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Pesos to USD in the States

Dublin, Dublin...
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Pesos to USD in the States

Hi!

I'm back from my trip to Argentina but forgot to exchange my pesos back to USD at the airport (I know, I know this was stupid on my part). Now that I'm home, it seems like no one is exchanging them. I went to my bank and even a travelex when I landed but they said financial institutions in the States aren't buying them due to economic conditions. Has anyone who made this mistake come into similar problems? Or have any tips on how to exchange my remaining pesos to USD?

Thanks in advance!

Boulder, Colorado
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1. Re: Pesos to USD in the States

You are out of luck, darlin'

Hope there weren't too many..........and just chalk it up to the expense of your trip.

BTW......you could NOT have exchanged pesos for dollars here anyway.......but you could have spent excess pesos at the duty-free shop at the airport OR an exquisite dinner in town.

Hope you had a great time.

Dubai, United Arab...
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2. Re: Pesos to USD in the States

Try a travel agent or a trips agency like Thomson or Thomas Cook. They usually buy the foreign currency to offer it in their charter flights. In Argentina you can change it either. Otherwise I would try a Casino. They usually change every currency.

San Diego...
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for Buenos Aires
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3. Re: Pesos to USD in the States

Pesos are fairly worthless outside of Argentina. Heck, even in Argentina many locals don't want them to hold in savings. LOL.

Unless you're in a city with many Argentineans, I think you're going to be out of luck. No one that is intelligent saves any funds in pesos. So you will have a difficult time.

Nice, France
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for Buenos Aires, Nice
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4. Re: Pesos to USD in the States

Four years prior to Argentina's economic problems of 2012, the situation the OP is enountering of being unable to convert his pesos in the US had already happened for periods in Canada and Britain completely independently from one another and for different periods of time.

A country's foreign currency suppliers decide whether it's worth their continuing to buy and sell a specific currency. When they analyze and decide to stop dealing in one, they notify banks and exchange houses in that country of their decision. It is currency suppliers in our own countries, not our banks, that are deciding whether or not we can purchase at home some foreign currency or convert it back after our trip.

The stoppage in Canada lasted for about 2 years, in Britain over a year. Then Britain resumed trading in pesos quite a while before Canada did. During all that time, I believe that the US continued to deal with pesos.

I wonder why, at any given point in time, one country's currency suppliers think it's safe to trade in a specific foreign currency and suppliers in another find it too risky.

Since there's no way of knowing whether you'll be able to convert $AR back into your 'home' country's after your trip, it's better not to buy more pesos in Argentina than you'll need there.

Punta del Este...
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5. Re: Pesos to USD in the States

Sockhopper, I have never heard of "foreign currency suppliers." Who are they?

Nice, France
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for Buenos Aires, Nice
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6. Re: Pesos to USD in the States

Punta Lugano,

Neither had I heard of the existence of 'currency suppliers' to banks and exchange houses that transact cash currency sales and purchases with members of the public. The bank didn't give me the name of its supplier so I didn't research this farther. I accepted what 2 banks and a currency exchange told me all in the same week before I was about to return to BA and wanted to buy a few pesos in advance of my trip.

When a supplier de-lists a currency it decides not to trade in for the time being (ie. indefinitely), all financial institutions that sell foreign currencies to individuals such as travelers follow suit. They delete, all at the same time, that particular currency from their own buy/sell lists once instructed by suppliers that it is no longer available.

No one knows if and when trading in that currency might resume in the future in that country. So long as the stoppage continues, a traveler cannot sell or buy pesos there. The currency places I was using showed no concern for their not being able to trade in pesos. Not trading in a currency just happens sometimes, they said. I thought that banks would want a say in this but this didn’t seem to be the case.

One bank did show me a FAX that included a one-line notification issued by its currency supplier on the stoppage of $AR. All it said was that the $AR was as of now 'unavailable'.

Because this was years before Argentina’s current economic problems and new currency restrictions, I wanted a better answer. My bank phoned the supplier and asked it 'why?'. The supplier said only that the $AR wasn't looking very good at that time.

In late 2010 or early 2011, the $AR was being traded again in Canada. In the interim, people in the UK notified this forum that suddenly they could no longer buy pesos in Britain. The last time I bought pesos in Nov/11 in Canada, I had to order them about 2 weeks in advance and agree to pay the exchange rate that applied on the date of my order, not on the later date when I would be purchasing them when they arrived.

I'm still like to know who currency suppliers are, whether they’re associated directly with banks in some manner, and how they become authorized to determine the public’s access or non-access to any denomination of foreign currency. They’re still an enigma to me. (But so are credit card companies who set their OWN currency exchange rates for foreign credit card purchases.)

of many places
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7. Re: Pesos to USD in the States

Before my trip to Argentina I called 6 different currency exchange companies in NYC and was told that they no longer trade in Argentine pesos since several months ago. I am a tad confused about whether or not visitors can change pesos back to USD if they have the original receipt from the bank where the money was changed. (Some say yes, others say no.) Today I passed a cambio on Av Corriente in Buenos Aires and saw rates for both buying and selling USD so I wonder if one of these cambios can do it? I was in a hurry so i did not stop to inquire.

8. Re: Pesos to USD in the States

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