Venezuela bolivar currency devaluation

[JadeDragon]

Last week the government took its first step to increase the supply of dollars in the economy by channeling more of its oil exports revenue to the central bank. South America’s biggest oil producer is facing shortages of goods ranging from diapers to cars as the lack of dollars crimps imports. In the black market, the bolivar has weakened 53 percent to 18.39 per U.S. dollar in the past year, according to Lechuga Verde, a website that tracks the rate.

Read more: http://www.businessinsider.com/venezuel ... z2KRyOiUmb

Hugo Chavez really needs diapers since he is so full of crap.

[TwoPenniesEarned]

Everyone is printing. Ironically the US as much as Venezuela. Good tidings for PM's. Jut a shame that it's because our governments are beggaring our neighbours.