Argentina just defaulted on their international loans a couple of weeks back. They defaulted on tens of billions of dollars. This is the second time they’ve done so since 2001. In 2001, the value of a peso essentially hit zero.
This year, they’re still hanging in there somehow. Even so, investors expect the peso to lose 11% of it’s value against the dollar in the next 90 days.
The good news for non-Argentines is that the peso is losing value faster than people can change their prices. Especially ski resorts. Lift ticket prices were fixed in the fall. Yet, the value of the dollar continues to rise against the peso. The blue dollar (black market dollar) is really doing well.
How To Exchange Dollars for Pesos on Black Market:
Right now, the blue dollar (the black market dollar) is currently worth 13.2 pesos. On opening day of the ski season here in Argentina, one dollar was worth 11.7 pesos. That means that since ski season started, the peso has lost 11% of it’s value against the dollar. You’re making money in Argentina, without even knowing it.
The official exchange rate right now is 1 usd = 8.27 argentine pesos. This means that with the blue dollar at 13.2 pesos, you’re making 37% more money for free. Everything in Argentina is 37% off.
Don’t wait. Go to Argentina now. No one is sure how much this blue dollar is going to last.