8 months Venezuela devalues currency MB |Biz
CARACAS (AFP) – Venezuela devalued its currency by almost 35 percent on Monday to bring it into line with the exchange rate of the dollar on the black market. The exchange rate is now fixed at 3,200 bolivars to the dollar, almost matching the 3,118.62 offered on the dolartoday.com site that acts as the reference for the black market. Exchanges will now be provided by a technological platform operated by a private firm called Interbanex, which said it would operate a ”supply and demand” exchange. The announcement represents a huge about-turn by the socialist regime of Nicolas Maduro, which has ... more