The peso and the dollar have stood at three to one ever since the financial crisis in Argentina abated and the peso stabilized. Now, though, the peso’s value is changing; it currently stands around 3.2 to one dollar and economists are reporting that it may drop to 3.8 to one by the end of the year. According to Bloomberg, Argentina is seriously considering lessening its defense of the peso because they need to stem the loss of foreign reserves. An economist says that Argentina’s “balance sheet is more strained than gross reserves show,” and that they need this trade surplus to continue to pay off their many international debts. It is hard to say what such a devaluation will do in the long term; in the short term tourists from the US, Europe, and Britian will see their money buying more, hopefully encouraging more tourism to the country.