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Hotel in Buenos Aires

ssbeagle

By ssbeagle,
in South America

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ssbeagle

ssbeagle

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This will be my 1st trip to BA but as I understand it the government appears to be the winner by giving 5 pesos per $1 while it's being exchanged at 8 pesos per $1 in the real world. Thus tourists getting 5p/$1 in reality are losing about 40%...is that correct 'pmacher61'??? Thanks for your help to understand how things work currently & with a 30% inflationary rate wonder what it'll be when we arrive in February...if only I had an accurate 'crystal ball'! :eek:

 

It almost makes you want to think twice about going there. But since we've never been it will be an adventure.

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Astro Flyer

Astro Flyer

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It almost makes you want to think twice about going there. But since we've never been it will be an adventure.

We're on the same cruise with you & having never been to South America the currency discrepancy in Argentina makes planning more challenging. I'm not used to such a situation & will bring crisp new bills to probably pay for more things in dollars instead of like in Europe where we get local currency from an ATM or use a credit card.

 

We're only staying 2 nights in BA so while the difference in dollars spent varies depending upon the 40% swing in exchange rate we'll enjoy BA as much as possible. :)

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ssbeagle

ssbeagle

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We're on the same cruise with you & having never been to South America the currency discrepancy in Argentina makes planning more challenging. I'm not used to such a situation & will bring crisp new bills to probably pay for more things in dollars instead of like in Europe where we get local currency from an ATM or use a credit card.

 

We're only staying 2 nights in BA so while the difference in dollars spent varies depending upon the 40% swing in exchange rate we'll enjoy BA as much as possible. :)

 

Where are you staying?

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Astro Flyer

Astro Flyer

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Where are you staying?

Another CC member recommended the hotel they recently enjoyed staying at...Savoy Hotel. TripAdvisor reviews rank it better than the hotels Princess uses.

Welcome to the wacky world of Argentina.

You really ought to explore http://www.xoom.com

We'll have to watch to see how the WWoA pans out in the next 10 months. :eek:

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pmacher61

pmacher61

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We'll have to watch to see how the WWoA pans out in the next 10 months. :eek:

More like a couple of weeks because that is when the Second Circuit Ct of Appeals will rule in the pending bondholder litigation. To get some insight you can read http://www.shearman.com/files/Publication/2a8293eb-d203-4735-9b6e-06b3cd219d70/Presentation/PublicationAttachment/79dd836f-39e2-4749-b317-11c78c4e1684/Don%E2%80%99t-Cry-for-Me-Argentine-Bondholders--Argentina-Responds-to-the-Second-Circuit%E2%80%99s-Inquiry.pdf

I expect the peso to fall to 10 or more before the end of May.

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pmacher61

pmacher61

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I went on the xoom.com and it does not call for sending foreign currency to the USA. How can I purchase Pesos and have them delivered to my home in the USA?

You can't, but you can send USD to Buenos Aires and pick up Argentine pesos there (at various financial institutions dotted throughout the city) at a rate of exchange much closer to the blue rate than the legal rate (today 7.91 not including fees).

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pmacher61

pmacher61

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No actually the price was about 30.00 .

I assume you are quoting the price in USD that you paid for a car or taxi that was sent by the hotel to pick you up at EZE, the international airport (not the local downtown airport, Jorge Newberry) and then transport you to the Sheraton hotel in the Retiro. I assume it was for the price of the car, not the pp price.

 

I am in no position to dispute you but I must say that I have never heard of such an attractively priced option from EZE to the Sheraton. I assume it was a charge that was added to your hotel bill, not a tariff you paid the driver (unlikely the driver would accept 30 USD) BUT if that was the price you paid and my assumptions above stated are true, I would love to get more details as it is a fabulous deal especially if it was an upscale vehicle and even more so if you didn't have to wait long for the car to arrive after calling the hotel. Can you fill me in how you got that deal?

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pmacher61

pmacher61

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No actually the price was about 30.00 .

Am I right to assume that this was the fare you paid from the downtown airport after your return from Iguazu? The regular taxi fare from that airport to the Sheraton is about 40 pesos or US$5 blue (US$8 official) even as of Jan 1.

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pmacher61

pmacher61

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We purchased the pp taxi at international airport terminal.. We checked both kiosk to do price comparison. I could be wrong on the price. But we were happy with the service.

