How to Get the Best Exchange Rate in Argentina

Managing your money in Argentina can feel like navigating a maze — one lined with constantly changing exchange rates, creative workarounds, and a parallel economy. But don’t worry: with the right tools and awareness, you can keep your finances flowing smoothly and legally.

This guide will help you understand the basics of currency in Argentina, what exchange rates mean for your wallet, and why sending money to yourself with Western Union is often the smartest option for expats and travelers.

💱 Currency Basics: What You Need to Know

The official currency is the Argentine peso (ARS), but you’ll quickly notice that many locals think in U.S. dollars. This is because Argentina operates with two (or more) exchange rates at the same time.

The Two Main Rates

• Official rate – set by the government; lower value, used by banks and ATMs

• Blue rate – the informal (parallel) market rate; higher value, closer to the real economy

Example:

• Official: 1 USD = 950 ARS

• Blue: 1 USD = 1,300 ARS
  (rates change frequently — always check the spread)

👉 The difference is huge: exchanging at the blue rate can give you 30–40% more pesos for every dollar.

🔄 How to Exchange Money Safely

You have several options:

• Cash in USD: Bring physical dollars and exchange at cuevas (informal exchange houses). Riskier if you don’t know the city.

• Western Union: Send yourself money and pick up pesos at a rate close to the blue. Safe, legal, and widespread.

• Crypto platforms: Trade stablecoins (like USDT or USDC) for pesos, often at the blue rate. Growing in popularity, but requires some tech know-how.

• Wise/Remitly: Convenient, but usually pay at the official or “MEP” rate (somewhere in between).

⚠️ Tip: Avoid exchanging on the street with arbolitos (informal money changers). It’s not recommended for newcomers.

✅ Best option for most expats: Western Union to yourself — legal, fast, and typically the best rate.

🪙 Using Cryptocurrency in Argentina

Argentina has one of the highest crypto adoption rates in Latin America. Years of inflation, currency controls, and shifting regulations have pushed many locals to explore digital dollars like USDT (Tether), USDC, or DAI as a way to protect their savings. For expats, crypto can also be a practical way to move money into the country — but it comes with a learning curve.

How It Works

1. Buy stablecoins abroad

   • Purchase USDT, USDC, or another dollar-pegged stablecoin on an exchange like Coinbase, Binance, or Kraken.

   • Transfer the tokens to your personal crypto wallet (e.g., MetaMask or Trust Wallet).

2. Exchange for pesos locally

   • In Argentina, people commonly trade stablecoins peer-to-peer (P2P).

   • Popular platforms include Binance P2P, Lemon Cash, and Buenbit.

   • You post an offer (or accept someone else’s) to sell your stablecoins in exchange for ARS, which is then deposited into your local Argentine bank account or paid in cash.

3. Spend or withdraw

   • If you have an Argentine bank account, you can receive the pesos directly.

   • If you don’t, you’ll need to meet a trusted trader in person or use a P2P escrow platform that handles the risk.

Pros

• Blue-rate equivalent: Like Western Union, P2P crypto trades usually happen near the blue dollar rate.

• 24/7 and borderless: You can move money in and out anytime, without relying on bank hours.

• Hedge against inflation: Holding funds in stablecoins can shield your savings from peso devaluation.

Cons

• Learning curve: You need to be comfortable with wallets, private keys, and P2P trading.

• Scam risk: Without trusted intermediaries, meeting strangers for cash can be risky.

• Regulation is fuzzy: While crypto isn’t illegal, Argentina’s rules shift often.

📌 Bottom line: Crypto is powerful if you’re already in the ecosystem, but for most newcomers, Western Union remains simpler and safer.

How Western Union to Yourself Works

It might sound strange at first, but here’s the step-by-step:

1. Set up the transfer
   Log into the Western Union app or website. Choose cash pickup in Argentina. Instead of sending money to a friend, you send it to yourself — entering your own name as it appears on your passport.

2. Fund the transfer
   Pay with your U.S. bank account, debit card, or credit card.

3. Pick up pesos locally
   Within minutes or hours, go to a Western Union office or partner location, show your ID and tracking number (MTCN), and receive pesos in cash.

Real Example: Sending $1,000

That’s a 35% boost in your purchasing power. Enough to cover several weeks of expenses, multiple internal flights, or months of steak dinners.

Practical Tips

• ID must match exactly: the name you enter online must be identical to your passport or DNI.

• Split large transfers: WU has limits (around $2,500 per transfer/day). For bigger sums, divide into multiple transactions.

• Check daily rates: they update every day and usually track near the blue dollar.

• Pick safe locations: use branches in secure areas and avoid walking with large amounts of cash.

Final Thoughts

Bank ATMs in Argentina will drain your dollars at the official rate, and while informal cuevas can work, they require local knowledge and trust. Western Union to yourself hits the sweet spot:

• It’s legal.

• It’s easy.

• It gives you pesos at a rate close to the real market.

Crypto, on the other hand, is Argentina’s digital workaround: excellent for those already familiar with the ecosystem, but intimidating for beginners.

For expats and travelers, Western Union remains the most straightforward way to manage money in Argentina — turning the country’s confusing exchange maze into a clear path forward.

The content on this page is for informational and educational purposes. Always consult with a qualified professional before making any financial decisions.

Explore more posts in our Financial & Taxes category