I’ve had to opportunity to visit beautiful Buenos Aires, Argentina on two separate occasions this year and I’ve written two full trip reports about it here and here. Argentina’s current economic situation is in turmoil and that means great news for the American tourist. Argentina is one of two countries in South America that has two different exchange rates with one being the official rate and the other being the black market (unofficial) rate. Earlier this year, I’ve written about How to Find Black Market Currency Exchange Rates in Argentina.
As of today, October 1, 2014, the official exchange rate is 8.4:1 (1 US Dollar = 8.4 Argentinian pesos)
Today’s black market rate is 15.65:1 (1 US Dollar = 15.65 Argentinian pesos)
Argentina has condemned the black market and made it illegal, but it still exists and fairly easy to find. Earlier this year, I’ve written Where to Physically Locate Black Market “Cuevas” in Argentina.
How can you use this to your advantage?
For example: A room at the Sheraton Buenos Aires Hotel & Convention Center costs $107 taxes included.
The key point when booking hotels is to book a non-prepaid rate because you’ll need to pay in cash during checkout. One strategy I use is to file a Starwood Best Rate Guarantee, thus making the reservation refundable.
At check out, the bill will be 904.21 Argentinian pesos ~( $107 USD) where I will pay in cash with the amazing 15:65:1 exchange rate that I got. This effectively made my stay $57.78 USD taxes included and receiving 2,000 Starpoints as a BRG reward to boot!
As you can see, you can effectively get a 46% discount on hotel accommodations, food, and entertainment when you pay by cash. This is a great time to visit Argentina before their economy recovers (if it ever does).
Will you be taking a trip to Argentina any time soon?