With changes and new measures to inhibit the Argentine government's parallel exchange rate, tourists have flexibility in currencies such as the traveler's dollar, which can now be exchanged for the so-called “blue dollars” – this “dollar” is a type of exchange rate, quote, which is most comparable to the then parallel market, and which is equivalent to the official value, in short, the parallel exchange market in Argentina was until then very advantageous for tourists from that country, given the low quote in the conversion currency, which consequently left more national money for tourists.
- Most advantageous quote
- More money to spend
- Ease of exchange
At the beginning of this month of July, the dollar in its parallel quotation in Argentina, priced that 1 dollar was equivalent to 336 pesos, already at the official exchange rate, 130 pesos (almost 200% difference in the exchange rate). With this new measure, the attempt is to make the exchange rate equivalent, therefore, the “blue dollar” has a limit for tourists of US$5,000 dollars.
The main Argentine newspaper, Clarín, announced that the exchange rate will be the same as the financial market (MEP), a kind of stock exchange for the dollar. Visitors to the country will be able to exchange currency at exchange offices authorized by the Central Bank, simply by presenting a passport and/or document of legal entry into the country.
Western Union
Western Union remittance has also presented advantages, also after the changes, recently, the company released the payment of Argentine exchange via Pix, which has definitely won over Brazilians who are visiting Argentina. The exchange rate conversion by the multinational has proven to be quite advantageous: each real is equivalent to 56 pesos.
Western Union is a global company that provides financial services, created in 1951 in New York, known mainly in countries with many immigrants, as it receives and/or sends financial remittances abroad.
In Brazil, Western Union still has a discreet presence, as it is considered a country with a low number of immigrants, very different from the USA and Mexico.
Ricardo Amaral, president of Western Union in Brazil, told us that the multinational's presence in Argentina is very strong.
It has at least 5,000 service establishments spread throughout Argentina, whether for local currency exchange, money transfers, or bill payments.
Increase in tourism
With this new strategy of the Argentine government, there will be a strong tendency to stop the outflow of dollars from the country, consequently, containing the devaluation of the peso.
- Best exchange rate + tourists
- Encouragement of tourism
- Opening of borders
Tourism in Argentina has been the counterbalance to the country's economy, which has been going through a long financial crisis, showing significant growth. According to tourism agencies, visitors spent around US$1.4 billion in the country.
A large portion of this group are Brazilians, who, with the reopening of borders after the pandemic in 2021, have been choosing to travel to Argentina frequently. With the new measure that allows the purchase of dollars on the black market, which puts more local money in tourists' pockets, an increase in tourist visits to our country is expected.
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