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I'm not sure that's how the black market works. I don't think I can exchange dollars for bolivars. That sounds like a losing proposition for the black market.
by optimuspaul 10y ago
I'm not sure that's how the black market works. I don't think I can exchange dollars for bolivars. That sounds like a losing proposition for the black market.
- jimmywanger 10y agoI'm pretty sure that's how the black market works. Why do you think otherwise? If you were on the black market, you'd LOVE to exchange bolivars for dollars. The inflation rate is over 700% I think this year, and it's only going up. Why wouldn't you want something that's almost guaranteed to be valuable, instead of holding on to a rapidly depreciating asset?
- segmondy 10y agoHe said, he won't want to exchange dollars for bolivars. He is right, what are you going to do with with the bolivar? By the time you get to spend it, it's lost it's value by tons. Unless you are buying land, or paying people and doing business. But even then you run the risk of having your land, business seized. Anyone with dollar will hoard it as much as possible. It's your golden ticket out of the country.
- jimmywanger 10y agoDid you not read my comments? I said that exchanging dollars for bolivars was easy. Exchanging bolivars for dollars, that's different. You realize you just said that you said the exact reversal of my statement.
- bpolania 10y agoPeople who lives in Venezuela saves in US$ and exchange dollars for bolivars when they need liquidity in local currency.