| 单词 | bolivar |
| 例句 | The populist government of Hugo Chávez is also happy with the program, pouring 540 million bolivars, about $64 million, a year into it. El Sistema, Venezuela?s Plan to Help Children Through Music 2012-02-15T23:42:27Z So public-sector employees, who are paid in local bolivars, are struggling. Music stars return to Venezuela after skipping it for years 2022-04-04T04:00:00Z For a time last year, workers could pull out of their pockets a dollar or two and maybe even some worthless bolivares, the local currency. Evolving crisis fuels anxiety among Venezuelans who want a better economy but see worsening woes 2023-10-13T04:00:00Z Over the past seven months, the bolivar has depreciated by a third compared with the U.S. dollar, according to analysts consulted by Reuters. Venezuela's bolivar weakens against the U.S. dollar as inflation rages 2023-08-03T04:00:00Z Falling dollar cash flows have led to a sharper depreciation of the bolivar currency since late last year. Venezuela need for dollars helped spark PDVSA graft probe -sources 2023-03-24T04:00:00Z Even Venezuelans who benefited from dollarization through remittances or salary payments are being hit by the higher prices, while those earning in bolivars have seen their meager earnings decline further. Venezuelans struggling to afford food - even if they have access to dollars 2023-03-07T05:00:00Z “Inflation is horrible. A candy is 3 bolivars. A candy!” A generation of Venezuelan children know only struggles 2023-03-05T05:00:00Z "This kind of financing has stopped being a business for banks. The bolivars that they can put toward credit are going to other sectors" like businesses. Venezuelans say credit cards that were once lifeline now 'useless' 2023-02-13T05:00:00Z Many shops, like Aray's ice-cream parlour, display prices in dollars above those in bolivars and prefer to trade in the US currency. Venezuela's slow economic recovery leaves poorest behind 2023-02-03T05:00:00Z But the strategy has shown cracks since November, sources have told Reuters, with prices rising quickly as the country's bolivar currency depreciates against the U.S. dollar. Venezuela's inflation slows to 234% in 2022, vice president says 2023-01-23T05:00:00Z "Whether you pay in bolivars or dollars it is not enough," Lochunga said, sitting in front of his stall. Venezuelans struggling to afford food - even if they have access to dollars 2023-03-07T05:00:00Z Valerie said in disbelief, recalling when it used to cost half a bolivar, Venezuela’s official yet worthless currency, which has effectively been replaced by the U.S. dollar. A generation of Venezuelan children know only struggles 2023-03-05T05:00:00Z Since November, the government has ramped up spending and demand for dollars has outstripped the central bank's foreign currency reserves, meanwhile the local bolivar currency has weakened further and impacted prices. Venezuela inflation accelerating, heightening risk of return to hyperinflation -economists 2023-01-05T05:00:00Z The transactions allowed privileged brokers to purchase dollar-denominated assets issued by Venezuela with bolivars at the overvalued official rate. Bribery trial tests US cases against Venezuela kleptocrats 2022-11-29T05:00:00Z One big problem is that most Venezuelans earn their salaries in bolivares, the national currency, and don’t have easy access to dollars. How the war in Ukraine has raised hopes in Venezuela and bolstered its strongman president 2022-11-14T05:00:00Z However, the rate of inflation rose again in August due to higher public spending and the depreciation of the local bolivar currency, countering government efforts to tame inflation by stabilizing the exchange rate, analysts said. Venezuela inflation accelerates to 8.2% m/m in August 2022-09-14T04:00:00Z “And before, a dollar cost about 5 or 7 bolivars. Now it is 23. I can’t buy anything anymore.” A generation of Venezuelan children know only struggles 2023-03-05T05:00:00Z "Venezuela's economy is facing the danger of a hyperinflationary outbreak, which is gaining strength with the sustained devaluation of the bolivar carried out by the central bank," the group said in a statement. Venezuela inflation accelerating, heightening risk of return to hyperinflation -economists 2023-01-05T05:00:00Z At the official exchange rate, bolivars have a significantly higher value than in the black market. Venezuela government again accuses ex-oil czar of wrongdoing 2022-09-01T04:00:00Z Maduro has taken steps to halt the country’s economic decline, chief among them ending strict foreign currency controls, leading to a de facto switch from the Venezuelan bolivar to the U.S. dollar. Venezuelan migration picks up, reaches about 6.8M 2022-08-31T04:00:00Z All also struggle with payment methods, in part due to the scarcity of bolivars. Ride-sharing apps rise in Venezuela as public transit decays 2022-07-30T04:00:00Z State employees, whose salaries are paid mainly in bolivars and only sporadically increased, are the most affected. In Venezuela, inflation and dollarization deepen schism between private and state employees 2022-05-09T04:00:00Z The government of President Nicolas Maduro has been making cuts to spending in the bolivar currency since the second half of last year in an effort to stabilize the bolivar-to-dollar exchange rate and reduce inflation. Venezuela February inflation was lowest since 2014 2022-03-05T05:00:00Z The documents included a letter approving a loan to the oil company in Venezuelan bolivars that was repaid in U.S. dollars and nearly 30 payment receipts. Venezuela government again accuses ex-oil czar of wrongdoing 2022-09-01T04:00:00Z And with dollars no longer frowned upon, some merchants don’t even bother giving prices in rapidly deteriorating bolivars anymore. Inflation, even in dollars, dims Venezuelans’ holiday season 2021-12-21T05:00:00Z Di Gregorio, 24, decided to paint on bolivar notes thrown away in the trash to restore some of the currency's former glory. Venezuelan artist brings new value to discarded banknotes 2021-11-12T05:00:00Z Meanwhile, pensioners receive the bolivar equivalent of a minimum wage - about $30 dollars a month. In Venezuela, inflation and dollarization deepen schism between private and state employees 2022-05-09T04:00:00Z Some teachers will remain absent for fear of getting sick or because of low salaries, she said, adding that the maximum monthly salary for her members is 118 bolivares, equivalent to $27. Millions of Venezuelan students return to school after COVID-19 closures 2021-10-25T04:00:00Z That came a decade after the late President Hugo Chavez subtracted three zeros from the bolivar with the promise of single-digit inflation, which was not achieved. Venezuela to subtract six zeros from currency, second overhaul in three years 2021-10-01T04:00:00Z Meanwhile, prices have been rising even faster than the bolivar has been falling against the dollar — so that the local currency, despite its rapid plunge, is paradoxically overvalued. Inflation, even in dollars, dims Venezuelans’ holiday season 2021-12-21T05:00:00Z The highest denomination until now was a 1 million bolivar bill that was worth a little less than a quarter as of Thursday. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z Currently, the 1 million bolivar note is the largest denomination. Hyperinflation, US dollars pricing out Venezuelan consumers 2021-08-11T04:00:00Z The new 100 bolivar bill will be the highest denomination. A million to 1: Venezuela’s currency losing 6 zeros 2021-08-05T04:00:00Z “Nobody is going to tell you ‘every night when we do the books, we convert bolivars into bitcoin,’ but yes, this is happening.” As Venezuela's economy regresses, crypto fills the gaps 2021-06-22T04:00:00Z Prices rise faster than the pace at which people can change dollars into bolivars, he said. Inflation, even in dollars, dims Venezuelans’ holiday season 2021-12-21T05:00:00Z The new currency tops out at 100 bolivars, a little less than $25 — until inflation starts to eat away at that as well. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z The same market basket and public transportation costs for a family of five eat up at least 174 minimum wages — about 1.2 billion bolivars. Hyperinflation, US dollars pricing out Venezuelan consumers 2021-08-11T04:00:00Z The 1 million bolivar bill is currently the highest denomination, but it is scarce. A million to 1: Venezuela’s currency losing 6 zeros 2021-08-05T04:00:00Z Merchants prefer receiving larger bills - the central bank in March said it was issuing a 1 million bolivar note - to avoid handling large handfuls of cash. Venezuelans in mining town loot stores that refuse to accept cash 2021-05-25T04:00:00Z Her Christmas bonus — paid in bolivars — this year was about $13, which she spent on her prepaid cellphone service and a few vegetables. Inflation, even in dollars, dims Venezuelans’ holiday season 2021-12-21T05:00:00Z The million-to-1 change for the bolivar is intended to ease both cash transactions and bookkeeping calculations in bolivars that now require juggling almost endless strings of zeros. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z A cup of coffee with milk sets you back some 4.2m bolivars and many businesses now only accept US dollars. UN to provide food to Venezuela children amid crisis 2021-04-20T04:00:00Z In a sign of worsening cash shortages, the central bank on March 5 announced it would begin to issue bills worth 1 million bolivars each. Maduro seeks to speed up digital payments as Venezuela runs out of cash 2021-03-15T04:00:00Z Agents demanded he confess to operating a website that published the black-market exchange rate of Venezuela’s erratic bolivar for U.S. dollars, something the socialist government considered a crime. AP Exclusive: Man recounts torture in Maduro’s Venezuela 2021-02-10T05:00:00Z “It is a challenge, but it is better if they pay in dollars and not in bolivars, which lose value.” Dollar's growing dominance in Venezuela leaves locals 'short-changed' 2020-12-31T05:00:00Z Banks allowed customers to withdraw a maximum of 20 million bolivars in cash per day, or sometimes less if the branch was running short. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z The International Monetary Fund projects a 25% decline this year in Venezuela’s GDP, while hyperinflation diminishes the value of its currency, the bolivar. Venezuela’s Maduro seeks to tighten his grip via election 2020-12-04T05:00:00Z In the absence of bolivars, many public transit users are turning to U.S. dollars to pay fares. Maduro seeks to speed up digital payments as Venezuela runs out of cash 2021-03-15T04:00:00Z Hyperinflation is rampant, rendering the currency, the bolivar, practically useless, while food shortages are a daily reality. 'Get me back to Caracas': desperate Venezuelans leave lockdown Bogotá 2020-07-04T04:00:00Z Vendors sometimes lose customers if there is no change, while others allow most of a purchase to be paid in dollars, with the remainder in bolivars. Dollar's growing dominance in Venezuela leaves locals 'short-changed' 2020-12-31T05:00:00Z When Venezuela’s Central Bank announced the currency change last month, officials said payment systems will be modernized to expand digital use of the bolivar. