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.

Why is there a black market in Argentina?

This created a black market for the illegal trade of pesos for dollars. The market is so open and so commonly used that people have started referring to it as a “blue market”. There are two exchange rates for dollars in Argentina the official rate and the much higher blue market rate. What does this mean for travelers?

What is the blue dollar in Argentina?

The blue dollar is the informal name given to the U.S. dollar bills you can find on the blue market. It circulates at a rate of exchange much higher than that of the official Argentinian currency, the Argentinian peso.

How does the Blue market work?

Typically, the market consists of money exchangers on the streets who will give you a better rate for your hard currency. This means that you can get more money for your local currency by exchanging it with a person on the Blue Market than by exchanging it at a bank.