The currency used in Argentina is the peso ($). Paper money is available in values of 2,5,10,20,50 and 100 pesos. One peso equals 100 centavos and coins are available in values of 1,5,10,25 and 50 centavos and one peso.
Money in Argentina
The economy in Argentina is fragile and Argentina has faced considerable problems in the past in respect to money and inflation.
Until recently Argentina was an extremely expensive country for foreigners to visit and individuals living in Argentina even saw countries such as Europe and the US as inexpensive holiday destinations. The money situation in Argentina has stabilised however in recent times and the devaluation of the currency by the government has seen the peso fall to about half the value of the US dollar.
However, although travellers will now see their money go further in Argentina, this could all change if inflation is not effectively controlled. At the time of writing therefore, Argentina is a fairly attractive holiday destination in respect to the accessible prices and the currency rate.
The following suggestions may help to ensure you protect the value of your money whilst in Argentina in the event that the economic market changes for the worst whilst there:
- Bring your own local currency / money and only change it into pesos as needed;
- Use an official cambio to change your currency where possible as you are likely to get better exchange rates;
- Although it is not official currency, US Dollars are commonly accepted in Argentina and it may be worth carrying a portion of dollars with you to supplement your peso funds in the event that you are delayed changing your money at a cambio. You should note however, that some institutions (e.g. bus companies) refuse to accept US currency;
- Be careful however, not to run out of pesos if you are not staying in the major cities;
- Always ensure that you keep your money in pristine conditions as it is not unusual for tatty money â€“ or money which has been defaced / written on, to be refused in Argentina;
- You should also be careful to check any money when it is handed to you as change as counterfeiting has been a problem in Argentina in recent years. Therefore, ensure that you check your money for the watermark, centre thread and micro-printing.
Non Monetary Means
There are an abundance of ATM machines in Argentina, so this is an obvious way of supplying yourself with money whilst in the country. However, it is likely that your bank will make a charge for using this facility so ensure that you know in advance what the charge will be.
Credit cards are widely accepted in Argentina with Visa and Mastercard being the most commonly used. However, please note that it may be less acceptable to use credit cards outside of the major cities and provincial capitals. Therefore, ensure that you have an alternative form of money if you are travelling outside of these areas.
You may find that a high surcharge is incurred when using your credit cards, so ensure that you check the surcharge prior to pursuing the transaction.
Keep an eye on your credit card prior to it being returned to you for signature and ensure that you are comfortable that an undue period of time has not passed prior to it being handed back to you.
As with credit cards, you may find it difficult to change travellers cheques at the weekends or in small towns. If you do take travellers cheques with you to Argentina, then it is advisable to ensure that you also have other means of accessing money in the event that you are unable to change them.
Want to find out how much the Argenitian currency is worth in relation to your own currency? Use this currency converter tool for free!