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z The report says Cordero uses about 70 notes of 100 bolivares to handcraft a small coin purse or at least 100 notes to weave a larger wallet. Venezuela’s currency so worthless it’s mostly being used for making crafts 2019-12-26T05:00:00Z By some estimates, there are three times as many dollars in circulation as bolivars, creating a de facto dollarization of the economy that is stabilizing inflation. Christmas in Caracas: Socialist Venezuela flirts with the free market 2019-12-23T05:00:00Z Reuters found 120 new such stores in Caracas alone, primarily in middle class areas, outnumbering the 27 bolivar supermarkets in those areas. Costco in Caracas: how Florida goods flood Venezuelan stores 2019-12-16T05:00:00Z The smallest bill in circulation, 50 bolivars, is worth about quarter of a U.S. penny. Venezuelans buy gas with cigarettes to battle inflation 2019-10-22T04:00:00Z The bolivar “will not be worth more or less; it is only to facilitate its use on a simpler monetary scale,” according to a Central Bank statement. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z They need 40,000 bolivars, the equivalent of about $3, in order to do the simple test at a nearby laboratory. Venezuela crisis pushes women into ‘forced motherhood’ 2019-08-21T04:00:00Z The family’s mother expressed her distress regarding their safety, specifically with health insurance companies, as they cannot secure coverage if this is paid with bolivars. Three Venezuelan families – a photo essay 2019-06-03T04:00:00Z Soaring inflation topped 1 million percent last year, making the local bolivar nearly useless even though ATM machines have been unable to dispense more than a dollar’s worth of scrip anyway. In Venezuela, criminals feel the pinch of an economic crisis 2019-05-27T04:00:00Z Bartering at the pump has taken off as hyperinflation makes Venezuela’s paper currency, the bolivar, hard to find and renders some denominations all but worthless, so that nobody will accept them. Venezuelans buy gas with cigarettes to battle inflation 2019-10-22T04:00:00Z Ahead of the change, some stores already had begun to display three prices for each product, in U.S. dollars as well as new and old bolivars. Venezuela introduces new currency with 6 fewer zeros 2021-09-30T04:00:00Z "A pistol used to cost one of these bills," he said, crumbling up a 10 bolivar bill that can no longer be used to buy a single cigarette. In Venezuela, criminals feel the pinch of an economic crisis 2019-05-28T04:00:00Z He said in January: “The difficulty in obtaining foreign currency is what has affected us the most. In October, the black market dollar equalled 90 bolivars and is now at 2,500 bolivars.” Three Venezuelan families – a photo essay 2019-06-03T04:00:00Z “A pistol used to cost one of these bills,” he said, crumbling up a 10 bolivar bill that can no longer be used to buy a single cigarette. In Venezuela, criminals feel the pinch of an economic crisis 2019-05-27T04:00:00Z The colorful bolivars were, finally, the most tangible manifestation of an exodus that is nearly as big as the one from Syria, with more 3.5 million hitting the road. Perspective | When money in Venezuela stopped functioning as currency, this photographer turned it into art 2019-05-24T04:00:00Z As a result, many are turning to digital assets such as Bitcoin as an alternative to the Venezuelan bolivar. Why are Venezuelans seeking refuge in crypto-currencies? 2019-03-18T04:00:00Z Soaring inflation topped 1 million percent last year, making the local bolivar nearly useless even though ATM machines have been unable to dispense more than a dollar's worth of scrip anyway. In Venezuela, criminals feel the pinch of an economic crisis 2019-05-28T04:00:00Z The minimum wage in Venezuela of 18,000 bolivars is equivalent to less than six dollars at the official rate. In Venezuela, not even the dollar is immune to effects of... 2019-03-14T04:00:00Z In 2003 Chávez pegged the bolivar, the national currency, to the US dollar. Panama Papers ‘tightened the noose’ on offshore assets of Maduro’s inner circle 2019-02-18T05:00:00Z Forced to meet interest payments on the few remaining loans and bonds the government hasn’t yet defaulted on, the Maduro administration must finance its huge budget deficit by printing even more bolivars, further accelerating prices. Socialist Maduro seeks to raise dollars with appeal to greed 2019-02-10T05:00:00Z But day-to-day acquisitions are inevitably paid for in bolivars, via debit cards. Not worth a bolivar: Life in cash-starved Venezuela 2019-02-07T05:00:00Z The price: About 2,100 bolivars, the equivalent of about 66 U.S. cents. Food isn’t just a dire need in Venezuela — it has become a major political tool 2019-02-05T05:00:00Z A woman who identified herself as Josefina arrived at one of the protest points in Caracas holding a thick wad of bolivar bills. Opposition protesters fill streets of Venezuelan capital 2019-01-30T05:00:00Z A woman who identified herself as Josefina arrived at one of the protest points in Caracas holding a thick wad of bolivar bills. Opposition protesters fill streets of Venezuelan capital 2019-01-30T05:00:00Z Currently, it takes four days — an eternity in today’s Venezuela — for the bolivars purchased at state-regulated exchange houses to be deposited into a person’s account. Socialist Maduro seeks to raise dollars with appeal to greed 2019-02-10T05:00:00Z Because of the paucity of cash, daily bank withdrawals are now generally limited to between 500 and 2,000 bolivars — about 17 to 66 cents. Not worth a bolivar: Life in cash-starved Venezuela 2019-02-07T05:00:00Z The new currency platform, called Interbanex, began operations on Monday, selling dollars at 3,200 bolivars, it said on Twitter. Venezuela approves parallel currency exchange system amid political... 2019-01-28T05:00:00Z “It doesn’t matter if you earn bolivars or dollars, it’s not enough.” Venezuela street clashes and military unrest pile pressure on Maduro 2019-01-22T05:00:00Z On a recent day, retired construction worker Oscar Martínez said he spent more than seven hours in a bank line trying to withdraw the equivalent of 30 U.S. cents in the beleaguered bolivar currency. Venezuelan Leader Starts Second Term With Grim Outlook 2019-01-10T05:00:00Z The wage increase brings the monthly pay most Venezuelan workers bring home to 4,500 bolivars. Nicolas Maduro likens Donald Trump to Adolf Hitler 2018-11-29T05:00:00Z The boost brings the monthly pay most Venezuelan workers bring home to 4,500 bolivars. Venezuela’s President Maduro boosts minimum wage 150 percent 2018-11-29T05:00:00Z According to statistics website Coin Dance, the weekly trade of bitcoins in bolivars grew 58-fold since the beginning of this year, as people searched for new ways to store value amidst growing inflation. Gold, rabbits and crypto: Venezuela's economic plans 2018-10-02T04:00:00Z But many economists predict it’ll collapse as the government prints bolivars to fund a deficit estimated at over 20 percent of gross domestic product. Maduro buys gold to boost savings amid five-digit inflation 2018-09-03T04:00:00Z Maduro added to the confusion this month by announcing that salaries, pensions and the exchange rate for Venezuela’s decimated currency, the bolivar, are now pegged to the petro. Special Report: In Venezuela, new cryptocurrency is nowhere to be... 2018-08-30T04:00:00Z "I just withdrew 10 bolivars from here," another customer told me. Week 1: Life as a Venezuela correspondent 2018-08-24T04:00:00Z Prosecutors say the embezzled funds involved in Krull’s plea deal were generated by a 2014 loan that the oil company obtained in local bolivars from a Venezuelan shell company. Maduro’s stepsons face scrutiny in $1.2 billion graft case 2018-08-24T04:00:00Z It is Venezuela's government, not international markets, that stipulates the price of gold in sovereign bolivars. Gold, rabbits and crypto: Venezuela's economic plans 2018-10-02T04:00:00Z According to court documents in the Krull case, the conspiracy involved the use of Venezuela’s two-tiered currency-exchange system in which dollars bought far more bolivars on the black market than at the official government rate. Ex-Banker Pleads Guilty in Venezuela Money-Laundering Case 2018-08-23T04:00:00Z With small items like a cup of coffee costing a whopping 2.5m bolivars until recently, it also became increasingly difficult to pay for goods in cash. Venezuela crisis: A country in freefall 2018-08-22T04:00:00Z "Cheese used to cost 600 bolivars a kilo," one woman told me. Week 1: Life as a Venezuela correspondent 2018-08-24T04:00:00Z When she can’t afford to buy supplies, she sells her arepas to workers at a nearby slaughterhouse to earn extra bolivars. Walking to work and cutting back on meals: Life in the time of hyperinflation in Venezuela 2018-08-22T04:00:00Z Thousands of businesses closed in order to adapt to the "sovereign bolivar", and many workers stayed at home. Venezuela 'paralysed' by new currency 2018-08-21T04:00:00Z The black market still yields as much as twice the amount of bolivars for each dollar compared with the official rate. Ex-Banker Pleads Guilty in Venezuela Money-Laundering Case 2018-08-23T04:00:00Z Until the currency's redenomination on 20 August, Venezuelans needed 25 of their highest denomination notes - the 100,000 bolivar bill - to pay for their caffeine fix. Venezuela crisis: A country in freefall 2018-08-22T04:00:00Z This particular purchase cost 14 million bolivars in Venezuela last week, according to the Reuters photographer who took the image. Can Venezuela halt hyperinflation? 