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ys
Jul 14th, 2003, 06:29 PM
I will probably be travelling to Argentina next month, and I need some advice. One of travel agents supplied the memo about current state of financial operations in Argentina which is in part messy, and sometimes difficult to believe in.. Could you please comment on that? Thanks in advance..


Here is the excerpt from that memo:

---------------------------
However, using your money in
Argentina may pose a challenge. The dollar may still be
accepted - indeed welcomed - many places, but using it is
not legal and travelers should be aware of this. There are
reports of long lines of several hours at currency exchange
offices (though there may be special treatment for people
WITH dollars wanting to GET pesos) and there have been
reports of difficulties using credit cards and travelers
checks.
At this point, we suggest you keep the following in
mind:
You should expect to NOT BE ABLE TO GET CASH DOWN THERE. You will
probably (but not definitely) be able to exchange US$ for
pesos, but you will NOT be able to change pesos back to
dollars. IF you exchange money, they should do so in the
state (province) where you are going to spend it. Each
province is printing it's own money, and it is not valid in
the other provinces. You will be able to spend US$, but you
will not be able to get change back from any transaction,
so you should carry lots of small bills and you should be
very discrete about having this cash - actual US currency
is what people down there most want right now. Traveler's
checks also MAY OR MAY NOT be accepted. They probably will
be, particularly at major banks or hotels, but it's
possible they won't. The beauty of a traveler's check is
you can get your money back, whether or not you use it or
it's stolen.

If we were going to Argentina tomorrow, we would take (per
person):
$100 in $1s $100 in $5s $100 in $10s
As much additional cash as you feel comfortable carrying.
$500(ish) in Traveler's checks, probably in denominations
of $50, but no larger than $100.
Again, because one will not be able to convert the money
back into US$.
-----------------------------




Few things that I don't understand or have hard time believe in:

1) They say that using $ is illegal, yet they suggest taking a lot of
notes of small denomination. Would I use $1s in exchange shops? That
sounds strange.

2) Is it really true that every province has its own money and Buenos
Aires money would not be accepted in Mendoza? I am coming from a
country that seems to alsways have some economic problems and difficulties with forex operations. So nothing would
really surprise me, but I find it really hard to believe.

3) They talk about exchange of cash. What about ATMs? In all
countries I've been for last 10 years I never had to use currency
exchange offices to get local money, ATM always worked, whether it
was Russia or South Africa or Greece, and I could get all cash I need from there.

4) What is generally a buying power of $ over there?

5) Is the situation described in the report above can be considered
as "current"? Or is report somewhat old?

Central
Jul 14th, 2003, 06:54 PM
Well, I am Argentinian, but I don't live there... I'm not sure if I'll be helpful.

I've heard/read that every province is printing its own money, but if you use US dollars or pesos, I don't think you should have problems.

And about not carrying big bills, and not too much... yep, it's true. :rolleyes:

ys
Jul 14th, 2003, 09:11 PM
Thanks, Central...

azza
Jul 16th, 2003, 04:35 PM
:)