Currency

in Argentina

In Argentina, the currency is the Peso (AR$). The rate fluctuates significantly, but £1 is around 77 Pesos (1 Euro = 66 Pesos) at the time of the last update of this page. For current currency exchange, just type “argentine pesos to pounds” in Google (or better, check with your bank).

Cash

Paper money comes in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 pesos. One peso equals 100 centavos; coins come in denominations of  25 and 50 centavos, one, two, five and ten peso.

Counterfeiting, of both local and US bills, has become a problem in recent years, and merchants are very careful when accepting large denominations. You should be too; look for a clear watermark or running thread on the largest bills.

Changing large denomination bills is a huge problem throughout the country (and a major gripe for Argentines and tourists alike). Whenever you can, change your AR$500 and AR$1,000 bills at a large store to avoid problems. Taxi drivers, kiosks and small stores rarely change them, and you could easily find yourself without a means of paying.

Credit card

The most widely accepted credit cards are Visa and MasterCard, though American Express and a few others are also valid in many establishments. Before you leave home, warn your credit-card company that you’ll be using it abroad or it may put a hold on the card thinking it was lost.

Some businesses add a recargo (surcharge) of 5% to 10% toward credit-card purchases. Also, the actual amount you’ll eventually pay depends upon the exchange rate not at the time of sale, but when the purchase is posted to an overseas account, sometimes weeks later.

If you use a credit card to pay for restaurant bills, be aware that tips can’t usually be added to the bill. Some lower-end hotels and private tour companies will not accept credit cards. Holders of MasterCard and Visa can get cash advances at Argentine banks and most ATMs.

Travelers Cheques & others

TCs are very rarely accepted, so it’s better not to take any with you.

Source Lonely Planet: http://www.lonelyplanet.com/argentina/practical-information/money-costs