Money In Argentina: How To Handle Blue Dollar & MEP Rate 2024
As a tourist, it is crucial to know what the MEP rate in Argentina and the Blue Dollar are. In a few words, money in Argentina is a mess. If you are planning a trip to this South American country, you need to understand the different exchange rates of pesos to the dollar. I will explain the dólar blue and the MEP rate in Argentina, give you all the information you might need on money in Argentina, and share my first-hand experience after my last visit to the country in 2024.
Keep reading and travel to Argentina prepared to get the most out of your trip and your money. Here’s my guide to money in Argentina, updated after my last trip to Argentina in 2024.
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What Is The Money In Argentina
The official currency in Buenos Aires and Argentina is the Argentine Peso. There are 20, 50, 100, 200, 500, 1000 and 2000 peso bills. The 2000 peso bill was introduced a few months ago and is not yet widely available. You will most often see 1000 and 500 peso bills. Coins are rarely used.
Currency In Argentina: Understand The Blue Dollar
The Blue Dollar is the unofficial or black market foreign currency exchange rate in Argentina. Although unofficial, you can find the Blue Dollar rate in Argentina published daily in newspapers and online.
In March 2023 the parallel Blue dollar exchange rate was almost double the Argentine peso official rate. A year later, the money exchange in Argentina has changed.
The newly elected Argentine government changed overnight the official rate from 366 to 785 pesos for one US dollar. At the end of September 2024, the official rate is around 850 pesos for $1 USD and the blue dollar rate fluctuates around 1200-1250 pesos for a US dollar.
A $100 bill in perfect condition is highly appreciated and will get you the best rate of money exchange in Argentina.
Apart from American dollars, you can also exchange euros for local currency at the blue rate. Argentina currency to Euro blue exchange rate is fair. You get more pesos for 1 euro than for 1 USD, proportional to the dollar/euro exchange rate difference.
Argentine Peso To USD: Different Types Of Current Exchange Rate Used In Argentina
If you are planning a trip to Argentina for the first time, you will probably feel very confused about the many different exchange rates of the Argentine peso. I was too. Here is all you need to know about money in Argentina, the MEP rate and the Blue dollar rate.
The Official Exchange Rate
This is the exchange rate used by the banks. If you exchange your money in Argentina in a bank, this is the rate you’ll get.
In September 2024, the different exchange rates are as follows: the official exchange rate is 940 pesos for $1, the dollar blue rate is 1225 pesos for $1 and the MEP rate is 1200 pesos for $1. As you can see, the official exchange rate is the least favorable of all of them.
The Blue Dollar Rate
When I exchanged my dollars for Argentine pesos at the Blue Dollar rate in Argentina in March 2023, I got almost double the bang for my buck. And everything I paid for was half the price.
The prices of tours and activities in US dollars seemed high, but with the black market Blue dollar rate, they became reasonable and even cheap.
The Dolar blue black market exchange rate is no longer as favorable for foreign tourists as you can see from the rates above. As the rates change daily, you’d better check them here.
The MEP Rate In Argentina
The MEP rate is another exchange rate that is important for you as a foreign tourist to have in mind.
When paying with a foreign VISA or Mastercard, your foreign credit card will be charged at the MEP dollar rate. There will be a few percent difference depending on the country and the bank that issued your card. Since the MEP rate is close to the Blue Dolar rate, there’s virtually no difference between exchanging your currency at the Blue Dolar rate and paying with your foreign credit card.
The MEP rate applies also to American Express cards, though they are rarely accepted in Argentina.
With the new MEP rate in Argentina, I preferred to use my credit card. I found it to be more convenient despite the little difference in comparison to the blue dollar rate. Here is why I preferred the MEP rate in Argentina in 2024.
Imagine this: you exchange a $100 bill at the Blue Dollar rate. You will get about 120,000 pesos or 120 1,000-peso bills. If you are lucky, you might get 60 2,000-peso bills, although the 2,000-peso bill is not very common. Either way, that’s quite a pile to carry around. I don’t feel comfortable carrying large amounts of money, so I preferred paying with a credit card using the MEP rate in Argentina.
Dolar Tarjeta And Dolar Turista
You can also see these two exchange rates. Just ignore them, they don’t apply to tourists. These еxchange rates apply to Argentines when traveling abroad, buying goods from abroad, or exchanging pesos for foreign currency.
You may have noticed that they are also the most unfavorable. This is one of the reasons for the existence of the blue dollar and the black market exchange rate.
