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The Venezuelan way is faking the value of the Bolivar and pushing everyone to the black market to buy dollars.The official rate is Bs.4.30 per dollar. The black
by rafaelm 14y ago
The Venezuelan way is faking the value of the Bolivar and pushing everyone to the black market to buy dollars.The official rate is Bs.4.30 per dollar. The black market rate is almost Bs.10 per dollar.
Are you aware that most of the products we consume here are imported? Venezuela almost does not produce anything other than oil.
So , the clothes you buy, the medicines,food,etc,etc, everything has to be imported. Not everyone gets access to dollars from the government , so you have to buy dollars in the black market to import products. This causes the 25-28% yearly inflation rate we have. In the end, the people pay the price.
The solution from the government against the black market rate : make it illegal to even talk about the black market rate. Basically,censor it.
I hardly think that is the proper way to run an economy.