Saturday, February 11, 2017

Black market of Venezuela and Life behind bolivar's blight


After some years to am knowing About Venezuela. Venezuela is the Latin American country, which is second list of large petroleum production country in the world.

 
I also get to know 22 times Venezuela won international beauty pageant Seven  Miss Universe crowns (1979 • 1981 • 1986 • 1996 • 2008 • 2009 • 2013) Six  Miss World crowns (1955 • 1981 • 1984 • 1991 • 1995 • 2011) Seven  Miss International crowns (1985 • 1997 • 2000 • 2003 • 2006 • 2010 • 2015) Two  Miss Earth crowns (2005 • 2013) , but what happening at this time in Venezuela ?  This question is the very serious for there, at this time there having a black market exchange of US dollar which is creating very serious problem of there's economy.there government fixed the under of 10 bolivar for one dollar but one dollar fetched 1,567 bolivars on November 1. On November 28, a dollar was worth 3,480 bolivars on the widely-used unofficial exchange rate.





Venezuela fully reopened its border with Colombia earlier this summer, allowing Venezuelans to go and exchange money to buy basic food and medicine. That drove up demand for dollars and more bolivars 

disappeared from circulation.
  
 Bolivar's blight behind  sky high food prices and political and humanitarian crisis this fall as the government stopped enforcing some price controls following a food scarcity. Many vendors had stopped selling food because the price controls was forcing them to sell at a loss. Now, with the price controls gone, there's food available on supermarket shelves, but at such exorbitant prices that few Venezuelans can afford.


Finally, the government cut the cash requirements at banks in Venezuela, which also helped juice the number of bolivars in circulation.
 
 
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