What is a blue dollar in Argentina?

The “Blue Dollar” is the price of the US dollar in the blue/unofficial market in Argentina. This is the cost if buying and selling a physical dollar bill in a “cueva” or on the street. The transaction is done with no involvement of any bank. BUT, don’t be scared, everybody does this and the government knows. Let me explain you why.

How much does a blue dollar cost?

But many tourists don’t realize that the official exchange rate only tells half of the story. A separate, informal (yet very legitimate) exchange rate known as the blue dollar exists. Using the blue dollar, at current rates, one dollar can equal approximately 480 pesos, nearly double the official rate.

What is the Blue market in Argentina?

The Blue Market got its name from the blue strip in the newer one hundred dollar bills. Basically, it consists of money changers on the streets who give better rates for hard currency. In other words, you get more local currency for your dollar than if you change money in a bank or get money from an ATM.

What currency is used in Argentina?

Argentina. The official currency of Argentina is the Argentine Peso ($), however, it's common to use US dollars when travelling in the country. Argentina currently has a significant black market (known as the 'blue' market) for foreign currency, so travelling with and spending US dollars in cash is an absolute must.