The city of Buenos Aires is located in the republic of Argentina in South America. Plata. Buenos Aires is located on the west bank of the Río de la Plata, the Rio de la plata is an estuary of the Parana and Uruguay rivers which forms a muddy fertile basin between Argentina and Uruguay. Buenos Aires is the capital of Argentina as well as its largest port. In fact the inhabitants of Buenos Aires are called ‘porteňos’ which when translated means ‘people from the port.’ It is the largest port in South America and a location of much economic prominence as it handles much f the container traffic for South America.