Earlier this week Argentina devalued its peso, and the bond market responded by punishing the country by pushing the cost to insure the country’s debt to a three-month high.
Over the week, the peso has fallen 15% against the dollar.
That’s the drama playing out in financial markets, but this devaluation has meant major changes for everyday consumers as well.
Conz Preti at Buzz Feed tweeted out this picture from Reddit, user al19. It’s the price of a Samsung Galaxy S4 phone at a store called Gabarino (it’s like Best Buy) in Lanuús, Argentina. In 6 hours, the price of one phone sky rocketed from 7,999 pesos to 11,518 pesos.
You’re looking at a check-out computer in the store. You’ll note the date and the time in the top red rectangles. The price is to the side.
Check out the image below:
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