The dollar blue is the informal name given to the U.S. dollar bills circulating at a rate of exchange much higher than that of the official Argentine peso. The dollar blue got its start in 2002 as a way to help Argentines skirt currency controls put in place by the government. Today, it’s an important part of the Argentine economy, used by everyone from big businesses to everyday people.
How did the dollar blue get started?
The dollar blue got started in 2002 as a way to help Argentines skirt currency controls put in place by the government. At that time, the Argentine peso was pegged to the U.S. dollar at a rate of 1-to-1. However, due to a variety of factors—including corruption and mismanagement by the government—the Argentina economy began to collapse and the peso began to lose value. In order to protect their savings, Argentines began turning to U.S. dollars as a store of value. This created a demand for dollars, which led to a black market for dollars (known as the “blue market”). The dollar blue got its name from this black market.
Also read: How to exchange your money in Argentina
How does the dollar blue work?
The dollar blue works just like any other U.S. dollar bill. It can be used to buy goods and services in Argentina or exchanged for Argentine pesos at the going rate of exchange (which is typically much higher than the official rate). One thing to keep in mind is that, since the dollar blue is not an official currency, it is not backed by any government or central bank. This means that there is always a risk that it could lose value suddenly if the demand for dollars decreases or if the government takes steps to crack down on its use.
Who uses the dollar blue?
Everyone from big businesses to everyday people use the dollar blue in Argentina. Businesses use it because it allows them to avoid currency controls and get access to capital that they otherwise would not have access to. Everyday people use it because it allows them to preserve their savings in a time of economic turmoil. In fact, many Argentines keep most or all of their savings in dollars rather than pesos because they believe it is a more stable store of value.
The dollar blue is an important part of the Argentine economy, used by everyone from big businesses to everyday people. While it is not an official currency, it has become a popular way to preserve savings and skirt currency controls in Argentina.
Places where you can exchange your Dollars and Euros at Blue rate
Casa de Cambio Mundoforex:
Mundoforex is a currency exchange office that offers good rates and is located in Buenos Aires. They offer services such as buying and selling foreign currency, exchanging Pesos into Dollars, Euros, Reais, and more. They also offer a home delivery service if you order online.
+54 11 4328-7677
Florida 756 – 9993 Buenos Aires, Argentina
IOF – 0,38% max per day
They are an airport exchange office that offers competitive rates and is open 24/7. They buy and sell foreign currency as well as offer other services such as wire transfers and check cashing.
+54 11 4310-0700 / 0810-777-2837 / 0810-222-2837 (toll free)
Ave Rafael Obligado 804 C1086AAF Buenos Aires, Argentina
IOF – 0,38 38% max per day Minimum amount: AR$ 300
Argo Tucuman Cambios:
They are an exchange office located in Tucuman where you can buy and sell U.S dollars at a good rate. They also offer other services such as money transfers and check cashing.
+54 381 431-6060
Hipolito Yrigoyen 470 4000 San Miguel de Tucuman, Tucumán, Argentina
IOF – 0,38 38% max per day No minimum amount
Maximum 5,000.-| ARS 150,000.-* (or its equivalent in another currency)”