Argentina’s currency crisis a boon for foreign tourists

Argentines may be feeling the pinch of their country’s economic woes, but for tourists, the troubled peso is proving a holiday boon.

Brazilian Pedro Perreira de Azevedo has been rubbing his hands in delight after his family holiday, with his wife and three children, turned out cheaper than expected.

“We’d planned a budget of 7,000 reais (around $1,700) but in the end we’ve spent between 3,000-3,500,” said Perreira de Azevedo, while his family took pictures outside the Argentine presidential palace.

When they arrived from Belo Horizonte in the east of Brazil on September 5, the peso had just lost 20 percent of its value in the wake of President Mauricio Macri announcing Argentina would ask the International Monetary Fund to advance a $35 billion loan to help prop up an economy in crisis.