Argentina Doubles Peso (ARS)/Dollar (USD) Rate for Tourists – Bloomberg

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Argentina’s central bank has allowed credit card companies to give tourists an exchange rate that’s about twice the official one.

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In a bid to boost tourism dollars in Argentina, the government has allowed MasterCard Inc. and Visa Inc. to start offering travelers an exchange rate that nearly doubles their purchasing power.
Visitors to Argentina have historically been able to get much better exchange rates by swapping dollars for pesos on the black market. But paying with cash has become cumbersome because the government’s largest denomination bill of 1,000 pesos is worth about $3. That, coupled with inflation galloping toward 100%, has left tourists using wads of pesos for everyday purchases.


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