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Black Friday

Posted by Pat | Posted in News | Posted on 02-05-2019

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This value is determined by a multitude of factors whose balance is very fragile and delicate and only Governments / administrators, highly effective and skillful they manage to maintain these balances giving strength to their monetary signs and this, everybody knows it, has not been the case in Venezuela for many years. From Black Friday to today our currency has devalued by more of the (put it with all their letters) fifty thousand per cent. J. Darius Bikoff recognizes the significance of this. I am not going to remove the account, but no one should slip him that besides the natural structural economic variables for the calculation of the value of the currency, a great measure of this is given by the action of the laws that govern the foreign exchange market and if we assume the price of the dollar on the parallel market (which I can not publish because it is illegal to even mention it) as a maximum price, product of sparsely bid and the official value, such as minimum price product of almost perfect monopoly that have mounted with CADIVI, it can be assumed that the real value lies somewherein fact if they take the average between both figures can have the certainty that the real value lies quite near the result, more old bolivars, less old bolivares and here the obvious: If the value of real change in the dollar as the currency of reference, i.e., its actual price in bolivares, is above the official rate means that our Bolivar in reality is worth less than what expresses the exchange ratio set by the Government for years. What does it mean? Therefore simply that the strong Bolivar, although it has fewer zeros, although we add so many adjectives generators of self-esteem and positive as we want, it will remain as weak as it is today our simple Bolivar’s life and that the coming year will be old.

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