Ultimately, the exchange rates are a story of supply and demand among Argentines, said Jonathan Petersen, a senior markets economist and foreign exchange specialist at Capital Economics.The black market rate reflects the value residents place on stability. The peso premium they're paying for U.S. dollars relative to the official exchange is the rough equivalent of a year's worth of recent inflation, Petersen said — almost a no-brainer for any local intent on saving for the longer term.
What's more, a more favorable exchange rate attracts American tourists, who bring their U.S. dollars into the country, with the added benefit of spending locally and supporting the economy, she said.Meanwhile, Argentines are distrustful of banks and financial institutions, economists said.," or a "little corral," a period in the nation's history when the government seized deposits during economic crises.savings to finance operations and pay debt.
"Travelers from the U.S., Canada and Europe are incredibly accustomed to flipping out their debt card and tapping the credit card charge machine," said Jed Rothenberg, director of"You're in a very cash-friendly environment," Rothenberg said. "Cash-demanding, in fact."The author on a hike near El Chaltén in Patagonia. The town is known as the trekking capital of Argentina.
Visitors should be aware of potential snags: Lines and wait times can be long — even a few hours, locals told me — depending on the branch and time of day. It also may take a few days to access funds once sent, depending on delivery method. And certain branches may impose a dollar limit per transaction and there will likely be transaction fees. You'll also need to show your passport for pickup.
I accompanied a friend to a cueva in El Calafate, a Patagonian town in the southwest that serves as a gateway to Glaciar Perito Moreno in Parque Nacional Los Glaciares. The cueva, recommended by our tour guide, was tucked away on the second floor of an upscale steakhouse, in a side room where a lone woman diligently traded bills from behind a fold-out desk., a tour operator that specializes in travel to South America.
Did a bit of this in Mexico years ago. Found around a 10% difference between exchangers, made $10 a few times for essentially crossing the street. Enough to pay for dinner down there
Best country to live in the world with dollars.
$ is king
itu bukan urusanku....