Sorry, I read your original post

We stayed at the Sheraton park tower, it is very close to port. And service is good. We felt safe, as only approved taxis are allowed to pick up there. We arranged taxi to hotel while still in the airport, again this assures that you are traveling with appropriate taxi drivers.

to mean that you had the hotel send you a car. Yes, the cabs from EZE booths to the Sheraton would run about 240 pesos or US$30, but I am surprised you were able to pay in USD at an airport taxi booth and, if so, were able to get a blue rate.

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  • 2 weeks later...
pmacher61

pmacher61

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The official rate is currently showing about 5.2 pesos/$1.

The official buy rate is 5.15 and you would get less if you used an ATM because of the Argentine banking systems' fee, i.e., Link/Banelco, ATM fees ($3+ per withdrawl) and even less if you used a credit/debit card that carried foreign currency transaction fees (up to 3%).

The "real market" blue rate closed at 9.88 on May 3 dropping from the 9.95 it reached earlier in the day. http://www.ambito.com/economia/mercados/monedas/dolar/

The official rate should have no relevance to savvy tourists who bring cash. Read above.

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pmacher61

pmacher61

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Have you tried contacting the hotel directly to see if you can reserve a room and at what price ? If at less than 720 pesos per night , you would do well to make the reservation directly and pay when you arrive in pesos obtained at the blue rate.

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pmacher61

pmacher61

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I have not contacted the Hotel but could most likely go to their website and book. I just wanted to add that those who are apprehensive of paying with Pesos could pay ahead on hotels.com with dollars. We are still not sure which Hotel we will book as the bigger ones are expensive and reviews of the Sheraton are not the best.

 

Thanks for you input!:rolleyes: especially on the blue rate!

You seem to have missed the point. Today the USD closed at 10.4 pesos. That means the $400 night room at the Four Seasons is actually yours for under $200...assuming the peso doesn't strengthen against the USD (a pretty sure bet). Make the reservation. When you arrive get pesos at the blue rate. Pay the hotel with those pesos and have them recredit your credit card.

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  • 1 month later...
LadyDivot

LadyDivot

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PMacher - happened upon this thread and find your info most interesting. Thanks very much for sharing it. We'll be in BA at the end of Jan 2014 for a couple of nights and then one night when we get back post-cruise. We'll have to check what are the official rate and blue rate as we closer, but it certainly provides us options. I guess we can come back to this forum as our trip gets closer to find out the going rate for the blue, the official rate I can find in a bunch of places. I'm partial to xe.com myself.

 

I'll keep an eye on this thread to see what others are finding.

 

Thanks again...Pam

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pmacher61

pmacher61

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Lady D,

2014 is a long way off in terms of the US$-AR peso exchange rate calculus. xe.com will only give you the official rate of exchange, not the blue market rate. Try ambito.com.

 

As a result of pressure from the AR government (by way of threats from Sec of Commerce Moreno to close down the cuevas together with the ongoing sale of many dollars by AR) the money changers have dropped the rate to 8.5, however, many are finding it hard to buy US$ at that price - they can only sell.

 

When the government exhausts its available supply of dollars set aside for the purpose of holding down the dollar price, the threats from Moreno will not suffice to overcome market forces. Throw in the anticipated decision from the American Ct in the bondholders' case and one could reasonably predict 11/12 pesos to 1 US$ in early 2014.

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LadyDivot

LadyDivot

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Well, that does work in our favor. I was talking to DH about your posts and he asked what's in it for the cuevas if they are buying dollars at ~10 pesos and the going rate to sell is ~5 pesos. The other thing we were discussing was it's interesting the cuevas allowed to continue if they are undercutting the government. As it turns out, your post indicates the cuevas may be out of business for a short time. You are right though, the economy hates a vacuum and the free market will find a way.

 

I'll keep in touch with this thread as we get closer.

 

Thanks...Lady D

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LadyDivot

LadyDivot

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BTW, PMacher, since you are in the know, I may have to hit you up for your recommendations on authentic, local parillas and where do the locals buy leather. :D I'm already a huge fan of Tinchos, which I'm planning to continue to enjoy as we get closer.

 

Mil gracias por su ayuda.

 

Pam

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