With the black market exchange rate running a 6.3 pesos to the $ vs the official exchange rate of 4.7 pesos to the $, I have been wondering about taking money when visiting BA next month.

I have heard that home invasions are increasing, and that everyone is really starting to covet $'s again.

Argentine's wanting to go on vacation have to get official permission to get $'s, and they are highly limited as to what they can get.

All housing transactions used to be done in $'s, but the market is very bad now because $'s cannot be used anymore for housing transactions.

So, I quite concerned about carrying money of any kind.

Peso convertibility now is a real issue because it is highly government controlled now.

Usually, when I go there (about 20 time in the last 10 years), I do not worry about money and take $1,000 / $1,500 with me, but with things the way they are not, I am wondering if just using a credit card for most things isn't just the best way to go?

I know people will probably say, "just deal with it", but there might actually be some better ideas.

Thanks in advance.

MM

I would think you would be fine with bringing cash, just stay somewhere with decent security and a private safe. You would actually probably be more at risk using ATMs, so if you have cash and can avoid them, I would think you would be better off.

I haven't been to Argentina for a few years now. Last I heard, prices were getting out of hand, especially in the clubs like Madahos. Have they come down more reasonably or are private casas the only way to go?

Not surprised. Kirchner seems to be copying Hugo Chavez's economic policies. I haven't been to BA, but can relate my experiences in VZ which is simular to the conditions you described. Take USD in cash and a lot of it. Someone will be willing to offer the black market rate: hotel, close friend, business owner, etc. I would advise against using a CC unless absolutely necessary.

Hugo limits dollars as well. To leave the country, my novia must first buy an airline ticket, then get permission from the government to leave the country. If permission is granted, she is only allowed 1000 cash and 200/mo credit for the year. Lots of desperate venezuelano's because of the economic conditions and the f**ked up government.

Looks like AR is going down the same path.

Maxmojo, do you hobby in Venezuela? That's someplace I've been very interested in, but haven't spent much time researching the scene or safety concerns. Any comments on hobbying there?

I was last there a year ago. Yeah, everyone wanted dollars for the rent and deposits, when I had to exchange pesos for $ I had to show my passport. No one mentioned the prospect of black market exchange, I have friends I expect would have told me.
Hugo has a very close relationship with the Kirchner machine, it began some years ago when he bought the country's debt.

Mrmeaner, I’ve been going to VZ about every eight weeks over the last two years to visit the novia. Have spent a lot of time in Caracas (CCS), Puerto La Cruz and Isla de Margarita with her family and friends. No time for mongering, but as a leopard doesn’t change its spots, I’m always on the lookout for potential opportunities.

Overall, the quality of chicas does not compare to Colombia –I’ve seen an abundance of gorditas and 5-6’s all over the country with the exception of the last few trips. I think my GF was intentionally keeping me from the hot spots until she felt I could be trusted. In Colombia, one’s neck gets sore from looking at all the beautiful chicas. Sadly, that is not the case anywhere I’ve been in VZ. There are hot looking women there, but definitely NOT in the same abundance as CO.

Opinions/observations: VZ is a VERY dangerous place. Life is cheap and even the locals are afraid. Was driving in from the airport to Chacao/CCS early morning rush hour when all traffic stopped and a continued hail of gunfire was heard to my right and everyone, I mean everyone was running for cover. The prison with its walls abutting the freeway erupted into a combat zone with inmates shooting AK’s, hi powered rifles and shotguns at each other. Scared the sh*t out of me! I asked my GF how can inmates have such weapons? She just shrugged, laughed and said “welcome to Venezuela”

CCS is a very expensive city at an official exchange rate of 4:1. Hotels and restaurants meet or exceed NYC in cost. Black market is another story and makes the city financially manageable with an 8:1 to 10:1 exchange, but still expensive by developing world standards. Chavez mandated all hotels from 5 star to 3 star reserve 10% of their rooms for slum dwellers who were displaced by the floods a few years ago. They are freeloaders who brought the ghetto mentality with them and make even the best hotels a little dodgy. Embassy Suites and Marriott have done an exceptional job of separating the “non-paying” guests from the paying ones, but still the surrounding areas can be a little dangerous after the sun goes down.

