The dual rate began after the government initiated a number of restrictions on currency exchange in an attempt to prop up the fledging peso and reduce capital flight (ie investors taking their fortunes out of the country). When a shopkeeper recognises you are a tourist, you are likely to be offered an upfront deal: “We accept dollars at 12 pesos”, or something similar. Some will work to the blue rate, even though that is illegal, or they will come close to it. Many businesses, including hotels and restaurants, will accept US dollars. The Argentinian market, which experienced a complete economic meltdown in 2001/02, has quickly adapted.
If you want to stick to using US dollars in your day-to-day transactions, that’s common too. Binance USD (BUSD) es una stablecoin (moneda estable), lo que significa que su valor est vinculado a una moneda fiat, en este caso, al dlar estadounidense. No results for ethereum valor dolar><<2888U-ethereum valor dolar><<2888U-ethereum valor dolar><<2888U-ethereum valor dolarpL.Other tourists simply head to central shopping streets and respond to not-so-subtle calls of “Cambio! Cambio!” (exchange) the wise ones having checked the current rate first, so they can barter. So how do you track down the more favourable blue rate? Many foreign visitors set up a local contact who can make the change, or ask their hotel to recommend a “cueva” (literally meaning cave in reality, more like fully functioning businesses, accepting dollars, euros and pounds). Taking plenty of hard cash contradicts the usual advice to tourists travelling abroad, but many visitors to Argentina have been doing just that to take advantage of the black market rates. In short, you can change your money at an official outlet for one price or you can go to an unofficial trader and get it changed at the “blue” rate – which will put many more pesos in your pocket. Since the country’s government introduced tough currency change restrictions on its people, a black market has emerged.
This is the best price you’ll get if you are buying or selling physical bills, and the transaction is done with no involvement of any government-sanctioned or licensed entity (like a bank).
This is the cost of buying and selling a physical dollar bill in a cueva, or clandestine financial house in Buenos Aires. Blue Dollar AKA Dólar Blue or Unofficial Dollar is parallel dollar rate of USD in Argentina. Cuenta global en la nica moneda estable respaldada 1:1 con el dlar americano.
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