Industry News
I just arrived in Argentina on Sunday and the first thing I noticed were the prices…
Last year – the 4th year of the Blue Dollar – I was a rich man. I was getting 63% more money for free on EVERYTHING in Argentina. It was glorious… Truly glorious…
I was dining out 4 nights a week, hitting the breweries, grabbing apres ski beers, drinking fine wines, and eating lots of chocolate. Lots and lots of chocolate…
That all come to a screeching halt this year.
Official USD (blue) and black market USD (orange) from January 2011 to January 2016
For the past 4 years, former President Christina Kircher had imposed financial controls that included the prohibition of exchanging Argentine Pesos for US Dollars. For the past 4 years, 1 USD = about 8-9 Argentina Pesos, but the black market dollar or Blue Dollar was worth about 13-15 pesos. You were getting up to 63% free money when you exchanged on the black market (which was super normal and safe, by the way).
This past fall, the new President, Macri, assumed office and ditched those financial controls and thus the Blue Dollar immediately. Now, 1 USD = 15 Argentine Pesos on the official market and there is no more Blue Dollar.
The prices of everything have gone up since this change. Many food items are nearly double the price they were a year ago.
Ski lift tickets have also gone up from around $50/day to around $60/day in Argentina.
Things are still a cheaper than the USA, but they’re a helluva lot more expensive than they were the last 4 years. The last 4 years were the good times! If you were here, you lived in glory. If you weren’t, you’ll get real sick of the gringos telling you about it.
Don’t let this hold you back from coming down to Argentina. In reality, the Blue Dollar was a sneaky, cheaty thing we got away with for 4 good years. Now, things are balancing out and most likely for the good of Argentina. It’s still very affordable and cheap for people from the USA and Europe. But man… that Blue Dollar was fun!
Viva Argentina!
We were in Chile on Friday and I changed US$ for Argentine pesos and got 17 to one before coming to Ushuaia to ski on Monday.
Just had a steak and potatoes the size of my head for $20 US. $10 extra for a 2012 bottle of Malbec. And it’s snowing!⛷❄️
Hey John, 17 to 1? Whoa… Official rate is 14.78 peso to 1 usd right now. You’re killing it! thanks for the info. Enjoy Ushuaia. What a gorgeous place.
In which bank in Chile or cambio office you were able to get this rate of exchange? How safe is such an exchange in Chile. Any advice where to exchange US dollars to chilean pesos. Can you
pay in US dollars for the taxi from the airport in Santiago to downtown?
Thank you
Jack
Hey Jack, Thanks for the message. That is the official exchange rate at the time of the writing of this article. I always pull Chilean pesos from local ATM’s. There is an ATM in the airport. There is also a currency exchange kiosk in the airport. I’m not sure if you can pay in US dollars for a taxi, but you can certainly ask. Also ask what exchange rate the taxi driver will give you. In general, Taxi drivers’ exchange rates are poor.
You will always get a better rate outside of an airport.
Chilean banks are perfectly safe.
In my 15 years of going down there I have never been scammed in Chile. Argentina is a different story. So of my buddies have been cheated in the blackmarket exchange days.
I never take a taxi from the airport as we always rent a 4×4 when we arrive.
Have fun