2018-08-21T04:00:00Z On Tuesday, new bolivars were introduced in Venezuela, a move that Maduro said would help stabilize an economy that is in its fourth year of recession. Walking to work and cutting back on meals: Life in the time of hyperinflation in Venezuela 2018-08-22T04:00:00Z The new currency lops five zeroes off the old "strong bolivar" - meaning a cup of coffee worth 2.5m strong bolivars in the capital Caracas last month now costs 25 sovereign bolivars. Venezuela 'paralysed' by new currency 2018-08-21T04:00:00Z From Monday, new banknotes denominated in "sovereign bolivars" are legal tender. Venezuelans flee to Brazil despite attacks 2018-08-20T04:00:00Z It also began circulating eight new banknotes worth 2, 5, 10, 20, 50, 100, 200 and 500 sovereign bolivars and two new coins. Venezuela crisis: A country in freefall 2018-08-22T04:00:00Z The “new” bolivar is the same as the previous one — but minus five zeros. As the economy tanks and workers flee, Venezuela tries to restart a desperate country 2018-08-20T04:00:00Z The new bills are the same as old bolivars, except with five fewer zeros. Walking to work and cutting back on meals: Life in the time of hyperinflation in Venezuela 2018-08-22T04:00:00Z However, people in Caracas told the BBC they were restricted to withdrawing only 10 sovereign bolivars on Tuesday from cash machines. Venezuela 'paralysed' by new currency 2018-08-21T04:00:00Z From Monday, new banknotes denominated in "sovereign bolivars" are legal tender, with five zeros taken off. Confusion over Venezuela's economic plan 2018-08-20T04:00:00Z At one point, the dollar was trading for 6.5m bolivars. Venezuela crisis: A country in freefall 2018-08-22T04:00:00Z The nation’s currency — the bolivar — will be devalued, sales taxes increased and minimum wages hiked more than 3,500%, drastic adjustments that President Nicolas Maduro said he hoped would jump-start the economy. As the economy tanks and workers flee, Venezuela tries to restart a desperate country 2018-08-20T04:00:00Z On Tuesday, informal currency exchanges quoted the new Venezuelan bolivar as being worth nearly 6 million of the old bolivars. Walking to work and cutting back on meals: Life in the time of hyperinflation in Venezuela 2018-08-22T04:00:00Z President Maduro also said the sovereign bolivar would be tied to the petro, a virtual currency the government says is linked to Venezuela's oil reserves. Venezuela 'paralysed' by new currency 2018-08-21T04:00:00Z Most old bolivar notes will continue to circulate "for a time", Venezuelan Central Bank President Calixto Ortega announced. Confusion over Venezuela's economic plan 2018-08-20T04:00:00Z For a packet of sanitary pads you need 3,500,000 bolivars. Venezuelan bolivar - what can it get you? 2018-08-20T04:00:00Z “A minimum wage of 180 million bolivars in this current situation implies the closure of thousands of companies and the unemployment of many people,” said economist Luis Oliveros. Venezuelan shopkeepers alarmed by Maduro's latest economic moves 2018-08-18T04:00:00Z A $100 purchase of bolivars then would now be worth just less than a single U.S. cent. Venezuela's Constituent Assembly legalizes money exchanges 2018-08-02T04:00:00Z Ticket prices are fixed by the government in the local bolivar currency while replacement parts must be purchased abroad in dollars. Venezuela's domestic airline industry suffers amid economic crisis 2018-07-06T04:00:00Z On 31 July cafes in the capital, Caracas, charged 2.5m strong bolivars for a cup, about double the amount recorded five weeks earlier. Confusion over Venezuela's economic plan 2018-08-20T04:00:00Z A kilogram of cheese is pictured next to 7,500,000 bolivars. Venezuelan bolivar - what can it get you? 2018-08-20T04:00:00Z In the hillside Caracas slum of La Vega, home to 124,000 people, Alfredo Silva offers a haircut for 1 million bolivars, about 30 cents at the black market exchange rate. Fish for flour? Barter is the new currency in collapsing Venezuela 2018-07-03T04:00:00Z He also said that workers would receive 2.2m bolivares in meal tickets, Venezuela deploys soldiers to markets 2018-06-21T04:00:00Z With the bolivar depreciating rapidly, airlines are left unable to afford the parts needed to keep up maintenance, Alvarez said. Venezuela's domestic airline industry suffers amid economic crisis 2018-07-06T04:00:00Z Under the new system, the drink will now cost 25 sovereign bolivars. Confusion over Venezuela's economic plan 2018-08-20T04:00:00Z The boost brings the monthly pay most Venezuelan workers bring home to little more than 5 million bolivars. Venezuela president boosts minimum wage as inflation soars 2018-06-20T04:00:00Z On Mother’s Day, for example, some 5 million women received 1.5 million bolivars, enough to buy a coveted carton of 30 eggs. Maduro's tweeters, activists cash in on Venezuela election win 2018-05-25T04:00:00Z At 1.4 million bolivars each, they are worth what she earns in a month working as a nurse. Venezuelans buy bus tickets out after Maduro wins re-election 2018-05-22T04:00:00Z The bolivar currency is down 99 percent over the past year and inflation is at an annual 14,000 percent, according to the National Assembly. After re-election, Venezuela's Maduro faces overseas condemnation 2018-05-21T04:00:00Z The biggest denomination in the old currency was the 100,000 strong bolivar note. Confusion over Venezuela's economic plan 2018-08-20T04:00:00Z By June 2, under Maduro’s plan, new bolivars with lower denominations would be circulated — but old ones, with denominations as high as 100,000, would remain valid. Analysis | Venezuela hopes to tackle the world’s worst inflation by deleting zeros from its currency 2018-03-23T04:00:00Z Despairing of finding work, some entrepreneurial migrants turn the nearly-worthless bolivar currency into crafts, weaving handbags from the bills and selling them in Maicao’s park. 'Migrate or die': Venezuelans flood into Colombia despite crackdown 2018-02-26T05:00:00Z Venezuelan president Nicolás Maduro’s intention is that the new digital coin will boost the Venezuelan economy and be an alternative national currency to the bolivar, as stated on the virtual coin’s website. Venezuela’s own oil-backed cryptocurrency is available for presale today 2018-02-20T05:00:00Z The rate being abandoned was set at 10 bolivars per dollar. Venezuela drops overvalued exchange rate for state imports 2018-01-30T05:00:00Z Some of the exchanges would work with bolivars, Venezuela’s collapsing local currency, while others would exchange other cryptocurrencies for the petro, said an adviser. Advisers urge deep discount in Venezuelan cryptocurrency offering 2018-01-16T05:00:00Z It would leave vendors charging two prices — one for old bills, the other for the redenominated bolivar. Analysis | Venezuela hopes to tackle the world’s worst inflation by deleting zeros from its currency 2018-03-23T04:00:00Z Despairing of finding work, some entrepreneurial migrants turn the nearly-worthless bolivar currency into crafts, weaving handbags from the bills and selling them in Maicao’s park. 'Migrate or die': Venezuelans flood into Colombia despite crackdown 2018-02-26T05:00:00Z But there remains no way to exchange petro for those physical assets it’s allegedly backed by nor for the Venezuelan bolivar. Venezuela’s own oil-backed cryptocurrency is available for presale today 2018-02-20T05:00:00Z He holds up a thick wad of bolivars— the nearly worthless currency of his crisis-wracked homeland — and then asks for a small donation in exchange for each 100-bolivar note. Venezuelans abroad panhandle with their useless cash 2017-12-27T05:00:00Z Some of the exchanges would work with bolivars, Venezuela’s collapsing local currency, while others would exchange other cryptocurrencies for the petro, said an adviser. Advisers urge deep discount in Venezuelan cryptocurrency offering 2018-01-16T05:00:00Z Economists say simply chopping zeros off the bolivar notes is unlikely to halt hyperinflation, since the government would still be printing reams of cash. Analysis | Venezuela hopes to tackle the world’s worst inflation by deleting zeros from its currency 2018-03-23T04:00:00Z On Venezuela’s borders with Brazil and Colombia, the prices of imported oil, eggs and wheat flour vary daily in line with the black market price for bolivars. Venezuelans scramble to survive as merchants demand dollars 2017-12-26T05:00:00Z Prices are roughly half those in Colombian stores due to Venezuela’s depreciated bolivar currency. Desperate Venezuelans peddle wares door-to-door in Colombia to survive 2017-12-20T05:00:00Z Eager to find work abroad, Gutierrez, 32, arrived in October with his wife, baby daughter, and a backpack crammed with 2 million bolivars that he saved up. Venezuelans abroad panhandle with their useless cash 2017-12-27T05:00:00Z One honeycomb is worth about 5,000 bolivars, or 5 U.S. cents on the commonly used black market. Poor Venezuelan neighbors find solution to cash crunch 2017-12-15T05:00:00Z Both poor Venezuelan retirees and wealthy business leaders are converting their bolivars into bitcoins online and then using the digital currency to pay for everything from doctor appointments and honeymoons to motorcycles and artisanal beer. Venezuelans seeing bitcoin boom as survival, not speculation 2017-12-13T05:00:00Z In one grim festive joke, a Christmas tree in Maracaibo, the country’s oil capital and second city, was decorated with virtually worthless low-denomination bolivar bills. Venezuelans scramble to survive as merchants demand dollars 2017-12-26T05:00:00Z Prices are roughly half those in Colombian stores due to Venezuela’s depreciated bolivar currency. Desperate Venezuelans peddle wares door-to-door in Colombia to survive 2017-12-20T05:00:00Z Cryptocurrencies rely on confidence in clear rules and equal treatment of all involved, three experts said, adding that Venezuela is widely seen as flouting basic property rights and mismanaging its existing bolivar currency. Maduro's cryptocurrency to fare no better than Venezuela itself 2017-12-05T05:00:00Z He, like many expatriates, sends money home using an underground network of Venezuelans with U.S. bank accounts who trade dollars for bolivars at the black market rate. To combat hunger, Venezuelans in the U.S. ship food to relatives 2017-10-22T04:00:00Z Dollars remain the go-to currency for many Venezuelans seeking to get rid of bolivars, but getting ahold of them can be difficult and generally requires a black market broker. Venezuelans seeing bitcoin boom as survival, not speculation 2017-12-13T05:00:00Z On Venezuela’s borders with Brazil and Colombia, the prices of imported oil, eggs and wheat flour vary daily in line with the black market price for bolivars. Venezuelans scramble to survive as merchants demand dollars 2017-12-26T05:00:00Z Airline companies have been attempting for years to change the local bolivar currency it receives when it sells tickets in Venezuela into dollars. Argentine Airlines leaves Venezuela 2017-10-08T04:00:00Z Cryptocurrencies rely on confidence in clear rules and equal treatment of all involved, three experts said, adding that Venezuela is widely seen as flouting basic property rights and mismanaging its existing bolivar currency. Maduro's cryptocurrency to fare no better than Venezuela itself 2017-12-05T05:00:00Z Troubling shortfalls of Venezuelan bolivars are forcing many in this distressed South American nation to form long lines outside banks several times a week to withdraw what little cash is available. Ham for a watch: Venezuelans struggle with cash shortages 2017-10-06T04:00:00Z As Venezuela’s national currency loses value at a catastrophic rate, thousands have begun turning to the world of cryptocurrency to salvage what little value remains from their increasingly worthless bolivars. Venezuelans seeing bitcoin boom as survival, not speculation 2017-12-13T05:00:00Z In one grim festive joke, a Christmas tree in Maracaibo, the country’s oil capital and second city, was decorated with virtually worthless low-denomination bolivar bills. Venezuelans scramble to survive as merchants demand dollars 2017-12-26T05:00:00Z But he still collects a quarter of his weekly salary of 50,000 bolivars, the equivalent of just $1.70 at the widely used black-market exchange rate. Awaiting better days, multinationals keep Venezuela units alive - barely 2017-10-06T04:00:00Z But Venezuela's triple-digit inflation means their savings in Venezuelan bolivares are worthless once converted into Colombian pesos, so many get stuck. Venezuelans cross into Colombia as crisis deepens 2017-09-27T04:00:00Z Venezuelan Banking Superintendent Antonio Morales recently told Union Radio that bolivar notes leaving banking institutions are not being returned, as typically happens when cash shifts from customers to commercial businesses and back to banks. Ham for a watch: Venezuelans struggle