There are many things to do in Buenos Aires and other cities of Argentina if you wish to move there. However, understanding the financial practices of this nation is necessary for an easier transfer. That is why you must know about the Blue Market.
Luckily, you don’t have to look far if you want to learn about dollar blue and the Blue Market in Argentina. Here is everything you need to know about these things to adopt better financial practices.
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The Blue Market Explained
The Blue Market is named so because of the blue strip in the latest bills of hundred dollars. Understanding this market is necessary before learning more about the dollar blue in Argentina. 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. You can get the most of your money by using this option for money exchange in Argentina.
Dollar Blue In Argentina Explained
The dollar blue is the informal name for US bills on the Blue Market. This money is circulated at a higher exchange rate than the Argentinian peso. The latter is the official currency of Argentina.
You should know that the Argentinian peso has fluctuated many times in the past few decades. The weakness of the official currency has also led to the favoring of American dollars in the country. This is why blue dollars are worth more than pesos on the Blue Market.
How Does The Dollar Blue Work?
The dollar blue works like the other American bills in Argentina. You can use it to purchase different goods and services in the country. Another thing you can do is exchanged the blue dollars for Argentinian pesos.
Remember, you will get more pesos if you exchange dollar blues on the Blue Market. Typically, a bank will give you about 800 Argentinian pesos for a hundred dollars. However, you can get up to 1,000 pesos by exchanging a hundred dollars on the Blue Market.
You should also know that Blue Market has not been designed by the government. So your dollar blues may lose value if the international currency rate decreases.
Where Can You Exchange Dollar Blue In Argentina?
Many places in Argentine contain Blue Markets for easier money exchange. You can easily identify the place if you have taken Spanish lessons. Vendors in markets shouting “Cambio” indicate the presence of a Blue Market. The term means money exchange in Argentinian Spanish.
Here are the top places you can exchange your dollar blues in Argentina:
- Casa De Cambio Mundoforex
Mundoforex is one of the top currency exchange offices that offer excellent rates in Buenos Aires. You can benefit from services such as buying international currency at a better rate. Besides that, you can also sell foreign currency at the office.
The best part is that you can also enjoy home delivery by contacting the office. Remember to know the official currency exchange rate at banks before using this Blue Market exchanger. This will allow you to know the minimum amount you must be getting for the exchange.
- Florida Road
Florida Road in Buenos Aires is also a major hub for Blue Market exchanges. The street bustles with different vendors selling clothing, handmade crafts, and other items. People also shout on the street to direct different locals and tourists to the money exchanger.
You should go to the market late in the afternoon because this is the best time for getting the highest rates. So you can easily get more money for your Argentinian pesos or US dollar bills. Be sure to count the money before leaving the vendor to avoid scams.
This is everything you need to know about dollar blue in Argentina. The currency works like all other American bills in the country. You can use it for paying at restaurants, shopping at malls, and other purposes.
Many big businesses also use this currency for various transactions for a better worth. This is because of the weakness in the Argentinian pesos.