Understanding money in Argentina
Argentina uses the Argentine peso (ARS), but U.S. dollars are also important in the economy, particularly for savings, property and some larger transactions. For everyday spending, visitors will encounter cash, debit and credit cards, bank transfers and digital payment apps.
Exchange rates can vary depending on where and how money is exchanged. ATMs and card payments are widely available in cities, but carrying some pesos can still be useful for smaller purchases and places that do not accept cards.
You can check current reference rates any time on our Markets page.
The Argentine peso
The peso (ARS) is issued in banknotes and coins of varying denominations, which the Central Bank has periodically updated to keep pace with inflation. Argentina has lived through a long stretch of high inflation, so prices, and the banknotes needed to cover them, have changed considerably over the past decade. It is worth checking current denominations rather than assuming the bills you remember from a previous trip are still the ones in circulation. If they are, they are probably worth rather less.
Blue dollar explained
For years, Argentina's strict currency controls, known as the cepo cambiario, kept the official exchange rate well below what people were actually willing to pay for dollars, giving rise to an informal "blue dollar" market with its own widely quoted rate. In April 2025, the government eliminated the cepo, lifted the cap on how many dollars individuals could buy per month, and moved the peso to a floating exchange band. That has narrowed the gap between official and informal rates considerably, and for most everyday visitors the blue dollar is no longer the practical necessity it once was, though it is still useful to know the term, since it remains part of how Argentines talk about the exchange rate.
Using U.S. dollars
Dollars remain deeply embedded in Argentine financial life, particularly for savings and larger purchases like real estate, where prices are still often quoted in dollars rather than pesos. Since the 2025 reforms, individuals and businesses can buy and hold dollars far more freely than before. Day-to-day spending (meals, transport, most retail) is still done in pesos, and most businesses expect payment in the local currency.
Credit & debit cards
Visa and Mastercard are widely accepted in cities and tourist areas, less so in small towns and rural areas, where cash is still preferred. Foreign cards typically convert purchases at the prevailing exchange rate; travelers should check with their bank about foreign-transaction fees and be cautious of merchants offering "dynamic currency conversion," which usually comes at a worse rate than letting your own bank convert the charge. Contactless payment is increasingly common in Buenos Aires and other major cities.
Cash & ATMs
ATMs are widely available in cities, though foreign cards can face per-withdrawal limits and fees set by both the local bank and your home bank, which can make repeated small withdrawals expensive. Many travelers still find it useful to arrive with some cash on hand, particularly for smaller towns, taxis and vendors that do not accept cards.
Banking in Argentina
Opening a full Argentine bank account generally requires a CUIL or CUIT (see our paperwork guide) and proof of residency, which puts it out of reach for short-term visitors. Digital wallets such as Mercado Pago have become a common way for residents to pay bills, transfer money and make everyday purchases via QR code, and are widely used alongside traditional bank transfers.
Paying like a local without an Argentine account
Much of daily life in Argentina runs on QR codes and bank transfers. Shops, cafés, taxis and even street vendors often display a Mercado Pago QR code, and landlords, tradespeople and small businesses frequently ask to be paid by transfer to an alias, CBU or CVU, the identifiers for Argentine bank and digital-wallet accounts. Both normally require a local account, which in turn requires a DNI or CUIL.
A newer set of apps closes that gap for visitors and newly arrived residents. You load them with dollars, euros or stablecoins from abroad, and they pay the QR code or transfer in pesos on your behalf, at an exchange rate shown before you confirm. Two that work well in Argentina:
- WanderWallet: pays Mercado Pago and other QR codes and supports ATM cash withdrawals in Argentina, and also works in Brazil, Colombia and Bolivia. It is funded by bank transfer in dollars or euros, Revolut Pay or USDC, requires identity verification, and charges a flat fee of US$0.20 per payment at the time of writing.
- CacaoCash: pays Mercado Pago QR codes and sends pesos to any alias, CBU or CVU without a DNI or an Argentine bank account. It can be loaded in dollars, euros, pounds or USDC, supports ATM withdrawals and offers cashback on payments.
Both apps show the exchange rate before each payment, so it is easy to compare against your card. Rates, fees and features change, so check the current terms in each app before loading large amounts.
Foreign cards, including multi-currency cards such as Wise and Revolut, remain the simplest option wherever cards are accepted, and Western Union lets you send money to yourself for cash pickup in pesos. Where a seller only takes QR codes or transfers, an app like the ones above is often the only way to pay without cash.