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AP National Business

Argentina adds another exchange rate — for tourists only

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Published 2:33 PM

By DANIEL POLITI
Associated Press

BUENOS AIRES, Argentina (AP) — In recent years, a moment often came when a visitor to Argentina suddenly grasped they could have gotten a lot more bang for their bucks if only they had brought cash to buy pesos on the unofficial market. A dollar sometimes would buy twice as many pesos in informal cash trading as the amount in pesos it would get in purchases using a credit or debit card covered by the official exchange rate. That should, at least in theory, be a thing of the past as of Friday. The government has implemented a new regulation allowing visitors using credit and debit cards to get more pesos than the official rate gives.

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