with cash shortages 2017-10-06T04:00:00Z Mariana Leon, a crypto-economics consultant, said she has helped several companies in the sugar, chocolate and rum industries invest their bolivares in cryptocurrencies, keeping them in business even while other companies shuttered operations. Venezuelans seeing bitcoin boom as survival, not speculation 2017-12-13T05:00:00Z A kilogram of boneless breasts costs around 27,300 bolivars per kilogram — about 10 percent of the current monthly minimum wage. US sanctions to pile misery on moribund Venezuelan economy 2017-08-28T04:00:00Z But he still collects a quarter of his weekly salary of 50,000 bolivars, the equivalent of just $1.70 at the widely used black-market exchange rate. Awaiting better days, multinationals keep Venezuela units alive - barely 2017-10-06T04:00:00Z “Life has been totally derailed,” said Ricardo López, a lawyer whose son went to an international school until the crises shrank his salary – paid in bolivares – to far below the foreign currency tuition fees. Hunger eats away at Venezuela’s soul as its people struggle to survive 2017-08-26T04:00:00Z In September, Venezuelan authorities enacted stricter banking and business regulations in an attempt to stem the tide of bolivar bills. Ham for a watch: Venezuelans struggle with cash shortages 2017-10-06T04:00:00Z It’s still difficult to make many purchases in Venezuela with bitcoin, so people have to convert it into bolivars to buy food and other items. Venezuelans seeing bitcoin boom as survival, not speculation 2017-12-13T05:00:00Z On Thursday Venezuela's bolivar currency tumbled 18 percent in one day against the U.S. dollar on the black market. Venezuela restores opposition leader Ledezma's house arrest 2017-08-04T04:00:00Z He piles the cash up on the counter until there are 25 bundles, a jenga tower of bolivares. Crisis-hit Venezuelans leave for Brazil in search of new life - BBC News 2017-07-18T04:00:00Z In his lengthy Sunday program, the Venezuelan president also announced a 60 percent increase in the minimum salary to 60,000 bolivars to take effect from Labor Day on Monday. Venezuela's Maduro sees local elections later in 2017 2017-04-30T04:00:00Z The new denominations range from 500 to 20,000 bolivars in value and will supersede the 100-bolivar — currently worth about three U.S. cents on the black market — as the highest in circulation, the BBC reports. Venezuela Introduces 3 New Banknotes in Response to Soaring Inflation 2017-01-18T05:00:00Z Mr Maduro said he was postponing until 20 February the decision to withdraw from circulation the country's most common banknote, the 100 bolivars. Venezuela: Opposition attacks Maduro over Supreme Court address - BBC News 2017-01-15T05:00:00Z On Thursday Venezuela's bolivar currency tumbled 18 percent in one day against the U.S. dollar on the black market. Venezuela restores opposition leader Ledezma's house arrest 2017-08-04T04:00:00Z With the value of the bolivar at a record low, his 1.25m bolivares will get him just 14 sacks of sugar here in Brazil. Crisis-hit Venezuelans leave for Brazil in search of new life - BBC News 2017-07-18T04:00:00Z Venezuelan shoppers crowd Pacaraima’s main street carrying plastic bags stuffed with their rapidly depreciating bolivars, looking for the best prices on 50-pound sacks of rice they can haul back across the border. Hungry Venezuelans flood Brazilian towns, as threat of mass migration looms 2017-01-01T05:00:00Z Toward the end of the year, the bolivar weakened some 60 percent to more than 4,000 to the dollar on the black market. Venezuela’s exclusion from trade summit underscores growing isolation in Latin America 2016-12-29T05:00:00Z Mr Maduro then decided to delay the deadline to scrap the 100 bolivar note. Venezuela: President Maduro extends money swap deadline - BBC News 2016-12-29T05:00:00Z Although the bolivar recovered some of its value at the exchange houses this week, economists said the decree is ravaging an already frail economy. The latest hardship in Venezuela: a shortage of cash 2016-12-22T05:00:00Z By eliminating the 100-bolivar note and closing and heavily militarizing the Venezuelan border in order to prevent the re-entry of bolivars from Colombia and Brazil, Mr. Maduro is hitting the currency traders. The Dictator Who Stole Christmas 2016-12-18T05:00:00Z The black market bolivar dropped significantly from over 4,000 bolivars to the dollar to 2,500 at the weekend. Chaos in Venezuela as Nicolas Maduro flip-flops on currency withdrawal 2016-12-18T05:00:00Z The socialist leader pulled the 100 bolivar note this week before new bills were in circulation, creating a national cash shortage on top of the brutal economic crisis overshadowing Venezuelans' Christmas and New Year holidays. Hundreds arrested in Venezuela cash chaos, vigilantes protect shops 2016-12-18T05:00:00Z A thousand notes in each stack, 200,000 bolivars in total. Why you need sackfuls of banknotes to shop in Venezuela - BBC News 2016-12-17T05:00:00Z Maduro, however, said opponents were stirring violence and justified the 100 bolivar measure as a way of strangling mafia and smugglers on the border with Colombia. Venezuelans defy Colombia border ban, unrest continues 2016-12-17T05:00:00Z The official rate for the bolivar is 10 to the dollar. The Dictator Who Stole Christmas 2016-12-18T05:00:00Z Then Maduro decreed on 11 December that the 100 bolivar bill would be pulled from circulation in 72 hours. Chaos in Venezuela as Nicolas Maduro flip-flops on currency withdrawal 2016-12-18T05:00:00Z The government is introducing larger bills of up to 20,000 bolivars. Hundreds arrested in Venezuela cash chaos, vigilantes protect shops 2016-12-18T05:00:00Z In October, there were 1,500 bolivars to the dollar. Why you need sackfuls of banknotes to shop in Venezuela - BBC News 2016-12-17T05:00:00Z The unrest began on Friday following this week's surprise pulling from circulation of Venezuela's largest denomination note, 100 bolivars, before replacement bills were available. Venezuelans defy Colombia border ban, unrest continues 2016-12-17T05:00:00Z Yet replacing one devalued note with a much larger denomination won’t end the currency trading business in Colombia or stop the slide of the bolivar. The Dictator Who Stole Christmas 2016-12-18T05:00:00Z After millions of Venezuelans scrambled to turn in their soon-to-be-worthless cash, they were meant to be able to withdraw newly printed notes of higher denomination ranging from 500 to 20,000 bolivars. Chaos in Venezuela as Nicolas Maduro flip-flops on currency withdrawal 2016-12-18T05:00:00Z Maduro blames the crisis on an "economic war" waged against his government to weaken the bolivar currency and unseat him. Pockets of protests, looting in Venezuela as cash dries up 2016-12-16T05:00:00Z He says the closure is needed to thwart smugglers who hoard bolivars in Colombia. Venezuelans scramble as most-used banknote becomes void 2016-12-16T05:00:00Z Accused by critics of taking a nonsensical and rushed measure, Maduro, 54, justified it as an attempt to outwit international mafias, especially on the Colombian border, hoarding bolivars for contraband. Venezuelans rush to ditch 100-bolivar bills after president's sudden ban 2016-12-13T05:00:00Z Websites collect and post the price of the plummeting bolivar traded by the exchange houses. The Dictator Who Stole Christmas 2016-12-18T05:00:00Z The following day, Maduro abruptly announced a stay of execution for the the 100 bolivar bills, blaming the same international conspiracy for delaying the planeloads of cash that were bringing the new notes. Chaos in Venezuela as Nicolas Maduro flip-flops on currency withdrawal 2016-12-18T05:00:00Z Outside the central bank in Caracas on Friday, thousands of Venezuelans queued up to swap their 100 bolivar bills before a final Tuesday deadline under the watch of National Guard soldiers. Pockets of protests, looting in Venezuela as cash dries up 2016-12-16T05:00:00Z He closed the border with Colombia and Brazil until Thursday night to prevent stacks of bolivars from making it back to the country. Venezuelans Rush to Banks to Exchange Bills During Crackdown on Contraband 2016-12-13T05:00:00Z President Nicolás Maduro said outlawing the notes would destroy what he claims are Colombian smuggling mafias that hoard bolivars to buy price-controlled food and gasoline in Venezuela, which is then resold at a markup. Venezuela Yanks Bills From Circulation 2016-12-12T05:00:00Z Even the chavista governor of the border state of Táchira runs a general store supplied with Colombian goods, which means he sells bolivars and buys pesos. The Dictator Who Stole Christmas 2016-12-18T05:00:00Z He showed photos of stacks of bolivar bills but presented no further evidence. Venezuelans scramble to ditch largest bill ahead of surprise removal 2016-12-12T05:00:00Z One orange and avocado vendor offered to buy them up for 80 bolivars. Pockets of protests, looting in Venezuela as cash dries up 2016-12-16T05:00:00Z The president said new notes worth up to 20,000 bolivars will begin circulating as of Thursday. Venezuelans Rush to Banks to Exchange Bills During Crackdown on Contraband 2016-12-13T05:00:00Z The president of the central bank said last week that new higher-denomination notes of up to 20,000 bolivars would begin to circulate on Thursday. Venezuela Yanks Bills From Circulation 2016-12-12T05:00:00Z Many private companies have decamped to other countries because the government requires them to sell half of their catch for Venezuela’s virtually worthless currency, the bolivar. Pirates preying on Venezuelan fishermen as industry unravels 2016-12-07T05:00:00Z Currently the largest-denominated bill is 100 bolivars, not even enough to buy a hard candy at a street kiosk. Venezuela unveils 6 new bills amid galloping inflation 2016-12-07T05:00:00Z The central bank said six new bills ranging from 500 to 20,000 bolivars will begin circulating Dec. 15. World Digest: Dec. 4, 2016 2016-12-04T05:00:00Z Currently the largest note is 100 bolivars and worth about two US cents. Venezuela issues new banknotes after inflation - BBC News 2016-12-04T05:00:00Z The country’s largest bill, worth 100 bolivars or just 3 U.S. cents on the black market, is to become illegal, in a move designed to combat contraband along Venezuela’s borders, the government said. Venezuela Yanks Bills From Circulation 2016-12-12T05:00:00Z Strict currency controls introduced in 2003, which pegged the bolivar to the dollar, coupled with heavy reliance on oil, are seen as the root of the crisis by most economists. Venezuela to issue new bolivar banknotes after dramatic fall in value 2016-12-04T05:00:00Z DolarToday began as a Twitter feed that posted the black-market exchange rate for Venezuela’s currency, the bolivar. Venezuela’s Nemesis Is a Hardware Salesman at a Home Depot in Alabama 2016-11-20T05:00:00Z The currency lost 67 percent of its value on the black market last month, falling to 4,587 bolivars per U.S. dollar — the steepest monthly plunge on record, according to data by DolarToday. World Digest: Dec. 4, 2016 2016-12-04T05:00:00Z Currency controls—established by Chávez in 2003, in an effort to stop capital flight—fix the exchange rate of the bolivar, which is accepted nowhere outside