Ola Uruguay Real Estate and Investments

You have dollars. You need pesos. What do you do?

If you can avoid it, don’t just dip into the nearest exchange house. Rates can vary widely from place to place, so it pays—especially if exchanging large amounts—to find the best rates.

Get surfing for the best rates

Although exchange rates normally hover around the same prices, variations can be as large as $0.15 depending on where you choose to do your transactions. After nearly two years of practice, I have discovered that I can find the best rate and save myself money, not to mention time and energy, with just a little online research.

Casa de cambios (exchange houses) abound in Uruguay, however only a few have online sites that list their daily cotizaciones (exchange rates). I use these sites to gauge who is offering the best rate that day. If en-route I see a better rate on the street, I will know it and smartly dip in to make my change.

Bookmark these pages and stay exchange savvy:

Gales Casa Cambiaria

http://www.cambiogales.com.uy

Not always, but usually Gales has the best rates in town. They only have four locations in Montevideo, but each are well positioned, near to where business is happening: the World Trade Center, Ciudad Vieja, El Centro, and Pocitios. Be careful, their listed price on the board outside is usually 0.10 to 0.15 lower than what they actually exchange at inside, so be sure to ask.

Banco Republica

http://www.bancorepublica.com.uy

Banco Republica is the national bank and their locations are conveniently located throughout Montevideo and Uruguay, and in most major shopping malls. Their daily rates are listed on their home page. Unlike exchange houses, the price listed is usually the exact price you will get.

Abitab

http://www.abitab.com.uy

Abitab is a middle-man of sorts. Since most bills in Uruguay cannot be paid online, Abitab acts as a receiver of payment. You can also buy lottery tickets here, as well as tickets to large spectator events, like soccer matches and concerts. Their website is not very good, but with over 200 locations in Uruguay, they can’t be beat for convenience. Use their website to find the phone number to the Abitab in your neighborhood, and call before you head out. Not all Abitabs exchange money.