The Venezuelan crisis, explained | Penn Today
The Venezuelan crisis, explained | Penn Today
Feb 8, 2019
upenn.edu
Devalued Venezuelan currency artfully sold on Bogota streets
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Devalued Venezuelan currency artfully sold on Bogota streets
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SOLVED: Read this news report about a planned devaluation of the bolivar, the currency of Venezuela. The president of Venezuela announced that the country would be devaluing the bolivar for the fifth time in nine years. The official rate is falling from 4.3 bolivars to the dollar to 6.3, a 32% devaluation. By increasing the bolivar value of exports of oil to the US and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending
SOLVED: Read this news report about a planned devaluation of th…
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