Venezuela, and create a roaring black market for dollars. Venezuela, A Failing State 2016-11-06T04:00:00Z Mr. Maduro said Monday night he was closing the Colombian border until Thursday night to prevent stacks of bolivars from making it back to the country. Venezuela Yanks Bills From Circulation 2016-12-12T05:00:00Z The firms will deliver new notes going up to 20,000 bolivars in December. Inflation-Racked Venezuela Turns to Company Behind U.S. Dollars for New Bills 2016-10-31T04:00:00Z Colombia is the only country that accepts the nearly worthless bolivar. Venezuela’s Nemesis Is a Hardware Salesman at a Home Depot in Alabama 2016-11-20T05:00:00Z Starting Monday, formal employees will receive 90,000 bolivars a month, comprising their wage and a food supplement. Venezuelan Leader Nicolás Maduro Orders Big Boost to Minimum Wage 2016-10-27T04:00:00Z A dollar is worth about sixteen hundred bolivares at the moment. Venezuela, A Failing State 2016-11-06T04:00:00Z Private companies are also struggling as a result of the weak bolivar. Venezuela on the brink: a journey through a country in crisis 2016-10-11T04:00:00Z Crane will produce Venezuela’s new 500 and 1,000 bolivar notes. Inflation-Racked Venezuela Turns to Company Behind U.S. Dollars for New Bills 2016-10-31T04:00:00Z Those goods are among the few basics that remain affordable to ordinary Venezuelans who are paid in bolivares, the country’s increasingly worthless currency. In a hungry Venezuela, buying too much food can get you arrested 2016-09-14T04:00:00Z Members of Venezuela’s weightlifting federation receive a monthly state stipend of 2,000 bolivars for food. Rio 2016: Venezuela Is Very, Very Proud of Its Three Medals 2016-08-19T04:00:00Z It has been reported that high-denomination bills will be issued in December, but for now the largest Venezuelan note is still a hundred bolivares. Venezuela, A Failing State 2016-11-06T04:00:00Z Nor is it practical to treat the 100 bolivar bills with more care: they are worth barely more than the paper napkins stacked rather more attentively on the shelves. Venezuela on the brink: a journey through a country in crisis 2016-10-11T04:00:00Z Central bank officials say the 500 bolivar note may be replaced by a coin in the future. Inflation-Racked Venezuela Turns to Company Behind U.S. Dollars for New Bills 2016-10-31T04:00:00Z At the Alejandria market in central Cúcuta, Venezuelans carrying bricks of devalued bolivars lined up at currency exchanges to convert them for a few bills of Colombian pesos. Venezuelans Travel Miles to Shop in Colombia After Border Opens 2016-08-13T04:00:00Z While Colombia is flush with goods, it’s also expensive for Venezuelans who rely on their devalued bolivar currency. venezuela-colombia 2016-08-13T04:00:00Z Fluctuating exchange rates hurt the overall figure for sales, Sanofi said, citing the U.S. dollar and "persistent inability" to exchange the Venezuelan bolivar, which collapsed, for U.S. dollars. Sanofi profits down despite growth at Genzyme unit 2016-07-29T04:00:00Z Fluctuating exchange rates hurt the overall figure for sales, Sanofi said, citing the U.S. dollar and “persistent inability” to exchange the Venezuelan bolivar, which collapsed, for U.S. dollars. Sanofi profits down despite growth at Genzyme unit 2016-07-29T04:00:00Z And on the black market, one dollar costs Venezuelans more than 1,000 bolivars, according to currency website dolartoday.com. Venezuela roils corporate profits around the globe 2016-07-27T04:00:00Z Ms. Montes made some ham and cheese sandwiches and brought 20,000 bolivars, which is more than the monthly minimum wage in Venezuela but only worth about $20 U.S. dollars. Venezuelans Flood Into Colombian City to Buy Food and Medicine 2016-07-17T04:00:00Z The two Popular Will activists detained in June in the rural Cojedes state were charged with money laundering for carrying three million bolivars in cash, or about $4,500 at the weakest official exchange rate. Venezuela Detains Activists Calling for Maduro's Ouster, Group Says 2016-07-06T04:00:00Z "People started rejecting the two bolivar bills. I travel a lot by bus, and they wouldn't accept them. Not even for a cigarette. Nothing." Venezuelan protests economic crisis through currency art 2016-06-17T04:00:00Z That might not seem expensive to Americans or Europeans, but it is an astronomical price in Venezuela, given that the monthly minimum wage is 15,000 bolivars, or about $15. In Venezuela, life is undervalued, and death is overpriced 2016-06-14T04:00:00Z Her monthly pay, including a food allowance, is 27,000 bolivars. $150 for a dozen eggs? The price of inflation and shortages in Venezuela 2016-05-31T04:00:00Z That means it needs dollars just to be able to create bolivars. Venezuela should be rich. Instead it’s becoming a failed state. 2016-05-04T04:00:00Z The new increase will push the minimum wage to 15,051 bolivars a month. World Digest: May 1, 2016 2016-05-01T04:00:00Z The largest 100 bolivar note is worth just 10 cents on the black market and people often carry bags full of money for basic purchases. Venezuelan protests economic crisis through currency art 2016-06-17T04:00:00Z “The casket alone costs 100,000 bolivars. This is why people are choosing to bury their family members without offering a wake.” In Venezuela, life is undervalued, and death is overpriced 2016-06-14T04:00:00Z So she buys them from street vendors for around 1,500 bolivars -- a staggering $150 at the official exchange rate, or about $1.50 at the black market rate. $150 for a dozen eggs? The price of inflation and shortages in Venezuela 2016-05-31T04:00:00Z Many airlines have reduced routes in recent years saying they were collectively owed several billion dollars in revenue for tickets sold in the local bolivar currency. American Airlines to ax newly reinstated Caracas-New York route 2016-03-08T05:00:00Z Companies are required to sell products in bolivars but then struggle to convert them into hard currency through the government's currency board. Insight: Venezuela uses distressed bonds to settle debts with drugmakers 2016-03-07T05:00:00Z Inflation is expected to exceed 700% as a result of the debasement of its currency, the bolivar. Markets in 2016: The Year of the Pig 2016-02-24T05:00:00Z To organize a decent wake and burial, a family needs at least 400,000 bolivars — roughly $400 at the black-market exchange rate, which reflects the price of goods for most Venezuelans. In Venezuela, life is undervalued, and death is overpriced 2016-06-14T04:00:00Z Last week, the official price increased to 95 bolivars per pound. $150 for a dozen eggs? The price of inflation and shortages in Venezuela 2016-05-31T04:00:00Z Under strict currency controls, they were unable to exchange a lot of their bolivars for hard currency at favorable exchange rates. American Airlines to ax newly reinstated Caracas-New York route 2016-03-08T05:00:00Z The rate is the result of a devaluation last month from the previous rate of 6.3 bolivars. Insight: Venezuela uses distressed bonds to settle debts with drugmakers 2016-03-07T05:00:00Z Diesel will continue to cost just 0.048 bolivars per liter, or just under half a U.S. cent at the strongest official exchange and 0.0048 U.S. cents a liter at the black market rate. Venezuelan diesel price to stay put after gasoline hike: president 2016-02-20T05:00:00Z In a week of change, the Maduro government also announced a devaluation of the bolivar, the national currency, and a restructuring of the government-owned grocery chain. At 15 cents a gallon, it's the cheapest gas in the world -- yet Venezuela worries 2016-02-19T05:00:00Z "An average monthly Movistar plan costs 476 bolivars. Much less than a kilo of ham," the company said in a statement. Tough road for Venezuela after dire data, lacking measures 2016-02-18T05:00:00Z The weaker of the two rates will be a free float based on an existing system that currently sells dollars at about 200 bolivars, Maduro said. Venezuela president raises fuel price by 1,300% and devalues bolivar to tackle crisis 2016-02-17T05:00:00Z The black market rate is close to an extraordinary 1,100 bolivars to the U.S. dollar, valuing the Venezuelan currency at less than 1 percent of the official rate. Insight: Venezuela uses distressed bonds to settle debts with drugmakers 2016-03-07T05:00:00Z But instead of food and medicine, the planes carried another resource that often runs scarce here: bills of Venezuela’s currency, the bolivar. Inflation-Wrought Venezuela Orders Bank Notes by the Planeload 2016-02-03T05:00:00Z As in previous periods, Diageo said volatile currencies buffeted its performance, citing the weakness of the euro, the Venezuelan bolivar and the Brazilian real against sterling, partially offset by the strengthening of the dollar. Diageo Profit Rises Despite Drop in Sales 2016-01-28T05:00:00Z Investors believe other currencies, including the Egyptian pound, Nigerian naira and Venezuelan bolivar all may be at risk for devaluations, to various degrees. China Fears Rattle Hong Kong Dollar 2016-01-14T05:00:00Z A shortage of dollars allows a foreigner to sell greenbacks on the black market for 130 times more local bolivars than the official rate, giving them a Miss Venezuela beauty treatment on a Cinderella budget. Venezuela Currency Bust Fuels Plastic Surgery Boom Boom 2015-12-31T05:00:00Z Venezuela tries to use an official exchange rate of 10 bolivars to the dollar for priority goods such as food and medicine. Insight: Venezuela uses distressed bonds to settle debts with drugmakers 2016-03-07T05:00:00Z Currently there are three official rates, which range from 6.5 bolivars to the dollar to 200 bolivars to the dollar. Venezuela's opposition won the election – but the real difficulties still lie ahead 2015-12-15T05:00:00Z The government tries to tackle rising inflation with price controls; recently it fixed the price for a carton of 30 eggs at 420 bolivares. Venezuela: Economy on the brink? - BBC News 2015-12-03T05:00:00Z At the official exchange rate of 6.3 bolivars a dollar, Venezuelans appear to be earning a strong $1,500 a month. Venezuela’s Soaring Poverty Hurts Ruling Party’s Chances in Sunday’s Elections 2015-12-03T05:00:00Z “Last year my shoes cost 2,000 bolivars and this year they cost 18,000,” he shouted back at outraged customers. Baseball blues in Venezuela as economic chaos hits stadiums 2015-10-30T04:00:00Z They include holding a rapidly deteriorating currency or using a much weaker official exchange rate of 206 bolivars to the dollar. Insight: Venezuela uses distressed bonds to settle debts with drugmakers 2016-03-07T05:00:00Z A price-controlled chicken goes for 65 bolivars a pound. Venezuela's opposition won the election – but the real difficulties still lie ahead 2015-12-15T05:00:00Z One dollar will buy you 6.3 bolivares at the lowest official rate, while on the black market it will fetch a whopping 800 bolivares, according to the widely used website DolarToday.com website. Venezuela: Economy on the brink? - BBC News 2015-12-03T05:00:00Z "Last year my shoes cost 2,000 bolivars and this year they cost 18,000," he shouted back at outraged customers. Empty baseball stadiums, not enough beer as economic chaos hits Venezuela's national pastime 2015-10-30T04:00:00Z DolarToday