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Currency Deals: Where the U.S. Dollar is Strong in 2023
American travelers' purchasing power is growing in these countries
Mike Berner
July 18, 2023
Foreign exchange rates aren’t exactly a sexy topic for a #wanderlust post on Instagram. But they do make a difference for your wallet.
Case in point: the U.S. dollar has 14% fallen against the Mexican peso so far this year. A year ago, 1 USD translated into 20.50 MXN. Today, that same dollar only gets you about 16.80 MXN — not even a street taco in Playa del Carmen!
American travelers scored major deals in 2021 and 2022 as the U.S. dollar surged, but this year is a different story. Here is where the dollar is strongest so far in 2023.
U.S. Dollar vs. Other Currencies, 1/1/23 - present
Argentina
Argentine peso has gone down the toilet in recent years, contributing to the country’s rise as a nomad hotspot. 1 USD today equals 266 ARS if you go to an Argentinian bank. But what nobody tells you is that local demand for U.S. dollars far exceeds the official crappy exchange rate. On the black market, 1 USD equals 518 ARS — a rate known as the “blue dollar.” By using the blue dollar rate, you can essentially double your purchasing power in pesos.