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Go Back   Armchair General and HistoryNet >> The Best Forums in History > Current Events > Latin America & the Caribbean

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Latin America & the Caribbean Including issues of Central and South America and Mexico.

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  #1  
Old 04 Dec 16, 00:07
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Venezuelan Bolivar value depends on a guy at Home Depot

Yep, a guy that works at Home Depot in Hoover Alabama sets the official, unofficial, rate of exchange on the Bolivar to the dollar and other currencies.

http://www.msn.com/en-us/money/marke...cid=spartandhp

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The socialist government led by President Nicolás Maduro has had to contend with the collapse of oil prices, corruption*and high inflation. For ordinary Venezuelans, that means their currency, the bolivar, has become mostly worthless — mostly, but not entirely. And right now, any value the bolivar does have depends largely on one guy who works at a Home Depot in Hoover, Alabama.
His name is Gustavo Díaz, and his website,*DolarToday,*has become a handy financial tool for Venezuelans trying to navigate the underground economy — so handy, in fact, that it affects the price of just about everything in Venezuela.
The Venezuelan government sets the rate at 10 Bolivars to a dollar. Diaz sets it at about 4,000 to the dollar. Want to guess who's right?
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  #2  
Old 08 Feb 17, 13:26
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..I've looked at some stuff on their economy
but this 2017...why would they not have an economic committee long ago to at least try to stabilize things?
...or is it like Iraq, Uganda, etc--''fake'' countries ? more like banana Republics ?
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