
“Venezuela’s currency controls are turning trips abroad into profitable junkets. A 27-year-old trade analyst from Caracas said she earned six times her monthly salary by traveling in April to Lima, where a business swiped her credit card and gave her $1,600 cash, charged at the official exchange rate of 6.3 bolivars per dollar. When the analyst, who requested anonymity because what she did is illegal, returned to Venezuela, she sold the dollars at the street rate of 29-to-1, enough to pocket 25,000 bolivars after paying off her credit card and travel expenses. The scheme, known as ‘raspao’ or ‘big scrape,’ is booming in Venezuela.”
Related posts:
Kenya to Introduce Exchange-Traded Funds, Market Regulator Says
How the U.S. got mixed up in a fight over Kurdish oil
Iraq finds extra billion barrels of oil
German politician stabbed, allegedly over support for refugees
Police blame 'poor lighting' after killing innocent grandfather, 72, while searching the wrong home
State Department slams Pakistani minister’s $100,000 filmmaker bounty
Obama 'deeply concerned,' warns Russia against Ukraine intervention
Unarmed Teen's Hands Were Up When St. Louis Cops Shot Him Dead
Chicago fire department mistakenly pronounces teen dead, leaves him to die
Caretaker: 107 year old was scared during SWAT shootout
Unique institute unites capitalists who want to save the world
Bitcoin Poses a Challenge for Law Enforcement
Del. hospital doctor busted for selling illegal drugs for Bitcoins
Texas bank welcomes concealed handguns
Homeland Security asks Pentagon to house 12,000 migrant family members