16.06.2023
About money in Argentina
The money thing here is pretty funny, watch my hands.
Argentina's national currency is the peso, exchange rate to the dollar is 245. That's today's rate. Inflation is horrifying, in a week the rate can jump by like 10 percent. Realistically nobody is going to change dollars at that rate, because the black market rate is 487, almost twice as much. The black market isn't all that black: on the main streets there are Cambio exchange booths that'll change your money at a good rate. Foreign cards get a rate that's way better than the white one, but a bit worse than the black one. And on top of that they first charge you at the bad official rate, and a couple weeks later the difference comes back. In shops you can ask for a cash discount. It's worth it for the sellers — they won't pay the big tax, so they can easily knock off 20%. You have to talk about everything: price tags often aren't even there, again because of inflation. In hotels it's the opposite — for cash or local cards they'll tack on an extra 21% tax. But you can pay with a foreign one — then you're basically a tourist with no tax. The biggest bill is 1000 pesos. And an exchange or an ATM might hand you the money in hundreds! So even 100$ is this impressive wad of cash, it constantly feels like you're spending really big sums on something (you're not, really). Crypto is thriving. And Western Union — it changes at a good rate. There are always huge lines at the latter and it can easily run out of cash.
How do you live with all this? You change money little by little, you work out the balance equation «will there be a cash discount, will it be tax-free with a card, is there time to cash out tomorrow», and you feel like a drug lord with fat stacks of cash.
What surprises me the most?