[f00zz]

When I was in Argentina a few years ago there were money changers peddling dollars on every corner in downtown Buenos Aires, at a time this was illegal (Cristina was president).

[maxilevi]

Funnily enough they are called "arbolitos" (small trees). Because they are stationary and have green leaves (dollars)

[technofiend]

I can still hear them chanting "Cambio, cambio, cambio" and it's been a few years. ATMs give hardly anything and charge a large fee per transaction as well, so it's no surprise people go to arbolitos.

[maxilevi]

In reality most people don't use "arbolitos" because their rate has a big spread.

Instead people who need to exchange regularly go to "cuevas" (caves) which are just hidden and illegal currency exchanges that have much more volume.

[technofiend]

Oh, really? TIL. I will have to ask about next time I'm there! Thank you.

[bradstewart]

You'd also get a better exchange rate from the arbolitos vs the ATMs.

If I remember correctly, it was referred to as the "black rate". If you paid a vendor in USD directly, you got the "blue rate". Both of which were much better rates than the ATM.