Currency and money in Argentina

To prepare for your trip to Argentina it is important to ask the following questions:

1. What’s the local currency in Argentina?
2. Where can I exchange money in Argentina?
3. Should I carry cash or are credit cards widely accepted?
4. Are there ATMs available?

1. Local Currency:
   • The local currency is the Argentine Peso (ARS).
2. Exchanging Money:
   • Currency Exchange Offices (Casas de Cambio): These can be found in major cities and at international airports. Rates at the airport might be less favorable than in the city.
   • Banks: You can exchange money at most major banks in Argentina. However, expect longer wait times compared to dedicated currency exchange offices.
   • Informal Markets: While there’s an informal exchange market known as the “blue dollar” rate, be cautious as it’s unofficial and can come with risks, including counterfeit currency.
3. Cash vs. Credit Cards:
   • Cash: Cash is preferred in many places, especially in smaller towns, local markets, and for small purchases. It’s always a good idea to have some pesos on hand.
   • Credit Cards: In urban areas and tourist destinations, most hotels, restaurants, and large stores accept major credit cards. However, always ask first, especially in smaller establishments. Inform your card issuer about your travel plans to avoid potential blocks on your card.
   • Debit Cards: Useful for withdrawing cash at ATMs.
4. ATMs:
   • Availability: ATMs are widespread in cities and towns. Look for networks like Banelco or Link, which are common ATM systems in Argentina.
   • Fees: There might be a transaction fee for international cards. Also, the withdrawal limit can be relatively low, so you may need to make multiple withdrawals for larger amounts of cash. Keep these fees in mind.
   • Safety: Always use ATMs in well-lit, secure areas, preferably inside banks or shopping centers.
5. Informal Economy: Due to economic fluctuations in Argentina, there’s a noticeable informal economy. You might encounter vendors or even some establishments that offer better rates for payments in USD. Always be cautious in such transactions and prioritize your safety and the legitimacy of any deal.
6. Tipping: While not obligatory, it’s customary to leave a tip of around 10% in restaurants if you’re satisfied with the service. In some tourist areas, this might be expected.

Always be aware of the current economic situation in Argentina before your visit, as the country has experienced significant currency fluctuations and economic measures in the past. It’s advisable to stay updated closer to your travel dates.