![]() If the calculation of a Five Day Rate (FDR) demonstrates a differential of over 10%, the ICH also produces an alternative rate by calculating the average of that currency's exchange rate for the entire month. The process developed to calculate the FDR's also contains a function to identify differentials of over 10% between one month and the next. The previous month's FDR's are used for the current month's interline billing. FDR's are used by ICH members to convert interline billing into the billing currency. The rates are expressed in USD, EUR, and GBP. They represent the average of the exchange rates for the five banking days ending on the 25th of each month. These rates are used to ensure that ICH customers are not exposed to any currency exchange risk on miscellaneous interline billings that may occur between the time an invoice is billed through the ICH and the time that it is settled. Rates for one day each period, seven days after the "advice day" that the IATA Clearing House accepts or makes payments. This annual subscription includes: Call Day Rates (CDR) ![]() Purchase IATA Clearing Services Exchange Rates > Compare the Exchange Rates now IATA Clearing Services Exchange Rates IATA Exchange Rates are the sole source to support interline billing and establish tariffs. Rules have been developed and maintained so that exchange rates are monitored against base currencies such as USD, GBP, EURO. In order to establish selling fares and to perform interline invoicing and settlement, airlines must have rates of exchange between world currencies. Argentinians have, of course, been hit much worse than any visitor.International air transport depends on the ability to establish tariffs, use the service of interline partners and to settle amounts due for interlining traffic in the agreed settlement currency. The dual rate began after the government initiated a number of restrictions on currency exchange in an attempt to prop up the fledging peso and reduce capital flight (ie investors taking their fortunes out of the country). When a shopkeeper recognises you are a tourist, you are likely to be offered an upfront deal: “We accept dollars at 12 pesos”, or something similar. Some will work to the blue rate, even though that is illegal, or they will come close to it. Many businesses, including hotels and restaurants, will accept US dollars. The Argentinian market, which experienced a complete economic meltdown in 2001/02, has quickly adapted. If you want to stick to using US dollars in your day-to-day transactions, that’s common too. Other tourists simply head to central shopping streets and respond to not-so-subtle calls of “Cambio! Cambio!” (exchange) the wise ones having checked the current rate first, so they can barter. So how do you track down the more favourable blue rate? Many foreign visitors set up a local contact who can make the change, or ask their hotel to recommend a “cueva” (literally meaning cave in reality, more like fully functioning businesses, accepting dollars, euros and pounds). Taking plenty of hard cash contradicts the usual advice to tourists travelling abroad, but many visitors to Argentina have been doing just that to take advantage of the black market rates. In short, you can change your money at an official outlet for one price or you can go to an unofficial trader and get it changed at the “blue” rate – which will put many more pesos in your pocket. Since the country’s government introduced tough currency change restrictions on its people, a black market has emerged. This is the best price you’ll get if you are buying or selling physical bills, and the transaction is done with no involvement of any government-sanctioned or licensed entity (like a bank). This is the cost of buying and selling a physical dollar bill in a cueva, or clandestine financial house in Buenos Aires. Blue Dollar AKA Dólar Blue or Unofficial Dollar is parallel dollar rate of USD in Argentina.
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