Supermarket Diarco in Buenos Aires is exchanging Blue dollar at 1,400 pesos to $1 USD (Any condition, shape or denomination)

[Finance Prof]

My doorman just told me that the supermarket chain Diarco is allowing people to exchange any US dollars they have and exchange at the rate of 1,400 pesos to $1 US which is higher than the current blue rate of 1,325. I think you have to end up purchasing something there but they will give you the change in pesos. Unlike money exchange firms, they are allowing the bills to be in any condition, torn, ripped marked on so if you have bills that you could never use, you might want to check it out. He went to the location here:

Diarco Barrio · Av. Pueyrredón 1068, C1405 Cdad. Autónoma de Buenos Aires, Argentinien

âââââ · Supermarkt

maps.app.goo.gl

 

[Betsy Ross]

Very interesting. Many are saying the blue dollar is very undervalued. This is a great promotion and a good idea. With the tax amnesty the government has made banks allow older gills and marked up as well. They said as long as 50% of the bill is there they will credit it. This sounds like a good marketing move to get all of these dollars spent or turned in. 1400 is a great rate right now. I wonder if you have to purchase some minimum number of items.

I don't have any older bills as I swapped these out with friends that visit me and take them to the USA but if any of you have older bills please stop by that supermarket and see if it works. There is one in Las Cañitas.

 

[Vince]

My cousin in Mar del Plata told me other stores are doing the same thing. Toledo Supermarket is doing it there and the rumor is that they are going to do the same thing with their stores in CABA. I have never been to Toledo but expect that to also start probably soon. They are using the same rate of 1400: $1 US. But I don't believe they have started it yet but I am told it will soon. Could be wrong but my cousin's in-law works there and said it's coming soon.

Super Toledo

toledodigital.com.ar

 

[Wally]

This is actually genius as it gets more currency into the system that probably would just be sitting under the mattress or in safes. It is a major hassle for me when I get marked bills and no one will exchange it here. I have to usually wait for a friend to come into town to swap it or if I happen to meet a tourist that is going back and I ask if they will switch with me as these marked or torn bills are not usable here.

That blue dollar exchange rate proves that the blue dollar is artificially low. I regret not exchanging more when it was 1500 to $1 but I have a feeling I'll have more chances to exchange at better rates.

 

[Finance Prof]

Expect more and more small businesses and also bigger stores to start doing this. Many consumers are tapped out and just don't have pesos to pay for bills. My friend that is a waitress told me that many times over the years she has gotten tips by Americans that didn't have pesos. They apologized but left her some $1 and $5 and $10 US bills that money exchange firms here don't want to exchange. She never had a use for this but she said now she is spending it at the grocery store.

CEPO won't be lifted until probably at least next year but stores are getting smart about accepting bills. Signs like this are at another Diarco store. This is from today.

 

[Uncle Wong]

Yeah I started seeing this on social media. I think it starts tomorrow in any of their stores in Argentina. I just looked on Google Maps and it does seem like there are several stores. This is great news!

My guess is other stores will copy them. Hopefully they blue dollar rate goes up amongst the stores and they create competition for the dollars. I had about $300 with me in smaller bills or bills that had stains or had slightly torn bills and I couldn't use these anywhere. No money exchange firm or cueva would exchange it with me. Now, I could have just used them.

I assume all of these bills will make it into Argentina banks now and then they will swap them into the US federal reserve for newer bills.

 

[Jenn]

Great news! That would be cool if more and more stores accepted US dollars at a high blue dollar exchange rate. But I can't tell from these signs. Are they only accepting $100 bills or will they accept smaller denominated bills too?

 

[oil rush]

These are some very wise business owners. If Milei won't drop the CEPO they are saying the hell with waiting and just going to accept dollars at the own rate they want to exchange for. I wonder if they will float the rate they exchange for and if this rate will be agreed to amongst many different stores and become another one of the many exchanges rates we have. Maybe they will call this the "orange" rate since it started at the supermarket.

In theory they would accept any money at all no matter the denomination. Because if the Argentina Central bank is forced to deposit it no matter the denomination or condition it is a good way for the stores to start depositing and building up US dollar savings accounts. These stores also are betting that the blue dollar is very undervalued now and it's a good and legal way for them to get in dollars.

Very smart.

 

[import export]

Very good idea. I wonder why stores didn't do this earlier?

 

[Betsy Ross]

Very good idea. I wonder why stores didn't do this earlier?

Up until President Milei came into power, currency controls were very strong. Now Milei has signaled he doesn't care what someone pays in and it's between private parties. Also, this seems like good timing with the blanqueo amnesty where the banks have said that they will take any cash for deposits no matter what condition as long as more than 50% of the bill was attached which is the same standards that USA banks use.

I think this is a first good step. Some people even if they have US cash in their houses might not want to declare it or deposit into their account. Seems like this way at the grocery stores it is a good way for people to use cash they have that might not be in good condition.

Previously banks might want wanted or accepted to deposit bills in poor condition but now they all must. Things are falling into place.

