Argentina 'blue dollar' question

  • Posted by a hidden member.
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    Mar 19, 2014 10:24 PM GMT
    Hi y'all

    Those familiar with Argentina probably know about the black market ('blue dollar') exchange rate. I'll be traveling alone and staying in hostels so I have some concerns. I have two major options.

    A) Carry my ~$4,000 USD with me and keep it locked away in my hostel dorm (I have a strong padlock) and use private exchangers that a friend will put me in touch with on an as needed basis. I would only take the needed amount of USD out of the hostel with me when I would go to exchange. Rates change rapidly so I would probably only exchange 1-2 wks worth of USD at a time.

    B) Use Xoom, an American banking company, that offers an exchange rate of about a peso less than the black market rate. The downside is, there's a ~$8 fee for each transaction, and I would have to go downtown Buenos Aires to pick up my money, whereas I could do USD exhanges in person near Palermo, which is where I will be staying.

    I am conflcited because of the extra charges associated with Xoom and I would have to travel carrying a relatively large amount of USD to the money center and pesos away from it on public transportation (or a taxi I guess) anyway.

    The only risk I can associate with carrying all my USD is if someone somehow robs me. I didn't have anything stolen from me in any of the hostels I stayed at in Mexico, and I kept my things locked up.

    In Argentina, I will be diligent to only handle my cash (USD) when I am alone in the room. But if I were to lose all of my money, I would be devastated and SOL. Each option has its pro's and con's. I want to do option A, but I need help deciding if the rewards outweigh the risks.
  • Apparition

    Posts: 3534

    Mar 20, 2014 6:39 AM GMT
    travellers cheques?
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    Mar 20, 2014 6:54 AM GMT
    Apparition saidtravellers cheques?


    I honestly have no idea really how traveler's checks work but upon googling, they are apparently a pain in Buenos Aires due to poor exchange rates and extraneous fees, as well as difficulty getting them cashed.
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    Mar 20, 2014 11:16 AM GMT
    credit card....let them do the exchange rate
  • Posted by a hidden member.
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    Mar 20, 2014 6:54 PM GMT
    Sporty_G saidcredit card....let them do the exchange rate


    I don't mean to sound rude, but if you're suggesting me to use a credit card, you don't have any idea what the "blue dollar" rate is and why it's so important.
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    Mar 20, 2014 7:28 PM GMT
    A

    Hostel dorms are safer than private rooms for security, because thieves can't work undisturbed.

    If you haven't chosen a hostel yet, Circus is great and in a fun area. Make sure you go to Club Amerika!
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    Mar 20, 2014 11:54 PM GMT
    Ohno saidA

    Hostel dorms are safer than private rooms for security, because thieves can't work undisturbed.

    If you haven't chosen a hostel yet, Circus is great and in a fun area. Make sure you go to Club Amerika!


    Thanks for the suggestion! I have planned on staying at Eco Pampa Hostel in Palermo Soho, which is also where my language school is located. Circus is in San Telmo and I'd prefer to be within walking distance of my school. If things don't work out at Eco Pampa, I will consider it.

    And definitely will check out Club Amerika!