tracks the black market value of the Venezuelan currency, the bolivar. Venezuela Central Bank sues US-based DolarToday website - BBC News 2015-10-23T04:00:00Z On Friday, the site was posting a value of 820 bolivars to the dollar, down from 790 bolivars to the dollar earlier in the week. Venezuela sues currency website over claims of cyberterrorism 2015-10-23T04:00:00Z The loan, for 17.9 billion bolivars, was to be repaid in dollars, the report says. U.S. Investigates Venezuelan Oil Giant 2015-10-22T04:00:00Z Those assets' value is currently based on an exchange rate of 12 Venezuelan bolivars per U.S. dollar. AT&T may take $1.1 billion charge on DirecTV's Venezuela assets 2015-09-29T04:00:00Z Since then, Venezuela, a major market for P&G, had undergone a widely known devaluation of its bolivar, as the company noted in a securities filing before the meeting. How Some Investors Get Special Access to Companies 2015-09-28T04:00:00Z It values the bolivar at a far lower rate than the official one. Venezuela Central Bank sues US-based DolarToday website - BBC News 2015-10-23T04:00:00Z Venezuela tightly controls the legal exchange of its currency, the bolivar, using a byzantine three-tier system meant to subsidize key imports with advantageous exchange rates. Venezuela sues currency website over claims of cyberterrorism 2015-10-23T04:00:00Z Meanwhile, most Venezuelans lack access to U.S. dollars, a shield against bolivar inflation, because of rigid foreign-exchange regulations. In Venezuela, Economists Improvise to Track Economy 2015-08-16T04:00:00Z AT&T said it may value the assets at the so-called Simadi exchange rate of about 200 bolivars per U.S. dollar, according to the filing. AT&T may take $1.1 billion charge on DirecTV's Venezuela assets 2015-09-29T04:00:00Z Previously, many U.S. companies valued their monetary and non-monetary assets at the most preferred rate of 6.3 bolivars to the dollar. Venezuela currency blues hit U.S. blue-chip companies 2015-07-30T04:00:00Z American and other international carriers have cut flights to the socialist-run nation, which required tickets be priced in the local bolivar currency and then made it difficult for the funds to be reconverted into dollars. American to resume Caracas-JFK route; currency dispute unresolved 2015-07-13T04:00:00Z The government says the site is publishing fake rates, intentionally driving the value of the bolivar down by creating the false impression the currency is bleeding value faster than it actually is. Venezuela sues currency website over claims of cyberterrorism 2015-10-23T04:00:00Z He paid 1,300 Colombian pesos, equivalent to about 130 bolivars on the black market. Shop frontiers: the rise of cross-border buying around the world 2015-07-02T04:00:00Z Many products are both absurdly cheap for those with hard currency using the black market to buy bolivars, and painfully expensive for the majority earning in the local currency. Venezuela chides Procter & Gamble over sanitary pad prices 2015-06-16T04:00:00Z Venezuela's largest denomination note is 100 bolivars - about 25 U.S. cents. 'Paradise for $20': hardy tourists enjoy Venezuela cash bonanza 2015-06-04T04:00:00Z A lovely little piece of digging by Steven Bodzin tells us that the Venezuelan mint is still producing these one bolivar coins. The Mystery of Venezuela's Missing Coins 2015-05-29T04:00:00Z Here’s a listing of the weights and compositions of those bolivar fuerte coins. Venezuela, Where Robbing A Bank Doesn't Make Money But Making Change At One Does 2015-05-27T04:00:00Z The official Venezuelan price for the product is 70 bolivars. Shop frontiers: the rise of cross-border buying around the world 2015-07-02T04:00:00Z Desperate, people are selling bolivars for a rate 60 times weaker than the strongest of country’s three official exchange rates. Businesses quietly switch to dollar in socialist Venezuela 2015-05-25T04:00:00Z The government is unable to meet demand at official exchange rates, which range from 6.3 to 200 bolivars per dollar, so the black market satisfies those prepared to pay a hefty premium. 'Paradise for $20': hardy tourists enjoy Venezuela cash bonanza 2015-06-04T04:00:00Z The evidence isn’t conclusive to be sure, but the mint is recording that the number of one bolivar coins in circulation went up by 8 million or so in one recent month. The Mystery of Venezuela's Missing Coins 2015-05-29T04:00:00Z Now, just a few months later, the bolivar is worth about half that much. Venezuela, Where Robbing A Bank Doesn't Make Money But Making Change At One Does 2015-05-27T04:00:00Z Desperate, people are selling bolivars for a rate 60 times weaker than the strongest of country's three official exchange rates. Businesses quietly switch to dollar in socialist Venezuela 2015-05-25T04:00:00Z Economy cars such as the Ford Fiesta will continue to be priced in local bolivar currency, he added, but suggested consumers may struggle to find those models. Ford Venezuela to sell pickups, SUVs in dollars: union 2015-05-13T04:00:00Z This contributed to widespread currency depreciation, with the Russian ruble falling almost 80% against the U.S. dollar and the bolivar sliding almost 88%. Diageo: Will A Rebound In Oil Prices Cause A Hangover? 2015-03-31T04:00:00Z Just to do the math here: there’s 125,000 one bolivar coins to a tonne, so 8 million coins is 64 tonnes of coins. The Mystery of Venezuela's Missing Coins 2015-05-29T04:00:00Z And the money value of one bolivar is 0.25 of a US cent. Venezuela, Where Robbing A Bank Doesn't Make Money But Making Change At One Does 2015-05-27T04:00:00Z The bolivar has fallen to a record low on the widely used black currency market and Maduro’s approval ratings are languishing in the low 20 percent range. US officials called ‘terrorists’ mock Venezuela travel ban 2015-03-01T05:00:00Z Venezuela’s currency, the bolivar, is overvalued and artificially propped up by an arcane system of currency controls. How Venezuela's Economic Crisis Hurts U.S. Companies 2015-02-18T05:00:00Z The new rate is more than three times an auction rate of about 52 bolivars that it replaced, representing a massive effective devaluation of about 70 percent. U.S. companies can avoid slow torture of Venezuela devaluations by taking one big hit 2015-02-17T05:00:00Z Here, in the Venezuelan example, the metals value of one bolivar is very much higher than one bolivar. The Mystery of Venezuela's Missing Coins 2015-05-29T04:00:00Z The smallest Venezuelan note is currently the 2 bolivar, this is worth around half of a US cent. Venezuela, Where Robbing A Bank Doesn't Make Money But Making Change At One Does 2015-05-27T04:00:00Z A massive effective devaluation of Venezuela's bolivar currency will likely badly dent 2015 earnings at a swath of major U.S. companies. Venezuela's currency devaluation set to further hurt U.S. companies' profits 2015-02-13T05:00:00Z The unofficial black market rate is close to 190, meaning any time Venezuela devalues its currency, assets currently accounted for at the 6.3 bolivar exchange rate see their value plunge. How Venezuela's Economic Crisis Hurts U.S. Companies 2015-02-18T05:00:00Z Changing from 52 to 174 bolivars would cut the dollar value of their assets by more than two thirds. U.S. companies can avoid slow torture of Venezuela devaluations by taking one big hit 2015-02-17T05:00:00Z If those one bolivar coins are being produced then they must be going somewhere. The Mystery of Venezuela's Missing Coins 2015-05-29T04:00:00Z The one bolivar coin is 8 grammes, meaning 125,000 to a tonne. Venezuela, Where Robbing A Bank Doesn't Make Money But Making Change At One Does 2015-05-27T04:00:00Z At the new exchange rate of about 170 bolivars to the dollar, the value of those assets would drop by 93 percent to just $421 million, according to a Reuters analysis of regulatory filings. Venezuela's currency devaluation set to further hurt U.S. companies' profits 2015-02-13T05:00:00Z The bolivar, like Venezuela’s economy, is trapped in a downward spiral. How Venezuela's Economic Crisis Hurts U.S. Companies 2015-02-18T05:00:00Z The new system that took effect Thursday aims to align the formal and informal exchange rates for the Venezuelan currency, the bolivar, that have been operating within the country. Venezuela Unrest Not Pushing Cuba Toward the U.S. 2015-02-13T05:00:00Z Pepsi pointed specifically to the negative impact of a stronger dollar, as well as significant volatility in the Russian ruble and Venezuelan bolivar. Pepsi Hindered By Stronger Dollar, But Tops Estimates 2015-02-11T05:00:00Z The black market rate, though, was at about 190 bolivars to the dollar on Sunday, according to the website dolartoday.com. U.S. companies face billions in Venezuela currency losses, Reuters analysis shows 2015-02-02T05:00:00Z Import controls, inflation and the overvalued bolivar are causing shortages of essential goods. The Impending Collapse Of Venezuela 2015-01-13T05:00:00Z On February 12 Maduro took the step of announcing a new exchange rate system, that allows bolivars to be exchanged for dollars at a rate that is closer to the unofficial, black market rate. How Venezuela's Economic Crisis Hurts U.S. Companies 2015-02-18T05:00:00Z Draining them to support the bolivar exposes Venezuela to the risk of external default – a risk now widely priced in. Why Does Venezuela Think Russia Is Its Friend? 2014-12-31T05:00:00Z Officially, one U.S. dollar buys 6.3 bolivars, according to the strongest of the three official exchange rates. How falling oil prices are turning up the heat on Venezuela's Maduro 2014-12-04T05:00:00Z A Ford spokeswoman said that it still values its Venezuela assets at about 12 bolivars per US dollar. U.S. companies face billions in Venezuela currency losses, Reuters analysis shows 2015-02-02T05:00:00Z But on the black market, where most of the money moves, a dollar is now worth 120 bolivars, double its value from earlier this year. Falling oil prices put Venezuela’s Nicolás Maduro in a vice The Marginal Currency System, or Simadi, is the third mechanism in the new three-tier exchange rate regime and allows for legal trading of the bolivar. How Venezuela's Economic Crisis Hurts U.S. Companies 2015-02-18T05:00:00Z Supporting the bolivar at too high a rate puts the government’s fiscal position at risk due to exchange valuation losses. Why Does Venezuela Think Russia Is Its Friend? 