Tourists to Argentina set to benefit from new exchange rate
In recent years, a moment often came when a visitor to Argentina suddenly grasped they could have gotten a lot more bang for their bucks if only they had brought cash to buy pesos on the unofficial market
BUENOS AIRES, Argentina (AP) — In recent years, a moment often came when a visitor to Argentina suddenly grasped they could have gotten a lot more bang for their bucks if only they had brought cash to buy pesos on the unofficial market.
A dollar sometimes would buy twice as many pesos in informal cash trading as the amount in pesos it would get in purchases using a credit or debit card covered by the official exchange rate.
“You can almost hear the blood drain out of their voice when they realize this,” said Jed Rothenberg, owner of a travel agency that specializes in trips to Argentina.
That should, at least in theory, be a thing of the past as of Friday. The government has implemented a new regulation allowing visitors using credit and debit cards to get more pesos than the official rate gives.