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Book your accommodation at the lowest cost at booking or hotels. Click on the links and book at the best price.
Compare the prices for your flights on skyscanner, although I recommend booking directly with the airline of your choice for better customer service.
Find the best tours and activities on viator and getyourguide. Some of them fill up quickly, so click on the links and secure your spot now.
Avoid paying high roaming charges. Stay connected with an eSIM from airalo.
No matter where you go: Never travel without travel health insurance.
Everything else that you might need to plan your trip to Argentina, you will find on my page of Travel resources.
What Is The Best Currency To Take To Argentina
The best currency to take to Argentina is US dollars, preferably in $100 bills. For new 100 dollar bills with a blue strip in perfect condition, you will get the best rate on the black market. That’s why the parallel exchange rate is called Blue dollar in Argentina.
If the euro is your currency, don’t bother exchanging it for US dollars. Crisp 100 Euro bills will also get you the best rate, which is the Blue euro rate.
Does Argentina Accept US Dollars
The short answer is no. You can’t pay with UD dollars. You will have to exchange them for Argentine pesos first.
Using Bank Cards in Argentina 2023 vs 2024
In 2023, the Visa exchange rate in Argentina was at the MEP rate at the time of the transaction. Mastercard charged at the official exchange rate and credited the bank account with the difference a few days later. The MEP rate did not apply to Amex credit card payments.
As I already told you things have significantly changed a year later. In 2024 Mastercard charges credit cards with the MEP rate at the time of the transaction too, so no waiting a few days to see the exact exchange rate. The MEP rate in Argentina applies to AMEX credit cards too. You can also use a debit card in Argentina and will get the MEP rate too.
Are Credit Cards Widely Accepted In Argentina
Most hotels, restaurants, supermarkets, and travel agencies accept credit cards. If planning to use a credit card and the MEP rate in Argentina, bring your Visa or Mastercard. American Express is rarely accepted in Argentina. Many merchants will offer you at least a 10% discount if you pay in cash.
Currency Exchange In Argentina
Banks
Banks are the worst place to get cash in Argentina. They will give you the most unfavorable exchange rate, which is the official rate.
Cuevas
These are stores or offices which are the underground exchange houses. This is where they will exchange your money at the blue dollar market rate.
Western Union Argentina
You can send money to yourself and withdraw it at Western Union Argentina. I’ve heard Western Union Argentina gives an exchange rate equal to or close to the blue dollar rate. I haven’t used Western Union though. Other travelers said there were long lines in front of Western Union offices and they often ran out of peso bills.
ATMs
ATMs are widely available to withdraw cash in Argentina, though there are possible issues to keep in mind:
- Some ATMs have low withdrawal limits
- The exchange rate can be less favorable
- ATMs often ran out of money
- There are usually fees associated with ATM withdrawals. Check with your bank for the international ATM withdrawal fees that apply to your credit card. There may also be ATM usage fees.
Where To Exchange Money In Buenos Aires Argentina
Calle Florida
Calle Florida (Florida Street) is a pedestrian street in downtown Buenos Aires and all major Buenos Aires attractions are close by. As you walk down it, you will hear people shouting “Cambio, cambio” (change, change). You may see them in other places in the central area too.
They will all claim to give you the best exchange rate. It is a good idea to know the current rate before going there to know what exchange rate to expect.
They will direct you to a nearby cueva (a shop or an office) where they will exchange your money at the blue market rate. Don’t forget: a $100 bill in perfect condition is highly appreciated and will get you the best rate. Euros in perfect condition are also appreciated.
Enviar
If you don’t feel comfortable exchanging money in Argentina on the street but still want to get a better rate, the best place to do so is at an ENVIARg exchange office. ENVIARg exchange offices are green with a big “enviar” sign on the window.
ENVIARg exchange offices will offer you an exchange rate close to the unofficial exchange rate of the blue dollar (i.e. with a difference of no more than 1-2%).
The rule of the $100 bill in perfect condition applies there too.
You can find four ENVIARg offices in Buenos Aires, conveniently situated in the central part of the city and most probably there will be one close to your hotel. You can find them at:
- Av. de Mayo 1343, C1958ABD CABA – This is the most central one. It is practically in front of the Palacio Barolo.
- Rodríguez Peña 1580, C1012 CABA – This one is in the Recoleta neighborhood. Very convenient if you are staying there.
- Pres. José Evaristo Uriburu 1718, C1114AAT CABA – Also in Recoleta.
