Originally Posted by zinger1457
Why is that? Seems very unusual that none of the major bank ATM's would accept major credit cards.
It's due to the fact that the country was artificially inflating their currency. In fact, at the time, you couldn't have gotten Argentine pesos from an exchange in the US (which I found out later when I did further research). The only recourse was to bring US dollars. I believe this has been remedied after the elections in late November last year when the now President devalued the currency to market rates.
What was interesting is that the first thing I did in Buenos Aires was take an English only walking tour of the city center. The woman conducting the tour told everyone where the blue market exchanges were. She told us that Argentinians get paid in pesos every week and they use those pesos for their weekly expenses. At the end of the week, they take their excess pesos and exchange them for US dollars as a hedge against inflation. She said inflation at the time was 40%.