Venezuelan currency continues plunge

[Bacchus4.0]

http://www.ft.com/intl/fastft/323012

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The bolívar "fuerte" - or strong bolivar - is trading at 300.72 per dollar on the black market, according to dolartoday.com, the rate tracking website that has become the unofficial reference for checking the Venezuelan currency.

That is almost 48 times the main government set rate of 6.3 bolivars per dollar. The country has four exchange rates, three official ones and the black market.

Venezuela's economy is forecast to shrink by 7 per cent this year. Just like the critical state of the economy, the depreciation of the bolívar is gaining speed. Seven months ago, the US dollar fetched 100 bolívares fuertes. Three months ago, a greenback was trading at 200.

Today in some corners, 100 bolívares, the highest note, is not even enough to buy a filled arepa - flatbread made of maize flour, the national staple dish.

[Fred Sanders]

1. Those damn socialists, look what they have done for poverty. Bring back the Oligarths!

[Bacchus4.0]

2. Poverty hits 48.4% of households in Venezuela

http://www.eluniversal.com/economia/150130/poverty-hits-484-of-households-in-venezuela

[Bacchus4.0]

3. Monthly Salary of $20 Shows Why Venezuelans Wait in Food Lines

http://www.bloomberg.com/news/articles/2015-03-06/monthly-salary-of-20-shows-why-venezuelans-wait-in-food-lines

Way to go chavistas, dumbshits!!!

[Fred Sanders]

4. Pining for the days of despotic rule and economic apartheid by military, foreign corporations and

a handful of familia - those were surely the good old days, days the American Oligarchy envies.

Nationalizing and giving back all natural resources, including massive oil reserves, to the People must be stopped!

P.S. Venezuelans are not paid in and do not purchase goods with....dollars.

[Bacchus4.0]

5. and now its what? No staple foods and prodcuts in the markets, violence galore, corruption

$20/month what a joy chavismo is.

[ChangoLoa]

6. You do understand that you're only showing how the previous government managed better than chavismo

to lower the level of extreme poverty.

With a 10-15$ barrel...

If you actually think this is true, what is your conclusion?

[Fred Sanders]

7. The old plutocratic, dictatorial regimes never even tried to reduce poverty is the fact and the conclusion.

[hack89]

8. Incompentence can be just as bad for the poor as malice

the fact of the matter is that Venezuela is becoming a failed state with all the misery that comes with it.