Argentina Peso Blue: A Guide to Using and Understanding

The Argentina Peso Blue can be a bit overwhelming, but don't worry, I'm here to help you navigate it. The Peso Blue is an unofficial currency that has been circulating in Argentina, particularly in the black market.

You can exchange your money for Peso Blue at a rate that's significantly lower than the official exchange rate. This is because the Peso Blue is not recognized by the Argentine government.

To use Peso Blue, you'll need to find a reliable exchange service or a street vendor who accepts it. Be cautious when using these services, as some may charge exorbitant fees or offer unfair exchange rates.

The Peso Blue is often used in informal transactions, such as buying groceries or paying for services like taxi fares or utility bills.

The Argentina Peso Blue is a term that refers to the unofficial exchange rate of the US dollar in Argentina. This rate is also known as the Blue Dollar rate.

The Blue Dollar rate is used by money changers on the streets, known as the Blue Market, who offer better rates for hard currency. Big notes, like hundred dollar bills, get even better rates.

The Blue Dollar rate is significantly higher than the official exchange rate, with a difference of around 15% when I visited Argentina in April 2024. This is because the official rate is controlled by the government, while the Blue Dollar rate is determined by market forces.

The Blue Dollar rate changes daily, on weekdays, at 12 pm, just like any other exchange rate. You can check the current Blue Dollar exchange rate online.

The Argentinian Peso has lost approximately 90% of its value in the past 10 years compared to the US dollar. This has led many Argentinians to value the American dollar over the local currency.

Check this out: Bcbs Blue Value

To benefit from the best exchange rate in Argentina, use your MasterCard or Visa Card to pay in Argentine Pesos. You'll get the unofficial exchange rate for Peso to USD transactions.

It's essential to note that you can't bring a lot of cash to Argentina, as it can be quite dangerous. Their currency loses value so quickly that by the end of the month, 10,000 pesos could be worth less than 7,000 compared to its value 30 days earlier.

You can use Western Union for Blue Dollar-rate pesos, but it's complex to navigate. I recommend using a local for a safe exchange, as most exchange places offer a rate close to the Blue Dollar rate.

To pay in cash in pesos, you'll need to get them using the Blue Dollar rate first. Bring USD in cash, and make sure the bills are in good shape, especially $100 bills, which have a greater value than $50 or $20.

Using the Peso Blue is a great way to navigate Argentina's economy, but it can be tricky to figure out the best way to pay for things. Here's a breakdown of your options:

You can use your MasterCard and Visa Card for Peso to USD transactions, and within a few days, the amount will be recalculated at the Blue Dollar rate. This is a convenient option for many travelers.

If you already have cash in pesos, you can pay in cash for things, but be aware that the locals really want cash, and it can be quite dangerous to carry large amounts.

Western Union is also an option for Blue Dollar-rate pesos, but it's complex to navigate, so be prepared for a challenge.

Here are your payment options in more detail:

Pay by card whenever and wherever you can, using MasterCard or Visa, and always choose to pay in ARS to obtain the Blue Dollar exchange rate.

You'll need to bring USD in cash, as there's no place in Argentina where you can get it from a bank or ATM. Note that if you bring more than $10,000, you'll have to declare it at customs.

$100 bills have a greater value than $50 or $20 bills, and they should be in good shape to avoid being rejected by exchanges.

You'll find people on touristy streets asking if you want to exchange, but be careful not to be tricked - most of them are legit, but some may try to trick you when handling the money.

The best way to exchange cash is to ask a local for a safe exchange, but don't worry, most exchange places offer a rate close to the Blue Dollar rate.

Exchanging a bit at a time is a good idea, as the rate changes daily, and you'll get a better sense of the current rate.

To use the Blue Dollar rate effectively, it's essential to understand the practical considerations involved. You'll want to bring USD in cash, as there are no banks or ATMs that dispense US dollars in Argentina.

Bills in good shape have more value than those that are worn or damaged. Specifically, $100 bills are worth more than $50 or $20 bills.

