Overview
*Note: These figures are from our November 2023 visit. Argentina's exchange rates change rapidly, so verify current rates before your trip.*
A country with a truly bizarre monetary situation. As most people know, the dollar has a black market rate. While the official government rate is 300, you can exchange at 850-900 in many places around the city. Paying by credit card is financially absurd because it processes at 300, meaning you'd pay 3x the price for anything. There's also generally no way to exchange pesos back, so when touring, only exchange as much as you'll spend. You might not be able to get rid of the surplus.
Because of this insane exchange rate situation, the duty-free shop is incredibly expensive. Products are 2-3x their normal price. And Argentinians can't even shop at their own duty-free shops with pesos. It's banned.
Apparently Argentinians have a maximum daily credit card limit of 180 dollars abroad. Total embarrassment.
We got 85,000 pesos for 100 dollars. A 500ml bottle of water costs 1,000 pesos. Their largest bill is 2,000 pesos. We complain about needing bigger bills than our current 200 lira. Their largest bill has the purchasing power of our 20 lira equivalent.
Budget
Some shops and cafes at the airport accept USD. If you pay cash, they calculate at the 300 rate, but if you pay with a foreign credit card, they calculate at 850-950, making everything incredibly cheap. So it's expensive for citizens, cheap for tourists. Despite the official rate being 300, a government-operated airport establishment applies the black market rate. The country's economy has completely fallen apart.