Why do the Argentine products have lower prices?

There are signs of improvement in Argentina after more than a year of economic crisis, but much will depend on the outcome of the upcoming election.
     The streets of Buenos Aires are full of foreign tourists these days. Many of them have been ’drawn here by the bargain prices on such Argentine products as jewelry, leather goods and handicrafts. The price declines are a result of the economic crisis and the devaluation of the peso currency. The peso was one-to-one with the U. S. dollar a little over a year ago, but it is now traded at a little over three to a dollar.