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Sunday, November 27, 2022

Argentina launched a new exchange rate for tourists: the keys

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How will the procedure of the new regulation be?

The card will convert the type of expense to the new rate set. Uruguayan tourists pay the cards in dollars and the card companies sell those dollars in Argentina through the financial market. Then they pay businesses or services in pesos.

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What can be paid in Argentina with the new dollar for tourists?

The new exchange rate will cover all the expenses of tourists in the country, from tickets and excursions, to meals and tour packages.

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How is the exchange rate calculated?

The exchange rate to be used will be the MEP dollar with the most liquid bonds. Until today, the one from Banco Nación was used, 90% lower. Credit card administrators may charge a commission for said operation.

Have you already talked to the banks so that they can implement it?

This regulation, unlike others, is not implemented through banks but through credit card operators. Banks intervene in the expenses of Argentines abroad and not in those of foreigners in Argentina.

How do you identify that the card is from a foreigner?

Just as it is already done. The chips and the routing of the cards indicate which bank and in which country it was issued.

Does the conversion do the business? Or the bank?

The business does not change anything. The bank does not intervene. The conversion is done by the acquirer of the credit card.

Source: Ambito

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