If you're exchanging cash, be cautious of people on touristy streets who may try to trick you. Most are legit, but it's always better to be safe than sorry. I found that asking a local for a safe exchange is a good way to go, and most places offer a rate close to the Blue Dollar rate.

To avoid any issues, it's a good idea to exchange a bit at a time, as the rate changes daily. If you're exchanging more than $10,000, you'll need to declare it at customs.

You can use your credit card to access the Blue Dollar exchange rate, just like paying with cash. This is a game-changer for tourists.

To get the Blue Dollar rate, use a MasterCard or Visa, and choose to pay in ARS. This will ensure you get the best exchange rate.

Paying with a card is a great way to avoid currency exchange drama and focus on enjoying your trip.

Suggestion: Does Blue Cross Blue Shield Accept Credit Card Payments

Living with the Blue Dollar in Argentina can be a challenge, but understanding its economic impact can help you navigate the situation. Inflation is a major issue in Argentina, and the Blue Dollar's rise can make everyday goods more costly.

The Blue Dollar affects almost every part of Argentina's economy, including inflation, the black market, economic stability, and foreign investment. A high Blue Dollar often reflects low public trust in the peso, signaling overall economic uncertainty.

Imports become pricier when the Blue Dollar rises, driving inflation up and making everyday goods more costly. To cope with inflation, many Argentinians have adopted strategies such as investing in foreign currencies or seeking higher-yield investment options.

The Blue Dollar fuels the informal economy, allowing people to dodge official currency controls and creating a shadow economy outside government regulation. This can be a complex issue, making it difficult for potential foreign investors to navigate Argentina's dual exchange rates.

Related reading: Argentina Peso Inflation

Here are some key economic impacts of the Blue Dollar:

If you're planning to use the Blue Dollar in Argentina, there are a few things to keep in mind. Bring USD in cash, as there are no banks or ATMs that exchange dollars. Note that if you bring more than $10,000, you'll have to declare it at customs.

You'll want to make sure your bills are in good shape, as $100 bills have a greater value than $50 or $20 bills. Bills that are worn or damaged might be rejected by exchanges.

You'll likely be approached by people on touristy streets offering to exchange your money, but be cautious of scams. Most exchanges are legit, but some may try to trick you by giving you less money after counting it.

To avoid any issues, it's best to ask a local for a safe exchange. And don't worry, most exchange places offer a rate close to the Blue Dollar rate, so you can trust that you're getting a fair deal.

Sending money abroad can be a challenge, especially if you're not familiar with the local payment services. Many expats have reported that Western Union offers a good exchange rate, close to the Blue Dollar rate.

If you choose to use Western Union, be prepared for a wait. It takes a few days to receive the money, and there might be issues finding a branch that is open or has enough cash.

Check this out: Metro Credit Union Money Market Rates

Changing money in the Blue Market can be a game-changer for your travel budget. You can get 30-40% more on the exchange compared to what banks offer.

Going to the Blue Market can be a bit overwhelming, but it's worth it. You'll find vendors shouting "Cambio! Cambio! Cammmmbioooooooo!" as soon as you arrive, which translates to "money exchange."

The best time to visit is in the late afternoon, as vendors are looking to make their quota and you'll find the best rates. Approach numerous vendors and ask their rate to change a hundred dollars.

Related reading: Bcbs Federal Standard

You can get the latest exchange rates on websites, but it's also a good idea to ask around, especially if you're new to the country. This will give you a sense of the going rate and help you make an informed decision.

Here are some tips to keep in mind when changing money at the Blue Market:

Money exchange in Argentina can be a bit tricky due to the two exchange rates - the official rate and the Blue Dollar rate. The official rate is used by banks and government entities, while the Blue Dollar rate is the more favorable rate that can be found in the Blue Market.

If you're looking to get the best exchange rate, you should head to the Blue Market, where vendors offer rates that are 30-40% better than what you'd get from a bank. For example, if you exchange $100 at a bank, you'll get around 800 pesos, but if you go to the Blue Market, you can get up to 1,300 pesos.

