Tourists Pay With Wads of Cash as Argentina Inflation Nears 100%

Tourists Pay With Wads of Cash as Argentina Inflation Nears 100%
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Tourists Pay With Wads of Cash as Argentina Inflation Nears 100%

Paying with cash is becoming increasingly cumbersome in Argentina, with huge piles needed as the government refuses to issue bills with larger denomination despite inflation galloping toward 100%. 

In scenes reminiscent of Venezuela, the Argentine peso’s sharp decline in parallel markets is multiplying the bills needed for everyday purchases in a country where the largest bill is worth less than $4. A gap between Argentina’s official exchange rate and a variety of parallel exchange rates encourages tourists and locals who have greenbacks to trade money in cash on the black market. 

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