Due to instability in the Argentinian peso, which has experienced periods of hyperinflation, their is an ample opportunity for currency arbitrage through Bitcoin. In Argentina their are two separate currencies the "official" exchange rate, principally imposed by the local government on banks so that the currency maintains stability. Then the "real" exchange rate, often ranging from 70% to 100% greater and tied to the US Dollar. At time of writing the "official" rate for 1 US $ is 71,50 pesos and the "blue" rate is 131,000 pesos.
One can send US Dollars via a 3rd party transfer to an Argentinian bank account. Then buy Bitcoin with the Argentine pesos using the official exchange rate. Lastly, send the Bitcoin back to a US cryptocurrency wallet and sell the Bitcoin for US Dollars. This one trade amounts to a $6,069 profit.
Cryptocurrency has proven to be an effective method to hedge the instability of the peso. Argentine exchanges are experiencing higher and higher price premiums to purchase Bitcoin.