2014-12-31T05:00:00Z Perhaps the most telling sign of the country’s mismanaged economy is the black market exchange rate for the local bolivar currency, named, like Chávez’s political revolution, for the Latin American independence hero Simón Bolívar. How falling oil prices are turning up the heat on Venezuela's Maduro 2014-12-04T05:00:00Z They report some success in translating bolivars into dollars at the 6.3 rate. U.S. companies face billions in Venezuela currency losses, Reuters analysis shows 2015-02-02T05:00:00Z Then there’s a third rate meant for importers and other businesses that trades at 50 bolivars to the dollar. Falling oil prices put Venezuela’s Nicolás Maduro in a vice In stores, the detergent’s price was capped at the equivalent of about 60 cents, if using the government’s highest official exchange rate of 50 bolivars per dollar. With goods scarce in Caracas’s stores, street sales boom and officials glower Illegal gambling is driven by the government’s limit of 1,000 bolivars on bets, or about $10 at the black market rate. AP PHOTOS: Horse poisoning alarms Venezuela racing 2014-10-09T04:00:00Z “Venezuelans lined up to purchase airline tickets and TVs this weekend in a bid to protect themselves from price increases after ailing President Hugo Chavez devalued the bolivar for a fifth time in nine years.” Let's Fully Devalue the Devaluation Idea, Once and For All 2014-10-14T04:00:00Z The companies' bolivar assets would be worth only a tiny fraction of their current estimated value if they used that rate. U.S. companies face billions in Venezuela currency losses, Reuters analysis shows 2015-02-02T05:00:00Z One hope is that expatriates will use the exchange to send money home, selling bitcoins for bolivars. Venezuelans turn to bitcoins to bypass socialist currency controls 2014-10-08T04:00:00Z A limited amount of greenbacks are available to some bidders at 50 bolivars to the dollar. Venezuela's Maduro accuses airlines of waging 'economic war' 2014-09-30T04:00:00Z On currency black markets, the bolivar has slid to 90 to the dollar, more than 14 times its value under the country’s complicated multi-tiered exchange rate. Venezuela Doesn't Deserve a Seat on the U.N. Security Council 2014-09-15T04:00:00Z Venezuela requires airlines to sell tickets using the local bolivar currency. Lufthansa says to cut Venezuela flights amid forex dispute 2014-07-14T04:00:00Z Venezuela requires airlines to sell tickets using the local bolivar currency, but carriers say they are not receiving approval from the exchange control board to convert those earnings into dollars. United Airlines cuts Venezuela flights over currency 2014-07-11T04:00:00Z But Venezuela's own bolivar currency has dropped nearly 60 percent versus the dollar on the black market here in the last year. Venezuelans turn to bitcoins to bypass socialist currency controls 2014-10-08T04:00:00Z The dollar is trading at about 66-68 bolivars on the black market, according to illegal web sites that track it. Ford suspends vehicle assembly in Venezuela 2014-05-06T00:31:42Z Venezuela has devalued the bolivar several times in recent years. Venezuela Agrees to Pay Airlines the Billions They're Owed 2014-03-28T21:44:45Z Venezuela requires airlines to bill tickets sold to the country's residents in local bolivar currency, but the government currency board has not approved requests to repatriate the resulting revenue. Some airlines mull quitting Venezuela over debts: IATA 2014-03-26T20:35:10Z Carriers don’t want to acquire more bolivars, which aren’t exchangeable outside the country. Airlines Move to Cut Off Service to Venezuela 2014-03-20T17:52:30Z And a black market dollar costs 16 times more bolivars than the strongest Venezuelan government rate. Venezuelans turn to bitcoins to bypass socialist currency controls 2014-10-08T04:00:00Z Venezuelans travelling aboard will no longer be allowed to obtain foreign exchange and pay for their tickets at the official rate of 6.3 bolivars per US dollar. Ecuador-Venezuela flights suspended 2014-01-24T00:53:55Z Flourishing cross-border price gouging is taking place between Venezuela and its neighbor Colombia: You can buy government-regulated staples, such as rice, at 6.3 bolivars to the dollar and sell them at 10 times that ratio. Venezuela Post-Chávez: Hustlers' Paradise 2014-01-16T20:51:23Z The official exchange rate is currently 6.30 bolivars to the dollar. Q&A: Venezuela's economic woes 2014-01-16T02:06:35Z Airlines are supposed to receive dollars for the bolivars they receive from ticket sales, but long delays have occurred as Venezuela’s economy has tanked. Airlines Move to Cut Off Service to Venezuela 2014-03-20T17:52:30Z Greenbacks sell illegally for 10 times more than the official rate of 6.3 bolivars. Venezuela to regulate car prices in war against inflation 2013-12-05T18:45:22Z There's a huge amount of bolivars, but very few dollars. Venezuela business leader says Maduro forcing 'failed' economic model 2013-11-13T15:03:34Z She says state shops buy dollars to pay for imported goods at the official rate of around 6.3 bolivars per dollar. Venezuela's government seizes shops 2013-11-09T20:50:27Z Many expect the government to announce a new devaluation of the bolivar soon, in order to close the gap with the black market. Q&A: Venezuela's economic woes 2014-01-16T02:06:35Z Others are refusing to sell tickets in the Venezuelan currency, until difficulties in exchanging bolivars for dollars are resolved. Airlines Move to Cut Off Service to Venezuela 2014-03-20T17:52:30Z Economists widely expect a devaluation of the bolivar after the December 8 vote. Venezuela to regulate car prices in war against inflation 2013-12-05T18:45:22Z Now, he says, the car is already worth 130,000 bolivars. Why used cars can fetch more in Venezuela than new cars 2013-10-29T01:26:55Z At the same time, the Venezuelan currency, the bolivar, still appears overvalued, despite a devaluation in February, when Hugo Chavez was still alive and in power. Economy woes pile up for Latin left 2013-10-25T20:42:19Z The black market price for dollars is now about seven times the official rate of 6.3 bolivars, much weaker than under Chavez. Venezuela's Maduro stuck in shadow of 'El Comandante' Chavez 2013-10-04T05:10:34Z After a decade of currency controls set up by late socialist leader Hugo Chavez in 2003, the disparity between the official and black-market rates for the local bolivar currency is higher than ever. 'Get a boat!' Venezuela flights booked full for months 2013-09-24T14:19:53Z Currency controls are creating myriad distortions and scams: the dollar is selling on the black market at six times the official price of 6.3 bolivars. Political sparks fly after Venezuela blackout 2013-09-05T17:19:29Z For U.S. companies that do business in the country, the devaluation meant their earnings in bolivars were worth less when converted back to dollars. Colgate-Palmolive lowers profit view on Latam woes 2013-07-25T12:19:31Z Citing the impact of February's devaluation of the Venezuelan bolivar, Colgate now expects earnings per share to rise 4.5 percent to 5.5 percent for the year, down one percentage point from its previous forecast. Colgate-Palmolive lowers profit view as foreign exchange hits 2013-07-25T11:27:05Z And the local bolivar currency fetches five times more on the black market than at the official, controlled rate. Analysis: Rough honeymoon for Chavez's successor in Venezuela 2013-06-20T12:49:05Z Black-market dealers operating on the thriving underground market sell greenbacks at more than four times the official, government-set rate of 6.3 bolivars to the dollar. Maligned dollar flourishes in Venezuela 2013-05-17T13:26:00Z The fall was in part due to the impact of devaluation of bolivar by the Venezuelan government. UPDATE 1-Praxair expects stronger 2nd-quarter as Asia expansion pays off 2013-04-24T14:23:53Z But Colgate continued to be hurt by the impact of February's devaluation of the Venezuelan bolivar. Colgate-Palmolive lowers profit view on Latam woes 2013-07-25T12:19:31Z Venezuela, which maintains currency controls created a decade ago by Chavez, devalued the bolivar by 32 percent in February. Analysis: Venezuela's Maduro inherits tough economic problems 2013-04-15T09:40:13Z It credits itself with two additional bolivares for each dollar of oil revenue that it receives. Venezuela's devaluation doom-mongers 2013-03-03T13:00:01Z Because the bolivar is artificially overvalued and practically worthless outside of Venezuela, everyone here is desperate for dollars, from auto-part importers to supermarkets to ordinary Venezuelans planning to travel abroad. Maligned dollar flourishes in Venezuela 2013-05-17T13:26:00Z The survey also showed that 60 percent of people view the devaluation of the bolivar currency earlier this month as negative for Venezuela. Most Venezuelans think Chavez will recover: poll 2013-02-26T20:12:04Z Last Friday, Venezuela devalued the bolivar by 32 percent, the country's fifth devaluation in a decade. UPDATE 3-DirecTV will be hurt by Venezuelan devaluation 2013-02-15T00:34:04Z It would also improve state finances by providing more bolivars per dollar of oil exports, following heavy spending in 2012 on homes for the poor and pensions for the elderly that helped Chavez win re-election. Venezuela's Chavez overcomes infection, still having treatment 2013-01-27T00:02:56Z But the government's creation of two additional bolivares for each dollar received is also creating money, no different from creating money without the devaluation. Venezuela's devaluation doom-mongers 2013-03-03T13:00:01Z Maduro's comments about economic policy came as speculation swirled that Venezuela was preparing a devaluation of the bolivar currency that would improve state finances by providing more bolivars per dollar of oil exports. Venezuela's Chavez overcomes infection, treatment continues 2013-01-26T22:46:02Z That includes the question of devaluation of the bolivar currency that local economists say is long overdue. Maduro slams business leaders over Venezuela economy comments 2013-01-19T19:46:16Z For DirecTV, which analysts estimate generates 3.5 percent of its revenue from Venezuela, this means its earnings in bolivars are now worth less when converted back to dollars. UPDATE 3-DirecTV will be hurt by Venezuelan devaluation 2013-02-15T00:34:04Z In the meantime, economic policy decisions appear to be on hold, including an expected devaluation of the bolivar currency that economists and the private sector say is long overdue. Maduro stands in for Venezuela's ailing Chavez in key speech 2013-01-15T23:22:36Z With the micro-managing Chavez away, major policy decisions in Venezuela, such as a widely expected devaluation of the bolivar currency, appear to be on hold. Venezuela postpones inauguration for cancer-stricken Chavez 2013-01-09T00:07:18Z With the micro-managing and authoritarian Chavez away, major policy decisions in Venezuela, such as a widely-expected devaluation of the bolivar currency, appear to be on hold. Venezuela opposition leader wants clarity on Chavez swearing-in 2013-01-08T21:19:50Z But inflation is seen accelerating in 2013 because Venezuela is expected to devalue the bolivar currency after heavy campaign spending this year that helped ensure Chavez's re-election. Venezuela sees 2012 inflation at 19.9 percent, below target 2012-12-29T17:07:15Z "In addition, fiscal spending will likely fall back after October and a devaluation of the bolivar is widely expected next year." What now for Venezuela's economy? 