Day 49 - Last month, when our cruise ship arrived here, we changed some US dollars into Argentinian pesos. We didn't change much because of the inflation rate here. In a post on FB, I answered a friend, Daragh, about the cost of living in Argentina.
Here was my response to him:
"It ranges from very reasonable to cheap cheap cheap. However, it's not as easy as just saying that. Annual inflation here is approaching 100%. However, it doesn't matter as we are bringing currency into the country and get a great exchange rate. You can look up the difference between the regular rate and the "Blue dollar in Argentina". We've only been here a couple of weeks, but it's gone from 310 to 350 pesos per US dollar. Now even a credit card, at least my HSBC Mastercard, gets near the Blue Dollar Rate. So the price increases affect normal Argentinians but not visitors. For example, a subway ride costs us less than $US 0.10."
Of course, Argentinians have devised various ways of coping with high inflation. If money stays in people's pockets (or bank accounts), it depreciates. So, it is best for a worker to spend it as soon as he or she gets it. For example, we've seen a lady with dozens and dozens of bottles of mouthwash at the supermarket checkout. It's clearly better to put one's cash into something on sale that one will eventually use. Alternatively, changing pesos into other world currencies will help retain more value. Therefore, foreign currency is in great demand, especially new $US 100 bills.
Today, we decided to go get more local cash. We chose one new, crisp, one-hundred-dollar bill and headed to Calle Florida. That is a part of the city with pedestrian shopping avenues and lots of high-end stores.
First, we got on subway Line A and transferred to C. Unfortunately we went in the wrong direction and rode for about 10 minutes. We got to see Plaza Constitución at the end of the line. We took the time to walk to a cathedral we saw at the other end of it. When travelling in any country, we always visit places of worship that are open. We try to learn about and pay respect to the religion.
After we returned to Line C, we got off at the correct station called LaValle. Buenos Aires was settled by immigrants at the same time as the US was flooded with Europeans looking for a better way of life. The food here often seems quite Italian as a result. The town grew immensely during the second half of the 1800s through into the 1930s. Most buildings reflect those times and this is one reason why this city looks so European. I love cities where pedestrians rule, at least a few streets.
Next, we found a 'Cambio' guy, except in today's case it was a lady. This person shouts, "Cambio." He or she is looking for tourists who have come with foreign cash. We knew to ask how much we could get today, and she led us into a business with a cashier in the back room. It all sounds rather sorted but it is not really against the law, at least not enforced. We helped a local saver or entrepreneur by selling $US 100 for 34,500 Argentian pesos. Because we use a credit card for groceries, this will be enough pesos to last us for several weeks.
After walking through the Galerías Pacífico, a very classy maze of stores, we walked to a different subway stop, St. Martín, to return to the apartment.