I’m sure there are private houses in the barrios and discreet massage places in the business district, but haven’t had time to investigate. Same with strip clubs; they’re there, but haven’t explored them. A few of the people I’ve gotten to know at the hotels and other places have whispered that they can provide exceptional company if wanted, but haven’t’ investigated as of yet. There is a small area a few blocks from the Marriott with street girls, but have only seen in passing. The ONLY safe area of the city is the Northeast (Chacao/Altamira/Campo Alegre).

There is an entertainment area called Las Mercedes that is several blocks in area and has many restaurants, discos and bars. Good place to see a lot of spectacular eye candy, but unless you can speak passable espaniol, bailar, and have a little game: forget it!

Middle-to upper class Venezuelanas are a lot of fun. They are a proud people with a quiet air of desperation. My GF told me that their last hope of saving the country is a Capriles victory this election. Many of his supporters believe that if Chavez wins, the US Army is coming to save them. Most of those with an education and a brain want out! So getting to know non-pros and scoring is, in my opinion doable because of the desperation to find a way out of the country. I’ve gotten a lot of flirtatious play (Latina style) from some very attractive women: front desk clerks, hostesses, shopping malls, out on the street, etc., convincing me that f*ck buddies can be had if one can spend more than several days in country.

Overall opinion of VZ as a mongering destination? At this moment, forget it! One would need at least a conversational fluency in Spanish, and even then, to venture out for the hunt with no knowledge of the hunting ground would, in my opinion, just be whistling past the graveyard.

MM, apologize in advance for hijacking your thread.

".. I asked my GF how can inmates have such weapons?"....reminds of a recent "Locked up abroad - Venezuela" show. It shows the armed gangs running the jail from inside, as well shoot-outs inside the jail.

I did visit VZ out of curiosity more than a year ago, changed money in a backroom at black market rates. It was an interesting trip, but would probably not go back there anytime soon.

Now what does interest me significantly is learning about trading Dollars on the black market in Argentina....it sounds like it is much more difficult and controlled there.

I visited Argentina a number of times and it seems like as the dollar goes up the prices there go up as well.....Probably the only way to truly find value is getting the higher black market rate and stay ahead of inflation.

My personal recommendation is to bring US dollars, mostly in $100 denominations if possible. You may want to bring some $50s and $20s in case you're near the end of your trip and do not need to break a larger bill. If you rely on ATMs and credit cards you will get screwed on the exchange rate. You will also need to avoid the registered cambios and stick to black/blue market cambios. You can find these via the people on Florida St and other places saying "Cambio" over and over.

At the time of my trip last August, the official rate vs the underground rate was approximately 5.5 pesos/USD vs 9 pesos/USD. Currently online currency convertors put it at approximately 6.5 p/USD vs 10 p/USD. If you do not bring cash, your trip will cost you a LOT more. Check the current rates before leaving for your trip.

Fake money can be a problem when using unofficial cambios or when receiving change.

I've included a few links below on identifying fake Argentine pesos, you can find more if you need to with a search. Most people seem to prioritize the feel of the bill. I didn't trust my sense of touch from past experience, so I paid special attention to the other factors as well: dashed to solid line in light, watermark that is NOT painted on, and clear initials. At least do a cursory review of EACH bill upon receipt and a thorough check before leaving the establishment.

Links:
http://santelmoloft.com/2011/07/22/fake-money-in-argentina/
http://santelmoloft.com/fake-or-real-quiz/ (a quiz!)
http://landingpadba.com/ba-basics-counterfeit-money/

While you're at it, you may also want to brush up on identifying fake US Currency.

If you don't like how a cambio looks, you can always change your mind and walk out. I felt most comfortable and did the most exchanges where the cambio was part of a travel agency, but that's also the only place I may have been given a fake bill.

Ask around for recommendations on cambios, but still do your due diligence on checking the bills during the exchange. If you find a place you feel comfortable, that might be a good place to return for further exchanges, but STILL check EVERYTIME.

At the cambio, individually inspect each of your bills (for real) before the exchange. This is just my own theory, but I believe if the cambio sees you inspecting your own bills, they know you'll be inspecting the pesos and will be less likely to give you counterfeits. If you receive a bill you think is ok but you're not sure, ask for a different one.