 

[Vero]

My doorman just told me that the supermarket chain Diarco is allowing people to exchange any US dollars they have and exchange at the rate of 1,400 pesos to $1 US which is higher than the current blue rate of 1,325. I think you have to end up purchasing something there but they will give you the change in pesos. Unlike money exchange firms, they are allowing the bills to be in any condition, torn, ripped marked on so if you have bills that you could never use, you might want to check it out. He went to the location here:

Diarco Barrio · Av. Pueyrredón 1068, C1405 Cdad. Autónoma de Buenos Aires, Argentinien

âââââ · Supermarkt

maps.app.goo.gl

View attachment 6903

GREAT to see this. I wonder if this will cause the blue dollar rate to go up? You would think it would have to if some places are allowing people to exchange dollars at 1,400 to $1. I have some older bills that are partly torn so I will go this week to this store and see if I can use them. I have never shopped here before. I see only 2 locations in CABA.

 

[Uncle Wong]

Here is their website that has some frequently asked questions.

Dólar Diarco

Dólar Diarco DÍA: 30/08/24 COTIZACIÓN: $1.335 Tomamos tus dólares y al mejor precio Cara chica, cara grande, arrugados, viejos, manchados o dibujados. PREGUNTAS FRECUENTES ¿En qué puedo utilizar el Dólar Diarco? Para abonar compras iguales o superiores al monto en pesos convertidos de los...

www.diarco.com.ar

 

[Sylvie]

Here is their website that has some frequently asked questions.

Dólar Diarco

Dólar Diarco DÍA: 30/08/24 COTIZACIÓN: $1.335 Tomamos tus dólares y al mejor precio Cara chica, cara grande, arrugados, viejos, manchados o dibujados. PREGUNTAS FRECUENTES ¿En qué puedo utilizar el Dólar Diarco? Para abonar compras iguales o superiores al monto en pesos convertidos de los...

www.diarco.com.ar

Thanks for posting this link with more details. So it doesn't appear to be as good as I thought then. It sounds like you can only exchange enough to pay for your goods. It doesn't sound like you can exchange cash and not use it for the store. I thought maybe you could exchange a bigger bill and just buy something small but that doesn't sound like it.

I have never purchased anything in this store. Does anyone know if prices are more expensive here?

 

[Frosted Flakes]

Seems like a great exchange rate. Hopefully more and more stores will do the same thing. I thought there would be a bigger spread on the blue and white dollar but I guess the government is heavily intervening. If they stopped that, the rate would probably explode upwards.

 

[Digital Nomad]

Seems like a good idea. This article said they are the largest wholesale supermarket in Argentina. I've never been there.

Un supermercado aceptará pagos con dólares “cara chica” y viejos a un valor más alto que el blue

La cadena mayorista Diarco habilitó una nueva forma de pago con dólares que habitualmente no son recibidos por los bancos, casas de cambio o financieras. Además, ofrecerá una cotización superior.

www.ambito.com

 

[import export]

I saw this article in the BA Herald. Does anyone know if any of the locations close to Palermo will work? This says only the wholesaler locations.

Argentina wholesaler launches its own dollar exchange rate - Buenos Aires Herald

The ‘Diarco dollar’ will allow shoppers to pay for purchases with dollars at a rate that’s currently above the blue dollar

buenosairesherald.com

 

[Finance Prof]

I saw this article in the BA Herald. Does anyone know if any of the locations close to Palermo will work? This says only the wholesaler locations.

Argentina wholesaler launches its own dollar exchange rate - Buenos Aires Herald

The ‘Diarco dollar’ will allow shoppers to pay for purchases with dollars at a rate that’s currently above the blue dollar

buenosairesherald.com

My friend visited the Montes de Oca location and said it worked perfectly. He had some older bills that had pen mark on it that he could never exchange anywhere and a partially torn bill and they allowed him to exchange at the 1,400 rate. Hopefully more stores will do the same thing.

 

[Vince]

My friend visited the Montes de Oca location and said it worked perfectly. He had some older bills that had pen mark on it that he could never exchange anywhere and a partially torn bill and they allowed him to exchange at the 1,400 rate. Hopefully more stores will do the same thing.

More stores are already doing it now. In Mendoza, Tadicor also is accepting dollars. The rate isn't as good at 1,375 but many places will probably start doing the same thing and charging in dollars OR pesos.

 

[I Love Mate]

I like that a national store like Diarco is doing it. I think stores like Coto have long accepted USD but the exchange rate wasn't as good as cuevas. These rates are better than cuevas. Hope that trend continues as the dollar is really artificially low.

Dólar “Diarco”: qué dice la empresa del debut como medio de pago en San Rafael

A dos días de empezar a recibirlo, desde la empresa explicaron cuál es el objetivo. Qué productos pueden comprarse con el "dólar Diarco" como medio de pago.

www.sitioandino.com.ar

 

[Betsy Ross]

My doorwoman said her relatives have gone to Diarco and used old marked bills that they never could use. They manage an Airbnb and would sometimes get tips but the bills had marks and they could never get them swapped out but no problems. It seems like many people are doing the same thing.

https://twitter.com/x/status/1827011704602907051