To find the best rate, it's a good idea to shop around and compare rates from different vendors. You can also check the current Blue Dollar exchange rate online or ask around for the latest rates. Remember to count your pesos carefully before leaving the exchange office, as it's easy to get shortchanged.

Western Union is a popular option for sending money to Argentina, especially for foreigners and expats. Many people use Western Union because it offers a good exchange rate, close to the Blue Dollar rate.

It's worth noting that sending money via Western Union can take a few days to receive. After the first transfer, you might experience a delay of a few days before receiving the money.

Western Union has a mobile app that can be used to send money to Argentina, which is arguably the safest option. To use the app, you'll need to download it and figure out how to send yourself money, which can take about two hours.

On a similar theme: Exchange Rate U.s. Dollar to Philippine Peso Western Union

Once you've sent your money, you'll receive a special code. Then, when you withdraw your pesos in Argentina, you'll get the Blue Dollar exchange rate.

It's essential to note that Western Union branches often run out of Argentine Pesos (ARS), so it's best to visit one first thing in the morning. Fortunately, there are branches everywhere in Argentina, making it relatively easy to find one that has the money you need.

For your interest: 1 Year Tbill Rate

To find the official exchange rate in Argentina, simply type "dollar blue" into Google and the first URL that pops up will lead you to the current exchange rate from USD to ARS with Blue Dollar rate.

You can also get access to this information by visiting los Arbolitos at the start of your vacation and again in the middle.

If you're looking for a reliable place to exchange money in Buenos Aires, you can try the ENVIARg exchange offices. They offer an exchange rate close to the Blue Dollar rate, with a difference of no more than 1-2%.

You can find these offices in the central part of the city, with four locations conveniently situated. They're marked by a big "enviar" sign on the window.

The most central ENVIARg office is located on Av. de Mayo 1343, practically in front of the Palacio Barolo.

If you're staying in the Recoleta neighborhood, you can find two ENVIARg offices there: one on Rodríguez Peña 1580 and another on Pres. José Evaristo Uriburu 1718.

There's also an ENVIARg office in the Palermo neighborhood, located on Thames 1632.

Keep in mind that none of these offices are open on Sundays, so plan your money exchange accordingly.

Additional reading: Argentina Central Bank

You can exchange money at the Blue Dollar rate outside of Buenos Aires, but it's not always easy to find.

Some shops and cafes in tourist areas, like the center of Ushuaia Patagonia, offer an exchange rate close to the Blue Dollar rate.

Be sure to ask at your accommodation to find the best places to exchange money outside of Buenos Aires.

Almost every souvenir shop and cafe in Ushuaia had an exchange rate advertised at the counter, making it easy to compare rates.

It's a good idea to find the Blue Dollar rate in advance, so you can compare it to the rates offered by shops and cafes.

For your interest: How Can I Find My Apr Rate Credit Cards

Argentina has only one legal tender – the Argentinian Pesos (ARS). In most places, price tags are written like $1,000, and that’s why many confuse prices in Argentinian Pesos with US dollars.

The official exchange rate is fixed, but it fails to keep up with high inflation, resulting in a wide gap between the official rate and the real market value. This led to the creation of a secondary “blue dollar” rate.

As of May 2024, the exchange rate for 1 US dollar is 1,010 Pesos (to buy pesos) and 1,040 pesos (to sell pesos for US dollars. The rate will be slightly less, probably at around 1,000 pesos, but only for crisp $100 bills.

To avoid confusion, ask if prices are in pesos or dollars, especially when dealing with tourist services. This is because services tend to have prices in US dollars to avoid changing them every day as the blue dollar rate in Argentina changes.

Consider reading: American Dollars in Argentina

The Blue Market is where you go in Buenos Aires to get the highest exchange rate for the foreign currency you bring with you. It's not technically legal or monitored by authorities, but it operates in the open and changing money in the Blue Market is considered routine.

You can exchange your money at exchanges, but be aware that the rate will be slightly less, probably at around 1,000 pesos, and only for crisp $100 bills.