“Venezuela devalued its bolivar currency on Friday by 32 percent in a widely expected move that will shore up government finances after ailing President Hugo Chavez’s blowout election-year spending in 2012 but will also spur galloping inflation. The move slashes the official bolivar exchange rate to 6.3 per dollar from 4.3 under currency controls Chavez created in 2003 that require importers and travelers to apply for hard currency through a state agency. Dollars on the illegal black market had for weeks been fetching nearly four times the official exchange, which economists cited as a sign an exchange rate adjustment was imminent.”
http://www.reuters.com/article/2013/02/08/venezuela-currency-devaluation-idUSL1N0B8BWZ20130208
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Benghazi air space shut over security fears: Libya source
FTC Settles Google Antitrust Investigation
In crisis-ravaged Greece, ‘laughter clubs’ are booming
U.S. allowed Italian kidnap prosecution to shield higher-ups, ex-CIA officer says
Network of satellite guardians in space keep an eye out for natural disasters
Convicted Italian earthquake scientists resign over L'Aquila quake verdicts
Bangladesh police fire rubber bullets at workers seeking $100 month wage
Codename 'Apalachee': How America Spies on Europe and the UN
FDA finally releases draft of new food import safety rules
Supreme Court rejects appeal of shoplifter serving life sentence
Eric Holder ‘confident’ of bringing NSA whistleblower Edward Snowden ‘to justice’
Thousands flood Istanbul’s protest square after police clashes
Gold Mining Deals Seen Rebounding on Price Discount
Early Champions Of Bitcoin Reap Unexpected Windfall
U.S. bailout places 'Puerto Rico’s democracy at risk'