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Costs, money and banks
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The Argentine
peso
, divided into one hundred centavos, was exactly equal to one US dollar at the time of writing. Recent political upheaval, however, has led to a major devaluation of the peso and rapidly fluctuating exchange rates. Please keep this in mind when referring to any mention of costs throughout this guide. In Argentina, and throughout this guide, the peso is represented by the "dollar sign" ($). There has been off-and-on talk of
dolarizacion
(adoption of the US dollar as the official currency and legal tender), but political and popular resistance has so far stood in its way. Notes come in 2, 5, 10, 20, 50 and 100 peso denominations while 1 peso and 1 (rare), 5, 10, 25 and 50 centavo coins are in circulation. Sometimes people are loath to give change, as coins are in short supply, so it's a good idea to have plenty of loose change on your person; otherwise insist that they find change, if they want to do business. Ask for small denominations at banks if possible, break bigger ones up at places where they obviously have plenty of change (busy shops, supermarkets or post offices), and withdraw odd amounts from ATMs ($90, $190, etc) to avoid getting your cash dispensed in $100 bills only. In theory you can use
US banknotes
(in pristine condition only, and watch for fakes), but not coins or travellers' cheques, though some places take only Argentine money. ATMs often give you a choice of pesos or dollars and it might be a good idea to keep a stock of both, remembering that Argentine money is difficult to change outside the country, except in Uruguay, or border areas of Bolivia, Brazil and Paraguay, where it may be used as legal tender.
Although very worn or bedraggled notes are sometimes refused, there are no out-of-date notes or coins still floating about as in some other countries. In Tucuman and Catamarca provinces
bonds
(
bonos
) are still issued, and are totally useless anywhere else in the country. Steer clear of them if you can, but be aware that their face value is taken as the same in pesos within the two provinces. Counterfeit notes come into circulation from time to time, as in most countries, and many businesses are equipped with authentication devices for checking all paper money. Other useful information
for tourists (each section contains more specific sub-sections): |
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Argentina |