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Topic: Venezuela Devalues Its Currency |
Venezuela Devalues Its Currency
Business Insider, by Matthew Boesler
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Original Article
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Posted By:PageTurner, 2/8/2013 3:55:27 PM
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Venezuela just undertook a massive currency devaluation, repegging the bolivar to a rate of 6.3 per U.S. dollar from a previous exchange rate of 4.3 bolivars per dollar. The government also announced that it would shutter the a Venezuelan currency exchange system known as SITME. Given the currency devaluation underway in other economies around the world right now – notably, Japan – a few are calling this Venezuela´s foray into the global "currency war" between countries trying to devalue their currencies in order to increase export competitiveness.
Content corrected by staff.
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Comments:
More on the catastrophe in Caracas. Get ready for the riots.
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Reply 1 - Posted by:
vesicant, 2/8/2013 6:08:21 PM (No. 9166345)
Pay attention to what happens in Venezuela. It´s what scumbama wants for the US.
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