiest, but worst rate, and high fees. Only for emergencies.

4. How About Credit Cards?

Here’s a weird twist: Since late 2022, foreign Visa and Mastercard transactions are processed at a rate close to the blue dollar (“MEP” rate). This means paying by card in stores now gives you a much better rate than before. I tested this at a big chain supermarket — the final charge matched the blue rate almost exactly. But not all cards, banks, or shops process this flawlessly, so check your card statement after a few days.

5. The Western Union Process, Step-by-Step (With Screenshots)

I used the Western Union app to send myself $500 from my US bank account. Here’s the process:

Sign up/log in to the app and select “Send money.”
Enter Argentina as the destination, specify amount in USD, and choose “cash pickup” as the receiving method.
Pay with US debit card (credit cards work, but fees are higher).
Get a confirmation code (MTCN). Take your ID and code to any Western Union branch (they’re everywhere in major cities).
Pick up your pesos in cash, counted out at the counter. Screenshot of my receipt below (I blanked out my name for privacy):

A few things I messed up: Once, I went on a Friday afternoon and waited over an hour. Another time, I forgot my passport and had to go back. And note — there are daily and monthly pickup limits, so check Western Union Argentina for details.

Safety Tips: Keeping Your Cash and Sanity

Don’t flash cash on the street, especially in crowded areas. When using Western Union or cambios, go during business hours and avoid deserted branches. Never hand over your dollars until you see the pesos counted in front of you. I once tried to rush, and almost lost $50 to a sleight-of-hand mix-up!

Real-World Example: My Exchange in Buenos Aires

Last March, I arrived with $800 in $100 bills. I split my exchanges: half via Western Union, half with a trusted cambio recommended by my Airbnb host. Western Union gave me 860 pesos per dollar after fees; the street cambio offered 870. The official rate that day was 385. On $400, that’s a difference of over 190,000 pesos — enough for several steak dinners or a weekend getaway to Mendoza. Seeing the numbers in real life really drove home how much you can lose by not doing your homework.

Official Advice and Legal Considerations

According to the United States Trade Representative (USTR), Argentina’s currency controls are among the strictest in the Americas. The Argentine Central Bank (BCRA) maintains tight oversight of official exchanges, but “blue dollar” operations are widespread and, while technically unregulated, are tolerated for tourists.

Local law (Decree 274/2019) allows for “authorized exchange agencies” only; trading on the street is not formally legal but rarely prosecuted if you stick to tourist areas and modest amounts. Western Union and similar remittance services operate within the law and are used by both locals and foreigners daily.

“Verified Trade” Standards: How Argentina and the US Compare

Name	Legal Basis	Enforcement Agency	Key Differences
Argentina: Currency Exchange Law (Decree 274/2019)	Decree 274/2019	Central Bank of Argentina (BCRA)	Strict regulation, dual rates, informal market tolerated
US: Currency Transaction Reporting (CTR)	Bank Secrecy Act	FinCEN, US Treasury	Single market rate, strict reporting for transactions over $10,000

Expert View: What Local Bankers Say

I interviewed Ana, a Buenos Aires banking manager (she asked not to be fully named): “We always advise tourists to avoid the street, but we know the reality. Western Union is legal and gets you a fair rate. If you must use a cambio, ask your hotel for a contact — don’t just go with the first person you see.”

OECD guidelines on currency exchange stress the importance of transparency and consumer protection — which is why using reputable services is safer (OECD Financial Literacy Survey).

Bottom Line: My Reflections and What I’d Do Next Time

If you want the best rate and safety, use Western Union or bring cash to a trusted cambio. Don’t rely on ATMs for large sums — the fees and rates are painful. Credit cards are now a good option for big purchases, but always check your statement to be sure you got the right rate. Exchange just what you need; pesos can be hard to convert back on your way out.

Argentina’s currency situation is wild — but if you plan ahead, you can navigate it like a pro and save a lot. Next time, I’d bring a mix of crisp $100 bills, set up my Western Union transfers before landing, and only use ATMs for emergencies. And, as always, trust but verify — and don’t let the exchange drama stop you from enjoying Argentina’s incredible food, people, and culture.