Argentina becomes a cheap country when the currency exchange is done in parallel – and now there are safe and legal ways to get the best quote
The Argentine economy is so complex that there are at least six types of exchanges. For tourists, those that hit the pocket directly are two: the officer and the parallel (better known as blue). The official price is the quote that applies to purchases made with a credit or debit card issued by a Brazilian bank. It is also the quote that you will find in the “normal” exchange offices of Ezeiza or Aeroparque.
In parallel, your reais are worth more than double the official exchange rate. If in the official exchange Buenos Aires can be as expensive as São Paulo or Santiago de Chile, in parallel the whole of Argentina becomes a bargain. In Buenos Aires, a very common place for blue money exchanges are the “cuevas”. You will hear “swap, swap” every time you walk down the Florida road. Trading can take place on the street or in shops, which aren’t as scary as they were ten years ago. What is the biggest obstacle to these transactions? Having to negotiate and receive a fake invoice at the time of the exchange.
How to know the quote of the day?
From the Parallel Hoy website. Today, October 20, 1 real buys 28 pesos at the official exchange rate; in parallel, you would get around 68 pesos. This does not mean that in parallel this will be exactly the value, but it is close to that.
Are there safer blue trading options besides “cuevas”?
Western Union shops are safer and closer to blue, which tend to pay a little less than the parallel exchange rate, but it is always at least double the official exchange rate: today, 20 October, 1 real is worth 58 pesos in l ‘WU app (against 28 official pesos).
How to make an exchange transaction via Western Union?
Through the app, which has a version for both Android and IOS. It’s simple: download, click “Send money”, fill in the details, choose the country you want to send to and choose the amount. At the moment you already know the quote and the value does not change. Next, the screen appears “How does the recipient want to receive the money?” . Click “In a shop” . In sequence, “How do you want to pay?”. The fastest way to get the money is to click “PIX or bank transfer” . At this moment the service fee also appears (in the case of a thousand reais, it is 30 reais). Attention: even if at this moment of the transaction the screen shows the information that the operation will be carried out in 3 days, according to my experience and that of dozens of Brazilians, the money is available for withdrawal in less than an hour.
Fill in the recipient details in the fields below, without abbreviations – the information must match the document, which in my case was the passport. There are reports of people shortening and unable to retire. At the cashier they asked me for an address and phone number in Buenos Aires and I ended up giving the details of the hotel I was staying in.
Are there any downsides to Western Union?
It depends. Keep in mind that at least part of your first day in Argentina will be dedicated to this. As it is a convenient, legal and safe mode, tourists from all over the world have joined the program, which can lead to significant queues or, in the worst case, the shop’s money runs out. One of the largest Western Union shops in Buenos Aires, with several branches, is located on the corner of Avenida Córdoba and Calle Montevideo, a 10-minute walk from El Ateneo Grand Splendid bookstore. When I got there, the line was outside the door and around the corner. Using the WU app, I saw that there was a shop in the next block, on Calle Paraná, and the queue was much shorter there. The closer the Microcentro branches are, the shorter the tails tend to be.
Is it safe to carry cash in Buenos Aires?
There is a strange feeling of leaving an agency with a banknote cake: one thousand reais at today’s price is equal to 58 thousand pesos – it was a similar figure to the one that I exchanged, kept in the hotel safe and gradually “withdrawn” . In no moment of the ten days I spent in Buenos Aires have I had the fear I feel when I walk through São Paulo. Crossing the capital of Buenos Aires on foot remains one of the most enjoyable programs to do. And there is no denying that there is a psychological effect to having a weak currency in your pocket: the prospect of losing a thousand pesos is far less dramatic than losing a hundred dollars.
And the dollars?
The American currency is very well accepted everywhere and has the most favorable exchange rate of all. If you have some dollars at home, bring them. But if you don’t have it, it is better to take reais to do the on-site exchange or do the WU scheme.
What about buying pesos in Brazil?
It will always be the worst of business.
After all, is it worth using a credit card?
It’s not worth it. Take it in an emergency, but avoid it at all costs. The official quote, used to close your card invoice, will make your trip more expensive (also consider an IOF fee of 6.38% and any withdrawal fees).
Is the scheme for withdrawing money the same for Bariloche?
In the case of Western Union, it’s a bit more complicated as there are few shops in the city and overcrowding in the winter makes money go away quickly. The good news is that at the height of the ski season the real becomes currency and is easily accepted at a rate closer to blue.
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Source: Terra
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
