Many websites have reported today's devaluation as "more than 50%". Bloomberg states it is 54%.

No doubt this will result in price rises. But perhaps not immediately. I recall the Asian Economic Crisis in 1997 which started when the speculators forced Thailand to abandon the Baht/US$ currency peg. The immediate result was a 10% drop in the Baht in 1 day. Thaland was not as used to devaluations as Argentina and the result was that many shop owners did not immediately raise prices. I recall a field day spending on all manner of goods in January 1998 when the Baht was down by 52%. Many major items were still at the pre-devaluation price.   

I think most of this devaluation is adjusting the "official" Peso conversion rate to the informal "Blue Dollar" rate.

The previous government tried to control currency rates, including an artificial (fantasy) conversion rate, resulting in a grey market where you could get significantly more pesos for your $...

Some/most/all (?) of the difference was already passed on in the local prices...

Argentina has a tough road ahead; this change might make tourism easier, hopefully contributing to improvements for Argentina in the long run...

7 minutes ago, EricV said:

I think most of this devaluation is adjusting the "official" Peso conversion rate to the informal "Blue Dollar" rate.

 

exactly, just returned from there yesterday.

During my 3 weeks there official rate stay at 347 while informal ' blue' one varied between 880 and 1000 depending on the day and place ( best rates are in Buenos) so  devaluation means just injection of reality. 

With that rate at the moment country is extremely good value for money. If booking hotels try to secure 'payment at the hotel 'option as it may save a lot of money if one will be allowed to pay in pesos obtained by informal exchange.

Main inconvenience is actually counting money, highest denomination is 2000  but is rarely seen so for 100 $ bill one will receive brick of 100 of 1000 peso notes. Good news is never even 1 note was missing from the brick. But imagine paying 18000 taxi fare to EZE airport with 1000 peso notes, 18 of them.

Sounds like my first visit to Istanbul in 2000 when the rate was roughly 600,000 lira to US$1. I got conned by a taxi driver first time I returned to my hotel. I could see from the meter that the price was going to be in the region of 7 million and so I got out a 10 million note (took a good 10 seconds to check all the 0s). On arrival he did not take the small driveway to the front entrance but dropped us on the street. I guess that should have been a red flag.

Anyway, I handed over the 10 million note. Quick as a flash and in an obviously practised manoeuvre, he turned around and said I had only given him 5 million, in the process showing me a 5 million note. I was sure I'd given 10 million but failed to notice that the 5 million note was in his left hand whereas I'd given him the 10 million note in his right hand. So I gave him an extra 2 million. Then I felt stupid a few minutes later even though he'd only conned me for around US8! But lesson learned!

2 hours ago, PeterRS said:

But lesson learned!

So what exactly would you do differently next time?

Always ensure a taxi took me to the front door of the hotel where it was unlikely they would attempt any scam. This was the Hyatt and I am certain the staff at the door would be so well aware of this type of scam that taxi drivers would not even attempt it. The day after we were going to another hotel to have lunch with a friend when that taxi driver tried the same scam. We refused to get out of the cab until he dropped us at the front entrance! No probem getting the correct change.

Generally, though, checking up on what types of scam were common wherever I travelled so that I could be aware of them in advance. That plus asking at hotel concierge desks what I should look out for.

On 12/14/2023 at 4:55 AM, vinapu said:

exactly, just returned from there yesterday.

During my 3 weeks there official rate stay at 347 while informal ' blue' one varied between 880 and 1000 depending on the day and place ( best rates are in Buenos) so  devaluation means just injection of reality. 

With that rate at the moment country is extremely good value for money. If booking hotels try to secure 'payment at the hotel 'option as it may save a lot of money if one will be allowed to pay in pesos obtained by informal exchange.

Main inconvenience is actually counting money, highest denomination is 2000  but is rarely seen so for 100 $ bill one will receive brick of 100 of 1000 peso notes. Good news is never even 1 note was missing from the brick. But imagine paying 18000 taxi fare to EZE airport with 1000 peso notes, 18 of them.

You are getting around! I assume there are rare stamps in Argentina? Are you back in Bangkok soon? I am due there on 2nd January, on way to Cambodia.

 

7 hours ago, Keithambrose said:

You are getting around! I assume there are rare stamps in Argentina? 

 

not quite, it was not boy hunting trip, rather old boys foray. 

4 hours ago, vinapu said:

not quite, it was not boy hunting trip, rather old boys foray. 

Ok!

18 hours ago, vinapu said:

not quite, it was not boy hunting trip, rather old boys foray. 

Do not derail, question was about stamp collection!

just out of curiosity, What is the usual rate of the rent boys in Argentina?

6 hours ago, AsianExplorer said:

just out of curiosity, What is the usual rate of the rent boys in Argentina?

There is not such a thing in a market with 200% inflation. Ask in the forum I already recommended, the Forum Pirata. 

On 1/24/2024 at 9:58 AM, AsianExplorer said:

just out of curiosity, What is the usual rate of the rent boys in Argentina?

I exchanged WhatsApp messages with a few guys in soytuyo and they were quoting between 80-100 USD. 

It sounds like you are getting the prices for foreigners. 

On 1/30/2024 at 12:04 AM, Latbear4blk said:

It sounds like you are getting the prices for foreigners. 

Agree. My non- local WhatsApp number gave me away. Any idea what's the tariff range at the moment?

2 hours ago, CallMeLee said:

Agree. My non- local WhatsApp number gave me away. Any idea what's the tariff range at the moment?

Right now there are no prices, the boys' fees are all over the place. You may find guys who ask you for the equivalente to 20 bucks, and to 500. If you want to find the best prices, check Skokka.com.