- Thames 1632, C1425 CABA – This one is in the Palermo neighborhood.
NOTE: None of these offices is open on Sundays.
Exchanging Money in Argentina At Ezeiza Airport (EZE)
Avoid exchanging money at the Buenos Aires International Airport Ezeiza. You will get the worst possible exchange rate.
Wait until you get to the city and exchange your currency in Buenos Aires downtown. To get to the city of Buenos Aires without without the need to exchange money, you have several options:
- Arrange a transfer with your accommodation;
- Book a private transfer;
- Use the free WiFi at the airport to call an Uber. Pay with your credit card through the app. You can even tip the driver through the app.
Exchanging Money in Argentina: The Blue Dollar Outside Of Buenos Aires
You might be wondering if you can exchange money at the Blue dollar rate in Argentina outside of Buenos Aires. Yes, you can. If you plan to go to Iguazu Falls, El Calafate, or Patagonia, you will find many shops and coffee shops offering an exchange rate close to the blue dollar rate.
In the center of Ushuaia Patagonia, almost every souvenir shop and cafe has an exchange rate advertised at the counter, though expect around 10% less favorable Blue dollar exchange rate in comparison to the Blue dollar rate in Buenos Aires. As a conclusion, outside of Buenos Aires, the MEP rate might be the most favorable exchange rate.
If you have any doubts about exchanging money in Argentina, ask your accommodation for advice.
Read also: 21 Epic Things To Do In Ushuaia
How Much Cash To Bring To Argentina
The amount of cash to bring to Argentina will depend on how long you will stay and what you plan to do.
Just a thing to consider: in case you prefer to pay in cash, if you exchange a $100 bill when you pick up the cash you will get around 100,000 peso notes or nearly a hundred bills of 1000 pesos each. That’s a large amount of cash to carry around.
Safety in Buenos Aires, as in any big city around the world, can be an issue. Always use common sense, don’t flash money around, and maybe consider wearing a money belt.
With the new MEP rate in Argentina, I preferred to use my credit card. I found it to be more convenient despite the little difference in comparison to the blue dollar rate.
How Expensive Is Argentina
A year ago Argentina used to be a very affordable destination. The situation in Argentina has changed a lot in a year, especially when it comes to prices and the blue dollar rate. The official peso exchange rate is almost on par with the blue dollar and prices have gone up 2-3 times.
Overall, Argentina is not as cheap for foreigners as it was not long ago.
What Does The Price Tag “$100” Mean
I often saw price tags that started with a $ sign. At first, I almost had a heart attack. Well, such tags do NOT mean US dollars. ‘$100’ means 100 Argentine pesos. If the price is in US dollars, the price tag will look like ‘US$100’.
Tax-Free Shopping In Argentina
In theory, any purchase over 70 pesos (a few cents!) that you take out of the country entitles you to a VAT refund at customs. During my months of traveling around the country, I didn’t see a single store with the Tax-free logo. Those I asked about it said they didn’t issue the required Tax-free form.
Tax-free Accommodation In Argentina
Foreign travelers paying with a foreign VISA or Mastercard are exempt from paying 21% VAT at hotels. With this in mind, the prices you see on tripadvisor.com, booking.com, or other similar websites are already VAT-free.
Most accommodations list their prices in US dollars. When you have to pay, they will convert the US dollars to pesos at the official rate. If you pay by a foreign credit card, no VAT will be charged and the price in pesos will be converted at the MEP rate. If you choose to pay in cash, 21% VAT will be added to the accommodation price.
The VAT exemption does not apply if you rent an apartment on Airbnb.
Based on my experience, I could say that hotels avoid prepayment and most prefer to be paid on the last day of your stay. No wonder with the high inflation in the country.
To Wrap It Up: Different types of rates are applicable to money exchange in Argentina. Three of them are of importance to the tourists: the official rate, the blue dollar exchange rate, and the MEP rate. Understanding the money in Argentina will help you get the most favorable exchange rate.
I hope after reading this article you already feel more comfortable and confident and looking forward to your travel to the best places to visit in Argentina.
Planning a trip to Argentina? Read my guide on the best hotels in Buenos Aires
or click on the map to choose accommodation.
FAQ
The currency used in Argentina is the Argentine peso.
Buenos Aires is the capital of Argentina and the currency used is the Argentine peso.
No. Though there might be some exceptions, you will have to exchange your US dollars for Argentine pesos.
Find everything you might need for your travels in one place on my Travel Resources page.
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