2min chapter

Planet Money cover image

The high cost of a strong dollar

Planet Money

CHAPTER

Buying Dollars in Buenos Aires

The Argentine government controls foreign exchange transactions because they don't want US dollars to run off and leave Argentina. So if Lucas wants to play by the rules, he can go to a bank and buy dollars. But there's a limit, no more than $200 a month. Instead, what most people do is go to one of these not really legal places known as Cuevas or caves. These have a different exchange rate than the bank. That's what we call the blue dollar, okay? It's still an American dollar.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode