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Venezuelan president nicolas maduro announced a series of major economic changes over the weekend in another desperate attempt to prop up the country's flailing economy. The key changes, which were to take effect monday: Devalue venezuela's currency, the bolívar, by a whopping 95%. The president of venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years.
By devaluating the bolivar, the president of venezuela has a. Followed the law of supply and demand. Allowed the exchange rate to. The president of venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The official rate is falling from 4. 3 bolivars to the dollar, to 6. 3, a 32% devaluation. By increasing the bolivar value of exports of oil to the us and other nations, the government hopes to alleviate a budget crisis caused. The president of venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The official rate is falling from 4. 3 bolivars to the dollar, to 6. 3, a 32% devaluation. By devaluating the bolivar, the president of venezuela has:
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