Exchanging dollars for pesos in Buenos Aires and getting from the airport to my downtown hotel

I have never been to Argentina, but I've recently traveled to three countries where I did need some cash--Turkiye, Albania and North Macedonia. I managed to get from the Istanbul and Tirana airports into the city just using my credit card. If I hadn't been able to do that, I'd have used an ATM at the airport but taken a hard look at the fees before deciding to withdraw just enough to get into the city (if the fee seemed to be based on the amount withdrawn) or somewhat more money (if the charge appeared to be a flat, per-transaction fee). I hate-hate-hate paying ATM fees, but I've done so on at least two occasions when I couldn't find an alternative.

You can usually avoid exchange-rate shenanigans by refusing the offer to conduct the transaction in dollars. You want to be charged in pesos. That should get you close to the inter-bank exchange rate. Doing the conversion at the ATM ("Dynamic Currency Conversion", or "DCC") is always a very, very bad deal for the customer. (The same rule applies when you're making purchases with a credit card.)

The bank that issued your ATM card may also charge you a fee, but if you've traveled elsewhere outside the US/Canada, you will be familiar with that charge already.

There are places where an exchange office is a better deal than an ATM--Albania being an example. I have no idea about the situation in Argentina. When dealing with exchange offices, you must be aware that they can make money off you in two ways: by charging an exchange fee and by giving you a poor exchange rate. Some offices may charge only the first; others may charge only the second; some may charge both. When I see a booth with a big "No exchange fees" sign, I suspect the exchange rate may be bad. When I see a very narrow spread between the buy and sell price (which is a good sign for the customer), I wonder whether there's going to be a large exchange fee. You should know the current exchange rate, then you can ask the agent how many pesos you will receive for $50, $100--whatever amount you're interested in exchanging. If you can get within 1% of the official rate, that is truly excellent (and it's possible in Albania). Within 2% wouldn't bother me in a country where I couldn't find no-fee ATMs. Above 2% would make me unhappy and send me looking for a better option--but I might not find one. Again, I haven't been to Argentina, so this is just general advice for dealing with cash economies.

Changing money and even getting from the airport to the hotel doesn't seem straightforward.

There are plenty of cabs. We never used a lot of public transportation on our trips to BA. Walking around the city is very easy. Go to an ATM to get your funds. Yes cabs are a cash business. Everything else we used credit cards.

We did Argentina back in 2014 when the government had money controls on the local currency. There was a black market that we used to convert for better than official prices.

I think the new President of Argentina has done away with monetary controls and substantially reduced inflation. So the need for black market exchanges may be unnecessary. Suggest doing some research.

Argentina is a special case; inflation is so rampant that figuring out the exchange rate at any point, and how to get the best rate, is nearly impossible. Read up on “blue dollars”.

You might ask your tour company for advice. When we were in Patagonia with a well-established adventure travel company in 2017, our guide advised us to use US dollars where possible as they are very welcome (and regarded as inflation-proof). He also said that for getting small amounts of pesos, ATM’s were the best source.

Since December 2022, by law foreign credit cards get a better exchange rate (one source says 70% better, but that may be an old rate and does not apply today!). Both Visa and Mastercard are eligible, but not other cards. More here:

https://www.visa.com.ar/support/consumer/travel-support/tipo-de-cambio-english.html#Does_it_apply_to_all_my_Visa_transactions_-b6a3

To get some pesos for your first taxi, you probably have no choice but to use an airport ATM. They are supposed to give you the “official rate” (whatever that is.) Is it possible that the advice about poor exchange rates at the airport were in reference to currency exchange services (cash for cash) rather than ATM withdrawals?

Here is some general advice from Western Union:

https://www.westernunion.com/blog/en/us/argentina-currency-guide-the-argentine-peso-ars/#:~:text=Opt%20to%20be%20charged%20in,you%20take%20out%20peso%20banknotes.

Note the advice to have the amount charged in Argentine pesos, not in dollars. Also note that various sources (mainly Reddit) have reports by people who did not get the preferential rate when they used their credit card.

And a bit from a conference organization affiliated with the University of Buernos Aires:

https://cnet.fi.uba.ar/netscix23/useful.html#:~:text=Exchange%20rate%20in%20Argentina,-As%20of%201&text=However%2C%20foreigners%20paying%20by%20foreign,Visa%20and%20Mastercard%20cards%20only.

