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News Feed Comments. Until Argentina regularized its currency situation in late , these money changers offered dollar and euro exchange rates that were much better than the banks.
This is no longer the case but with the coming return of previous administration in late , the black market for currency is expected to grow again. Today, banking is more normalized in Argentina and the parallel currency market is much smaller. In fact, for the first time ever from mid until the arbolitos who remain in business gave slightly less for dollars or Euros than at the bank.
Between the years of travelers no longer were coming to Argentina carrying wads of foreign cash, but the money changers remained because Argentines prefer to save their money in dollars instead of the inflationary peso. To change foreign currency at the bank, visitors with no local bank account have to go to the National Bank with a passport, and typically wait in a long line for the simple transaction.
Those who want to skip the line and change money on the black market are still advised to find a reliable exchange house and not to do transactions in the street.
Wander Argentina is happy to advise our clients of reliable, safe currency exchange houses. The main problem with using an atm to withdrawal cash while in Argentina is that the withdrawal limits are low and the fees are high.