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Economy of Venezuela - Wikipedia


The economy of Venezuela is largely based on the petroleum sector and manufacturing. .... The bolivar, which had been suffering from serious inflation and devaluation .... According to Bank of Ameri...

Venezuela devalues currency by 32% against the dollar - BBC News


Feb 9, 2013 ... In a widely expected move, Venezuela cuts the value of its currency by 32% ... Image caption The devaluation of the bolivar is expected to have an impact ... It was announced after Vice-President Nicolas Maduro's return from ...

Venezuela Hikes Gas Price, Devalues Bolivar as Economy Tanks ...


Feb 17, 2016 ... Venezuela hiked gasoline prices for the first time in almost two ... Maduro also announced a 20 percent increase to the country's minimum wage effective March 1. ... of gross domestic product include a “sharp” currency devaluation, a hike in gasoline and electricity prices and spending cuts, Barclays Plc ...

Venezuela devalues currency against US dollar - Al Jazeera English


Feb 9, 2013 ... Bolivar loses 32 percent of its value against the dollar in move the ... Venezuela is devaluing its currency by 32 percent against the dollar on the ... But another effect is to cut the deficit, which in Venezuela last year ... The change had been widely expected by analysts and business leaders since last year.

Venezuela devalues currency for first time since 2010 | World news ...


Feb 8, 2013 ... Widely forecast devaluation expected to push up prices in import-reliant economy . ... Venezuela has changed the fixed exchange rate from 4.30 bolivars to the ... Venezuela's government announced on Friday that is devaluing the ... has flourished and the value of the bolivar has recently been eroding.

Venezuela Announces Currency Devaluation - Fox News Latino


Feb 9, 2013 ... Venezuela's government has had strict currency exchange controls since 2003 ... The devaluation had been widely expected by analysts in recent ... and it pushed up the price of the dollar against the bolivar by 46.5 percent.

Venezuela president raises fuel price by 6,000% and devalues ...


Feb 17, 2016 ... Venezuela's president, Nicolás Maduro, has announced the first rise in ... said Venezuela needed a sharp currency devaluation, spending cuts ...

Venezuela devalues currency amid dollar shortage - News - Yahoo


Feb 13, 2013 ... CARACAS, Venezuela (AP) — Venezuela devalued its currency on Wednesday amid ... of the new Venezuelan currency, coined the 'Strong Bolivar' in Caracas, Venezuela. Venezuela's government announced Friday, Feb. ... the devaluation because the measure had been widely expected for months and ...

Venezuela Devalues Its Currency - WSJ


Feb 9, 2013 ... CARACAS—Venezuela devalued its currency against the dollar on Friday, ... The devaluation was widely expected sometime this year after the ... on the black market, where the value of the bolívar has slid to 18 per dollar. .... in international markets costly and Venezuela cut back on bonds sales last year.

Download PDF - The Institute of International Finance


Mar 18, 2015 ... Brazil, Argentina and Venezuela (60% of regional GDP) will be a heavy ... aftermath of the 2008 global crisis, reliance on local currency depreciation to absorb the ... forced to resort to periodic massive devaluations of the bolivar against the dollar in ..... Source: IIF; *Expected; date yet to be announced.

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Venezuela creates new 'free' currency system, devaluation seen ...


Feb 10, 2015 ... A cashier counts Venezuelan bolivar notes in a state-run ... The new platform, called Marginal Currency System or Simadi, is the ... But dollars fetch nearly 190 bolivars on the black market, according to widely referenced website dolartoday. com. .... Ecuador cuts Julian Assange's internet access: WikiLeaks.

Venezuela devalues currency - Telegraph


Feb 8, 2013 ... Venezuela's government is devaluing the country's currency, ... The devaluation had been widely expected by analysts in recent ... first devaluation to be announced by Chavez's government since 2010, ... down the official value of the bolivar by 46.5pc against the dollar. ... Cardboard cut-out of Ed Miliband.

Venezuela's currency: The not-so-strong bolívar | The Economist


Feb 11, 2013 ... In the seventh devaluation during the presidency of Hugo Chávez, ... Since he took office in 1999, the cost of the dollar in bolívar terms ... GDP is expected to stagnate in 2013, while inflation continues to rise. ... And the bolívar will face even more downward pressure now that the government has announced ...