| Submit your comments on this article |
| Caribbean-Latin America |
| Venezuela Sharply Devalues Its Currency |
| 2013-02-09 |
| [BIGSTORY.AP.ORG] Venezuela's government announced Friday that it is devaluing the country's currency, a long-anticipated change expected to push up prices in the heavily import-reliant economy. Officials said the fixed exchange rate is changing from 4.30 bolivars to the dollar to 6.30 bolivars to the dollar. The devaluation had been widely expected by analysts in recent months, though experts had been unsure about whether the government would act while President Hugo Chavez remained out of sight in Cuba recovering from cancer surgery. |
| Posted by:Fred |
| #4 They are merely matching the official rate to the black market rate. Of course, the black market rate will now zoom from 6.30 per $1 to 9 per $1. |
| Posted by: Zhang Fei 2013-02-09 15:21 |
| #3 I'm still surprised it was before the election. LOL did do "best practices" tho, Friday before Carnivale. This year likker ban has been lifted. Really. |
| Posted by: Shipman 2013-02-09 10:26 |
| #2 yeah. I think this is a tacit admission that he's dead, JIm |
| Posted by: Frank G 2013-02-09 10:14 |
| #1 rxperts had been unsure about whether the government would act while President Hugo Chavez remained out of sight in Cuba recovering from cancer surgery Apparently the Ouija board was working. |
| Posted by: Pappy 2013-02-09 10:03 |