06/19/2013 09:26 am ET Updated Aug 19, 2013

Argentina's Weakening Peso Turns Country Into Shopping Paradise


Visitors that walk along Florida Street, one of Buenos Aires' famous shopping spots, are greeted with expensive-looking items that can be bought for little money. But that's not because the goods in those store windows are poorly made knock-offs -- it's because the cash that lines their wallets is black-market money.

Tourists who turn to the streets rather than the banks to swap their dollars in Argentina are getting a bonanza of extra pesos and can shop much more cheaply than back at home. A leather jacket that costs $250 in Lima, Peru, can be found for about $150 in Buenos Aires.

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