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Saturday, May 23, 2015

400

Official rate, for corrupt narco military only, is still at 6.3
Away from the computer for three days and I come back tonight to see that the Venezuelan black market currency has crossed the 400 line!

Since I left Venezuela the currency has lost more than 25% of its value. I am aghast!

Then again what can you expect? The black market rate crossed the 300 reddest of red lines and yet the regime was busier defending narco creep Diosdado Cabello than taking a sensible, ANY sensible economic measure, ANY.

Expect 500 any time soon. And a 4 digit inflation next year.
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2 comments:

  1. Island Canuck12:14 AM

    I saw a question in Twitter today - Who is receiving $$ @ Bs.6,3?

    Are they giving out ANY amount at that rate?

    You sure don't see it in the market place with all foods facing huge increases.

    Maybe for medicines but those are showing a shortage of 60 to 70%.

    Is anybody anywhere getting any $$ at any price?

    My accountant was in CCS a few weeks ago & visited La Guaira.
    She said that there were virtually no ships unloading & none lined up.

    Can't wait to see what happens in June.
    Macabre thoughts!

    ReplyDelete
  2. Anonymous6:23 PM

    In Caracas Chronicles they have a good analysis about this:

    http://caracaschronicles.com/2015/05/22/will-the-dollar-stop-rising-any-time-soon/#comment-193386

    ReplyDelete

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