This article analyzes transnational migrations triggered by the dictatorships in Argentina (1976-1983) and Brazil (1964-1985), with attention to the representations associated to exile in these countries and in the Latin American context of the second half of the 20th century. The empirical data used are the memories narrated by Argentines who took exile in Brazil and by Brazilians exiled in Mozambique. By exploring the plurality of meanings that these authors attribute to their migratory experiences, we seek to understand how different political conjunctures in the countries of origin and destination implied varied forms of living and understanding exile. In a comparative perspective, the case studies also explore how the experience of exile was forged not only in relation to specific national and migratory contexts but also in relation to transnational social fields.