Get Everything Half Price When Traveling in Argentina!
It is no secret that the economy in Argentina is not going so well at the moment. For the tourists going to Argentina this is good news as everything gets cheaper, but locals are loosing their money from inflation and jobs from poor company turnover. Some people make protests in the street and are not happy with the foreigners exploiting the situation even more by the three steps I am about to tell you, and maybe you will understand after some background information.
Ever since the Argentinean Peso started to drop significantly in 2012, people started to change their whole savings into other currencies to secure themselves against their money becoming worthless. The government was then quick to put a ban on the US dollars and other currencies, and as a result the Argentineans could not withdraw foreign currency or change their currency, even when going abroad. And just like all other illegal things it became available in the underground at much more expensive prices. The profits were big as well, which probably is the reason why you will find (probably) hundreds of people in Florida Street and LaValle Avenue shouting “Cambio”, “Dollars, “Euros” etc in hopes of buying some dollars of you that they can sell to the Argentineans afterwards.
Therefore; when travelling to Argentina bring as many dollars as you can get as you can sell them to as much as 10-12 pesos when they at the official market rate are only worth around 7-8 Argentinean Pesos. Even restaurants and hotels will sometimes accept dollars at the “blue market rate”, which would save you/ give you around 30% extra on everything you buy! If you cannot get dollars at home you can just take a ferry over to Colonia in Uruguay, which costs around 60 US dollars round trip (market rate) where you can withdraw as many dollars as you want from all ATMs. When exchanging on the street you have to be careful to get real notes (not fake ones) be descrete and jump into a taxi once you have done the exchange. How much people offer you for your dollars also depends a littlebit on the amount and shape of your dollars (crisp hundreds are the best), but this link will show you daily updated rates of the dollar on the blue market.
Once you have the money changed you should go crazy when shopping as Buenos Aires is the perfect city with good selection of stores and cheap prices. Argentina, unlike most other South American countries is not a place where bartering is common. But, the economy is not going too well and the shops are very eager to get you to buy from them, so there is some leeway, namely asking for a cash discount, which many places is around 10% which can save you some money if you are shopping a lot. And hey, you already have all your money in cash from exchanging money from dollars, so why not ask for it?
On top of that, all tourists have a bonus when shopping abroad. Namely that they are not obliged to pay tax on the things they buy as long as they are leaving the country for good within three months of the purchase. When shopping we asked for tax free/ tax refund forms so that we could get 17% of everything we bought refunded upon departure from Argentina. We got refunded our tax both at the harbour when leaving to Uruguay and at the border post when leaving to Brazil and if you are planning on flying you can also go to the tax office at the airport to get it refunded there as well.
So if you if you are planning on going on a shopping holiday soon, make it Buenos Aires in Argentina- the Paris of South America, as you will not find as good selection for as cheap anywhere else than here at the moment.