That last is a perfect example of the inflation problem. It says that as of February 1, 2023, the official exchange rate was 1 USD = 186.5 pesos. And the special rate for foreign credit cards was 1 USD = 340 pesos. Today, less than 2 years later, the official rate is 1 USD = 1017.50 pesos. I cannot find the actual rate applicable to US credit cards.

https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=ARS

When I traveled to Argentina back in 2012, the advice at the time was to get pesos at the airport at Banco Nacional at the airport. It looks like that is still a frequently mentioned option and that the airport branch of Banco Nacional is open on Saturdays. Unless you find advice for something better, I would keep that as an option for at least a small amount and not worry too much about getting the best possible exchange rate every time. I also remember being advised to keep the receipt for currency exchange there.

I used the Manuel Tienda Leon shuttle service from the airport with their transfer from their terminal to my hotel. It was, and looks like it still is, cheaper than a taxi for one person but more than a public bus. This shuttle service takes credit cards. For travel to the airport at an early hour, I had my hotel arrange a taxi. Although you probably prefer a taxi, the shuttle service is a reasonable option in case you don't get cash.

I found the metro and busses easy to use in Buenos Aires (until the metro went on strike which made busses crowded and taxis harder to get). There was even a historic subway/metro line with stations listed in tourist guidebooks. Taxis were also fine if you are not into public transportation.

Thank you for all the thoughtful and informative replies. I had consulted different resources and somehow missed the Manuel Tienda shuttle service. That seems like the best match for me. I prefer to save money when possible and this sounds like a very reasonable option. I can buy a ticket online even before I leave so will not need cash immediately and can avoid the ATMs at Ezeiza.
The instability of the Argentinian peso does present money changing issues unique to Argentina. It seems that to get a far better exchange rate one should bring American dollars in crisp, new $100 denominations and use the "Blue Market exchanges". I have relied on ATMs in Europe for years now so this is new for me. I have never felt safe carrying large sums of cash in any denomination so I may have to suck it up and get what cash I need from ATMs in Buenos Aires. Mostly, I'll be able to use my credit card (ones with no foreign exchange fees) but I imagine there will be situations where only cash is accepted like the Feria San Telmo.

I wish Rick Steves had written a guidebook for Argentina and Chile. I have been reading Lonely Planet, and while it gives excellent information, it doesn't give the level of practical travel information that Rick Steves gives.

I can't speak to more recent editions, but I found the Rough Guide to Buenos Aires very useful.

I don't think what happened in 2012 will be how it is today in Argentina. The new President has been in charge for about a year and seriously reduced inflation.

I found two articles on the internet on the subject.
https://www.batimes.com.ar/news/economy/why-milei-cant-lift-argentinas-currency-controls-any-time-soon.phtml
https://www.bloomberg.com/news/articles/2024-07-18/argentina-overcomes-key-hurdle-impeding-end-of-currency-controls
The Bloomberg article indicated the end of controls, but I don't have a subscription and can only read the headlines.

According to charts like this, the inflation rate seems to be coming down right now, but that is from a high of 289.4% in April of 2024:

https://www.statista.com/statistics/1320016/monthly-inflation-rate-argentina/

The inflation rate was relatively stable (wavering around 25% to 50%, which is not low) from January 2018 to April of 2022, then began to rise rapidly. In September of ‘23 it went up like a skyrocket, from 138% to that April 2024 figure of nearly 300%. (Touch the graph at any point to see the actual number). Then it began to decline steeply, down to 193% by October, the last reported date on that chart.

Here is another graphic depiction, this one a bar graph:

https://tradingeconomics.com/argentina/inflation-cpi

So maybe the currency controls are having an effect, but inflation is still a big problem.

One of the small adventure travel companies that we use for guided hiking tours announced that their March 2024 Patagonia hiking trip would be their last in that area, because of the inflation. They could not figure out the projected costs for the trip and could not set a price until about 6 months ahead of the departure date. Friends of ours signed up for that trip and didn’t know what they would pay until that late. As it turned out, the company lost money on that trip, because they could not accurately forecast that precipitous rise in inflation in late 2023 you can see on the chart.

https://tradingeconomics.com/argentina/inflation-cpi

The rate is way down.

