Looking for a crash course in economic acrobatics? You've come to the right place! ;) Don't worry, we're here to help and to answer any questions that you might have about this issue.
First things first: Argentina's local currency is the peso (ARS). Most places accept credit cards, but you'll definitely want to have some pesos in cash on hand during the trip, especially for things like taxis, tipping, and small purchases (like buying a water at a convenience store, for example). In Argentina, cash is queen!
The USD-ARS exchange rate fluctuates frequently due to inflation and other factors. We suggest checking it a couple of weeks before your trip here so you have an idea of what to expect.
While there is an official exchange rate between the peso and the dollar, the most accurate representation of the peso's value is what's known as the "blue" rate. It is a parallel exchange that emerged due to strict government restrictions on the amount of foreign currency locals can purchase in an attempt to bolster the country's central bank reserves.
Due to the inflationary nature of the Argentine peso, locals prefer to buy and save in foreign currency like dollars because their pesos lose significant value sitting in the bank.
The restrictions create a large underground demand for foreign currency, since locals have no way to regularly access foreign currency through official channels.
In general, the "blue" rate is almost double the official, meaning your dollars exchanged on this parallel market go twice as far than if you were to use your US credit card. That's a big difference!
Remember this caveat: to access the "blue" rate, you cannot use your US credit card or exchange your dollars at a traditional bank. There are trustworthy, secure places to do this; both our hotels and your Trip Leader can provide support and guidance so you can do so with confidence.