Newcomer Money Bulk how much space does it take up?

[Bharat]

I understand that the largest denomination bill in Argentina is the 2000 peso bill, which is currently worth about USD $2.11 blue rate. I will be in a situation in which I will need to convert some money in Buenos Aires on a Saturday and then fly out to an area that may not have cash on Sunday, so I will need to get a large amount of cash on Saturday in BA. I am trying to get an understanding of how big the mass of certain amounts of 2000 peso bills will be, so I can figure out how to transport it. Will I need a wheelbarrow to carry money around?



How big would USD $100 (ARS 94500) be?


How big would USD $500 (ARS 472500) be?


How big would USD $1000 (ARS 945000) be?


How big would USD $1500 (ARS 1417500) be? The size of a shoe box?


-Any recommendations on how much to get and how to carry it around?


-Can I pay for things like hotels and rental cars upfront so that I can get the money out of my possession?

 

[Canada Goose]

Just keep in mind the 2,000 bill is very rare here. Not many people use them nor can you get them at the money exchange house. The 1,000 peso is more common so if you were expecting to get 2,000 pesos you may plan to double your space!

Why do you feel like you have to exchange so much? Just carry around $100 US dollar bills. Make sure they are new and the bigger head brand new bills and no marks on them. ANYWHERE will exchange US dollars plus you run the risk of sudden devaluation so do NOT exchange so many pesos ahead of time. It doesn't make sense to exchange too much ahead of time with the devaluation risk. I exchanged too much when I got here and the rate went up.

I learned after that to just exchange as I needed. Everyone loves US dollars as they can't easily get them but now with Milei as president, it should be easier than before.

Just imagine 1000 peso notes in a stack of one-dollar US bills and you will get an idea how big a man purse you will need. I think the peso bills are a tiny bit smaller than US dollar bills.

 

[Che Vos]

Here is a website link providing information about various banknotes in Argentina, including their denominations: BCRA - Nueva Familia de Billetes. Pay attention to the denominations, and pay attention to discussions about the 2,000 peso note. Even in the website I don't think they list it. They aren't so commonly used so imagine carrying around a bunch of $1 US bills.

When exploring or searching for similar posts about handling money, be cautious not to exchange excessive amounts. There seems to be a mention of a daily conversion limit, so it's essential to research and understand this aspect.

Consider reading about using credit cards as well. When dealing with currency, avoid being solely focused on the monetary value; instead, consider the real-world purchasing power. People often get fixated on saving money during trips, so keep things in perspective.

Personal experience with Western Union resulted in receiving various notes, including 2,000, 1000, 500, and 100 denominations, bundled in 100 each. Visualizing the size of a bundle can be done by comparing it to local currency or counting notes you have on hand.

Determining how much currency to carry depends on your preferences and plans. Utilize credit cards whenever possible and supplement with cash. Research the cost of living in your destination and use currency conversion sites like Expatistan and XE to estimate expenses.

If your accommodation offers a free breakfast, take advantage of it to reduce meal expenses. Consider allocating funds for internal transportation, lodging, attractions, food, and souvenirs. Estimate daily expenses for meals and factor in any additional costs for attractions or transportation.

While your plans are not explicitly mentioned, creating estimates for a few days and ensuring you have enough currency before running out can provide a financial safety net during your trip.

 

[Bharat]

Thank you Canada Goose and Che Vos. Your input is also appreciated. The plan is well-detailed, and expenses have been carefully accounted for. You mentioned packs and bundles; when dealing with money exchange houses. Do they dispense money in specific increments or bundles?

It seems I'll need a substantial money belt and perhaps tuck some funds into my sock. Unfortunately, there's a local flight involved, and I'll be crossing into Chile and back with all the cash. Considering the apparent discrepancy in exchange rates, I'm leaning toward avoiding credit card usage. It does feel a bit unusual to settle significant bills like hotels and rental cars with essentially USD $1 bills, but I understand it's the reality. Thanks once again.

 

[Canada Goose]

I also suggest using a credit card. The exchange rates are currently fluctuating, and there have been instances where the MEP rate (https://www.ambito.com/contenidos/dolar.html) surpassed the cash blue dollar rate. Therefore, it's advisable to monitor the values daily, and I personally use an app called "Dolar Blue Hoy" for this purpose. Plan your currency exchanges accordingly.

Changing a large sum of dollars upon arrival might not be wise, as the rates can experience sudden shifts overnight. It's safer to exchange smaller amounts, perhaps a few hundred dollars at a time. In every town, you'll likely find individuals interested in obtaining dollars.

 

[Finance Prof]

It is absolutely not true that it is necessary to avoid credit cards. You must consider there are risks to carrying around so much cash. Or you could be followed or watched from exchange houses. I haven't seen issues but I spoke to the owner of this website who told me his friends after never having issues are getting robbed now.

It's not accurate to claim that using credit cards should be completely avoided. In many cases I would recommend it like paying for hotel stays.

On November 22nd, I received 920 pesos (1 Euro) with a Visa card, and on November 23rd, I obtained 940 pesos (1 Euro) with a Mastercard. While navigating Buenos Aires exchange houses, I managed to get 1050 pesos for 1 Euro.

The differences don't seem significant, and now that I'm in Bariloche, I can effortlessly make purchases in shops, restaurants, and markets using Euros or Dollars, receiving pesos as change. For instance, yesterday, a remarkable steak that would cost a hundred euros in Italy amounted to 9,000 pesos. We spent a total of 22,000 pesos for a dinner for two. In the grand scheme of things, is it truly crucial to save 1 or 2 dollars or euros and carry bundles of pesos?

The best advice I can give is to keep things in perspective. It is NOT needed to carry around large amounts of pesos. Everyone wants dollars so just travel around with dollars. Exchanging a large amount at the beginning of your trip is NOT a good idea.

 

[All the Answers]

Opting for pesos is particularly advantageous when making purchases at non-food stores like clothing shops. Many merchants offer better prices when transactions are made in pesos, often advertising a discount, such as -20% Effectivo (20% off for cash payments), displayed on their windows. Store clerks may inform you about this discount while you browse or during the payment process—feel free to inquire!

Interestingly, some locals, including our relatives, have never come across 2,000 peso bills. Typically, you'll encounter 1,000p bills at exchange houses, and in Palermo, where we're situated, there are three within walking distance on Sante Fe Ave.

The advice to refrain from exchanging all your money upon arrival stems from the constant strengthening of the dollar. During our month-long stay, the exchange rate fluctuated between 820 pesos to $1US and the 1,000 pesos to $1 US we received last Friday. While this variability is beneficial for tourists, it poses challenges for local workers who are paid in pesos.

 

[Bharat]

Thanks to all! I worried for nothing. I just brought $100 USD bills as suggested and I didn't have any issues exchanging no matter which city I went to. I feel like such a fool worrying so much.

I also use my credit cards and got great rate. It was nothing like I imagined and worry for nothing.