To make sure folks dont get ripped off by some money changers that are out there, I like to keep an updated thread of what you should be getting for each of your Greenbacks.... Current (sell) rate is AR$4.05 which means that a fair price will be at least AR$3.98 and a decent rate would be AR$4 - 4.01 for each Dollar, anything above is a very good rate.
Two important websites are: www.dolarhoy.com - you will see the buy/sell for many banks, plus the average. www.xe.com/ucc - this site's rate is generally within 1% of what your ATM or credit card transaction will be (without consideration of fees)
Current rate is AR$4.33 - expect to get at least AR$4.25 per Dollar at reputable exchange locations. Stay away from the crooks at Global Exchange !!!!
The rate at the Banco de la Nacion Argentina at EZE on the 30th was 3.73. I was astonished that it could be so low after reading this thread. Their ATM swallowed my debit card and did not return it too, although it did give me my money.
Thats about right.... the Banco Nacion will give you a slightly better rate, 4.32 - 4.33 was their rate when I arrived at EZE on Sunday.
Thanks for the info, I will be arriving this Sunday AM. Banco Nacion is the best place to exchange or should I just use the ATM?
Beware of ATM fees. You might get hit with a $1.50 to $3.00 fee from the ATM you use plus your card may impose a 1% Forex (foreign exchange) fee. So if you wanted $100 at a rate of 4.30 where you would get 430, you would pay fees of at least $2.50 and maybe $4.00. This would really knock down your effective rate. Lessons -- Do not use ATM for small amounts of cash. I always take at least $200 at a time to spread the ATM fee. The Forex fee is proportional so size does not matter. Get a debit card without Forex fees. There are plenty of those available today. Get a debit card the reimburses ATM charges. This is a bit harder to do. My Schwab card has no Forex fee and reimburses ATM fees. Once in Rio I used a hotel ATM and was charged over $8.00, all reimbursed. With the Schwab card I can ignore tip one and take just what I need.