Hi, I am a first time poster. I have been reading the forum for a few years.

I was in Buenos Aries Jan 2024 at the end of a cruise. We had an overnight (the ship arrived Sunday morning and we didn’t have to disembark until Monday morning). I had read about the Feria San Telmo and took my very first Uber Sunday from the cruise ship port to San Telmo. A web article recommended Uber over a taxi since I didn’t have pesos and Uber would have a record of the driver. The ride was ARS 2,998 ($4-5 back then). Monday morning when I tried to get an Uber to take me to my hotel the App didn’t respond. I took one of the local shuttles servicing the many cruise ship passengers. When I flew home a few days later I took Uber from my hotel (near San Telmo) to the airport and it was ARS 17,514 (ARS=Argentine peso).

I had brought some small US bills and some crisp $100 US bills after reading many articles about the exchange rates.

At the Feria San Telmo there is a Western Union office on the street and it was open, but I did not use it. Some of the vendors would figure out the exchange price and accept my smaller US bills ($1s, 5s, 20s), some would figure out the rate and accept a credit card, and a few would didn’t take the US dollars or credit cards. I didn’t try to buy anything with a crisp $100 bill. I don’t speak Spanish, but I think I was able to communicate adequately with the vendors.

I walked from South to North and covered most of the fair. I eventually ended up at the Plaza de Mayo, and decide to try to exchange money on Calle Florida (to the North of the plaza and in the general direction of my cruise ship).

Just about every block had the “Cambio Cambio” people on the street soliciting. They would guide you into a shopping arcade comprising the first floor (street level) of a building where the office was located. I walked a few more blocks, went into a building unsolicited and observed two exchange places serve several people. The two places had similar rates so I pulled out a crisp $100 bill and went to one. They have these huge wads of pesos bundled with a rubber band for the exact amount and it was quick. I got over ARS 100,000 for $100, I think around 120,000. Most of the bills are ARS 1,000 so you had a huge stack of money. This was the blue dollar rate, the official bank rate at the time was around 80,000 for $100. As this was on a Sunday, I think they are open 7 days a week. Later in my hotel room I divided my stack of 1000 peso bills into three piles and only brought two piles (in separate pockets) when I went out. I never had a peso bill refused as a counterfeit, but that was just my experience.

At the time the credit card rate was very close to the blue dollar rate so I had no hesitation to charge purchases when given the opportunity and to conserve my pesos while in BA. I did try to use my pesos strategically to avoid having too much left over at the end of my trip. I recall using my credit card to tap to pay a few times, even for small purchases (a bottle of soda).

I believe the official bank rate is currently closer to the blue dollar rate than in was back in January 2024.

I never took a taxi. I never took a bus. I did use the subway several times. You have to use a Sube card on the subway. I used my pesos to buy a Sube card from a manned ticket booth at Plaza de Mayo. Rides are 30 cents, and the card itself was less than a dollar. I think I put ARS 5000 on the card to start and added more later. Google maps was very helpful. I had downloaded an offline map of the city, but my eSIM (Airalo) worked great.

This info is close to a year old and relying on memory, as I have not found my notes yet. But it is firsthand and one of the more current experiences. I hope it helps.

Any information about Argentine money situation before 2014 will be grossly outdated now. So googling needs to be done with proper time filter on search results.

Here are few points from recent visit:

1. Do not use ATM. Not only you get lousy rate and limit on how much you can withdraw is very small and fees are ridiculously high (for a very valid reason)

2. Using American Bank issued credit card will you get both fraud protection and excellent exchange rate

3. Blue dollar rate premium over what you get on credit card has almost disappeared. So other than small amount for street vendors and restrooms, you do not need to exchange money in BA.

4. Ignorant and poorly Informed Americans think that new President has done a great job (which he has for international investors) but reality is a very brutal suffering of millions of Argentine folks. Inflation has been cut by giving middle class and govt employees little or no raises in spite of triple digit inflation. (Compare that to whinning we heard for 10 months during which inflation was between 5 and 9 in USA). Resulting hardship has contracted economy (and hence inflation) but hardship and suffering has resulted in significant increase in petty crime, brazen street mugging and homelessness (your well wishes will give you laundry list of safety instructions) Situation is nowhere as bad as Rio but certainly much worse than NYC of 70s/80s

Buenos Aires is beautiful city to walk, enjoy food and culture but you have to follow the safety tips given by the locals

Travel Junkie,

You have given a very succinct summary of what I have learned from this forum and other resources. Thank you. In addition, I talked to someone who recently traveled in Buenos Aires. I am not sure the person was concerned about getting for the best exchange rate, but he mostly used a credit card, and what cash he needed, he found that store keepers were perfectly happy to take US dollars, write down the exchange rate on a piece of paper and give change in pesos. These transactions gave him enough Argentinian pesos for the few situations that required cash.

He used Uber for transportation.

I was going to use the

Whoops. I got cut off. I was saying I was going to use the Tienda Manuel Shuttle service to get from the airport to Buenos Aires but I cannot get the form on the app to accept my phone number (using +1) so I'll probably use an Uber.

I also couldn't successfully use the form to get a ticket for Palacio Barolo (an ID number is required which seems to be a number Argentineans have but I do not). It's possible my passport number would work but I am dubious about sharing my passport number. I am going through a tour operator instead, where it costs twice as much.

I am back from three weeks in Argentina and Chile and want to update as to what I found regarding transportation and obtaining currency. It was a spectacular trip and I thoroughly enjoyed each day I was there.
Taking the Manuel Tienda shuttle from the Ezeiza Airport (EZE, the international airport) could not have been easier. When you leave passport control, you walk into a small room with different vendor windows for transportation. You could hire a taxi service, rent a car, or in my case, learn how to use the Manuel Tienda shuttle. I was given directions as to how to find the shuttle (look for MacDonald's, turn right and follow signs to the appropriate exit). You buy a ticket at a booth next to the bus, and hop onto a comfortable air-conditioned bus, credit card accepted. It cost me $8.70 to get to the Terminal Madero Ciudad de Buenos Aires. From there, I used Uber to get to my hotel by Plaza de Mayo. It cost me $4.92 with a credit card, and I gave the driver a $1 tip with an American dollar. He looked happy.

I never used the Subte system (the Buenos Aires underground system) which I meant to as cost-saving and as an experience as I found using Uber inexpensive and so easy. I saw many Subte stops but I am not sure how easy it is to get a Subte card. The person who I asked said not all subway stations sell Subte cards, although once you have one, you can add credit to your card at all stations. Some small stores (kiosks) also sell the cards, but the ones I tried, did not. I eventually spotted one that did, but by that time, I was using Uber.

You can use a credit card for practically everything EXCEPT, and this is a big EXCEPT, tips at restaurants, and tips for tour guides. Also, the public bathroom at the San Telmo market required a 1,000 Argentinian peso note although an American dollar was accepted there. Side note: I usually could find a bathroom and they were always very clean. This was the only time there was a charge. For tips, you could use American dollars but I had not brought enough ones, especially for restaurant tips (10% of the bill). My recommendation is to bring at least twenty ones, if not more, and at least ten fives, if not more, for the small expenditures. I ended up exchanging a $100 bill at the Galeria Pacifico (and they only take $100 denominations), which is the only exchange office in BA open on a Sunday. They rejected the first $100 bill I presented as it had a small blue dot of ink on the back of the bill, so examine your bills carefully before you leave your bank.

It didn't get dark until 10:00 p.m. and I wasn't out after that (and probably missed a lot of Argentinian night life) but I NEVER felt unsafe or that pickpockets were eyeing me so carrying cash in quantities larger than I usually carry ended up not bothering me.

The best way to get the best exchange rate is to use Western Union and send your American money there to be picked up as Argentinian pesos. I talked to an American couple who successfully did this but the only Western Union (although there are many) where you can access your money is located at the corner of Cordoba and Montevideo. I don't know the hours they are open though.

People do seem perfectly happy (and may prefer, especially tour guides) to accept American dollars. Once I bought a bottle of water from a kiosk with a $5 bill and was given AR pesos as change, but the owner wouldn't accept a $20 bill.

Some small artisans/craftsmen accept credit cards, but some don't, both in AR and in Chile. I used an ATM in Chile, not getting a good rate of exchange but I wanted at least a small amount of Chilean pesos. I used American currency or the local currency when leaving tips for maids in hotel rooms in both countries.

Lauri,
Thank you for coming back to the forum and giving us your excellent and informative report. I am happy you had such a wonderful trip!