2012-10-08T03:00:32Z So Chavez's proposal to increase that by an additional 30 billion bolivars - nearly $7 billion - represents an increase of around a third. Venezuela leader seeks nearly $7 billion hike in 2012 borrowing cap 2012-07-11T15:09:34Z In January 2010, the government devalued the bolivar in an attempt to boost oil revenues and simulate domestic production. Country profile: Venezuela 2011-12-23T11:19:35Z Chavez threatened companies with nationalization after devaluing the bolivar for the first time in five years in 2010. Chavez Warns U.S. Consumer Giants Ahead of Price Regulation 2012-02-03T18:14:25Z Venezuelans who don’t receive approval to buy dollars at the official rate pay about 8.5 bolivars per dollar on a black market. Chavez’s Daughter With Fistful of Dollars Angers Venezuelans 2012-01-26T02:02:54Z The government would also reopen currency trading through a parallel mechanism that Chavez shut down in 2010 after blaming brokerages for speculating on the bolivar and fueling inflation. Chavez Opponents Pledge No Shock Therapy If They Gain Power 2012-01-19T20:13:58Z In January 2010, Chavez seized a chain of 41 stores partly owned by Casino on accusations of price gouging following a 50 percent devaluation of the bolivar. Chavez Rolls Back Seizures as Shortages Hurt Re-Election Bid 2011-12-16T17:46:05Z The terms of the additional debt plan, which was denominated in bolivars when published in the Official Gazette last week, doesn’t restrict the sale of part of it in dollars, the official said. Venezuela Plans to Sell at Least $3 Billion of Dollar Bonds 2011-07-18T18:21:37Z Weakening the exchange rate for the bolivar in Sitme would increase the cost of imports and thereby encourage local production, said Leon. PDVSA 2022 Bonds Fall on Central Bank Plan to Sell Securities 2011-05-20T23:12:14Z Weakening the exchange rate for the bolivar in the Sitme would discourage imports and boost the economy by aiding local production, said Leon. Venezuela May Weaken Currency Rate in Medium Term, Leon Says 2011-05-19T21:16:14Z It will spend 16 billion bolivars on agriculture and $4 billion in electricity projects, Chavez said. Venezuela Quarterly GDP Rises 4.5%, Fastest Pace Since 2008 2011-05-17T22:31:28Z Revenue dropped last year after Venezuelan President Hugo Chavez devalued the bolivar, Piedrahita said. Nutresa $300 Million Share Sale Could Be Soon as June 2011-05-09T22:58:50Z Venezuela, a net importer of food, avoided raising prices caps following a devaluation of the bolivar earlier in the year in a bid to stave off an inflationary spike. Venezuela Raises Some Food Costs 48% Amid Inflation Surge 2011-04-15T18:56:14Z Teddy asked almost sternly, as he gazed at the newspaper spread on the floor of the stand, and heaped high with such delicacies as "bolivars," Bolognas, and pickled sheep's tongues. Teddy and Carrots Two Merchants of Newpaper Row 2011-01-24T03:00:19.897Z A drop in output, high public spending and a weak private sector persuaded Chavez's government to devalue the bolivar in December, the second such move in under a year, despite higher oil prices. Venezuela to cut lights at late-paying state firms 2011-01-11T03:07:34Z In the first 11 months of 2010, the government ran up a deficit of 58.2 billion bolivars, according to the Treasury. Venezuela to Devalue Second Time in 2011, Survey Says 2011-01-07T23:03:12Z Castro suppressed two newspapers which had become pronounced against him, and in his lack of sufficient funds to carry on the war, levied a million bolivars from the widow of Guzman Blanco, the former president. Where Duty Called or, In Honor Bound 2011-01-01T03:00:22.753Z It will now be able to book it all at 4.3 bolivars. Venezuelans fret over prices after devaluation 2010-12-31T16:59:16Z That will translate into a greater flow of bolivars for the government.” Chavez Devalues as World’s Highest Inflation Rate Set to Rise 2010-12-30T20:33:23Z In 2011, expect sluggish growth in Venezuela and perhaps another devaluation of the bolivar. South American Way 2010-12-29T00:01:30Z The Simon Bolivar Fund, named for Venezuela's 19th century independence hero, would begin with 10 billion bolivars, or $2.3 billion at Venezuela's middle exchange rate of 4.3 bolivars to the dollar, Chavez said. Venezuela's Chavez makes first use of new powers 2010-12-27T03:05:07Z Venezuelan President Hugo Chavez widened the crackdown in June when the government took control of all legal currency trading in an attempt to stop a plunge of the bolivar currency. U.S. arrests Venezuelan receiver in extortion case 2010-10-26T21:40:00Z For example, in January Venezuela devalued the bolivar for the first time since 2005, slashing its value against the dollar. Q&A: International currency wars 2010-10-06T12:27:00Z The central government posted a deficit of 58.2 billion bolivars, or $13.5 billion at the new exchange rate, between January and November, according to a National treasury report. Chavez Devalues as World’s Highest Inflation Rate Set to Rise 2010-12-30T20:33:23Z The issue is intended to soak up liquidity in the local bolivar currency and feed unmet dollar demand. Venezuela to start $3 billion debt from Monday 2010-08-08T23:51:00Z Analysts and market sources believe the band for the parallel dollar will probably be between 5.0-7.0 bolivars. Chavez government takes over Venezuela forex trade 2010-05-19T00:28:00Z It is called the parallel market because it operates alongside two fixed rates for the bolivar of 2.6 and 4.3 per dollar -- set by the government in a devaluation in January. Chavez signs new currency law against speculation 2010-05-17T02:51:00Z Venezuela's foreign exchange market is already paralyzed after the government moved to end speculation and stem the fall of the bolivar with new rules some economists fear will cause economic turmoil. Chavez orders money changer raids for currency crash 2010-05-15T00:47:00Z Fuelling the price rises and causing distortions throughout the economy, the U.S. dollar touched 8.0 bolivars on the free-floating parallel market. Chavez threatens "bourgeoisie" for economic woes 2010-05-09T18:56:00Z "I wouldn't be seen dead in there, with all those scurrilous Chavistas," said a well-heeled housewife, buying an arepa for 25 bolivars in a middle-class neighborhood. "Socialist" snacks nourish Chavez fans in Venezuela 2010-04-20T14:42:00Z The system will now inevitably force some people to turn to illegal means, such as depositing dollars in foreign bank accounts in exchange for bolivars in Venezuela, traders said. Chavez government takes over Venezuela forex trade 2010-05-19T00:28:00Z The company said it plans to record a first-quarter charge of about $125 million related to the devaluation of the Venezuelan bolivar. 2010-02-11T14:52:00Z Under a reform passed by legislators on Thursday, the central bank will oversee all transactions in the market where the bolivar is traded freely via securities. Chavez orders money changer raids for currency crash 2010-05-15T00:47:00Z Businessmen say, however, that access to dollars at 4.3 or 2.6 bolivars is severely restricted -- and rife with corruption -- meaning about half of imports rely on obtaining foreign currency on the parallel market. Chavez threatens "bourgeoisie" for economic woes 2010-05-09T18:56:00Z Still, the companies stood by their 2010 profit forecasts as they digested new concerns like the effect from the devaluation of the bolivar in Venezuela. 2010-01-29T06:18:00Z Still, the companies stood by their 2010 profit forecasts as they digest new issues such as the impact from the devaluation of Venezuela's bolivar. 2010-01-28T15:15:00Z The devaluation is therefore good news for the state oil company, PDVSA, which will now see the value of its petrodollars soar in bolivar terms. 2010-01-19T07:00:00Z The weak bolivar is raising the cost of consumer products in the import dependent country and helped drive inflation to 5 percent last month. Chavez orders money changer raids for currency crash 2010-05-15T00:47:00Z Just days after Mr. Chávez cut the value of the "strong bolivar" currency, some businesses were marking up prices. 2010-01-13T05:16:00Z Devaluing the bolivar by at least 17% will aid competition and cut reliance on imports, President Hugo Chavez says. 2010-01-12T09:23:00Z Devaluation of the bolivar announced late on Friday by President Hugo Chavez triggered a shopping spree in the capital city Caracas, as people tried to beat price increases. 2010-01-11T23:18:00Z Mr Chavez says devaluing the bolivar by at least 17% will boost competitiveness and reduce dependence on imports. 2010-01-10T23:01:00Z Under the new rules the central bank is likely to seek to establish a floor and ceiling for the bolivar market. Chavez orders money changer raids for currency crash 2010-05-15T00:47:00Z Meanwhile, the bolivar was little changed at 6.40 to the dollar in black-market trading. 2010-01-13T05:16:00Z View Full Image European Pressphoto Agency Venezuelan President Hugo Chávez ordered the bolivar to weaken by half in a bid to shore up government finances. 2010-01-10T23:44:00Z Pressure to devalue rose as the bolivar plunged to around of third of its value on the black market. 2010-01-09T18:57:00Z President Hugo Chavez announced a dual system for the fixed rate bolivar Friday night while much of the country was watching a baseball game. 2010-01-09T23:07:00Z However, the bolivar is far more devalued on the parallel, unofficial currency market where it trades at rates as high as six bolivars to a US dollar. 2010-01-09T02:45:00Z The devaluation should help his government earn more bolivars for every dollar in oil revenue from state oil giant PdVSA, helping Mr. Chávez to run up spending ahead of the vote. 2010-01-13T05:16:00Z In order to protect the poor, his main constituency, from the move, Mr. Chávez announced the creation of another exchange rate of 2.6 bolivars per dollar for imports of food, medicine and other essential goods. 2010-01-10T23:44:00Z The move will likely boost the state's bolivar revenues from oil and help local exporters, but add pressure on prices, which soared 25 percent in 2009, the highest in the Americas. 2010-01-09T02:51:00Z The sharp drop in oil revenues also undermined the bolivar and made a devaluation inevitable at some point. 2010-01-09T23:07:00Z The bolivar, whose rate is set by government decree, will be devalued from its current rate of 2.15 to the US dollar to 2.60 for "priority" imports. 2010-01-09T02:45:00Z With the new exchange rates the government will be able to squeeze more bolivars for every dollar it receives from its oil sales, which plunged last year on lower prices. 2010-01-09T02:48:00Z Those rates will compete with a black-market rate, where the bolivar had plunged, forcing the official devaluation. 2010-01-10T23:44:00Z The company is still evaluating the rate it will use to translate its sales in Venezuela into U.S. dollars after the bolivar devaluation earlier this month. 2010-01-22T15:48:00Z "Oh, some blue ribbons, and candy," said Bo-peep, "bolivars, and chocolate drops, and such things." Harper's Young People, July 6, 1880 An Illustrated Weekly The bolivar is widely believed to be overvalued by as much as 50%. The 2001 CIA World Factbook The devaluation is a humiliating setback for Mr. Chávez, who two years ago led with much fanfare the redenomination of the currency to bolivar "fuerte," or "strong" bolivar. 2010-01-09T02:48:00Z Venezuela has used currency controls for years to defend the bolivar, which became grossly overvalued amid galloping inflation and government spending. 2010-01-10T23:44:00Z In 1983 the drop in oil prices led to the devaluation of the Venezuelan bolivar, which ended a substantial flow of Venezuelan tourists to the islands. The 1990 CIA World Factbook Here they stopped, and Carroll threw his jehu a five- bolivar piece, which the driver caught, driving away at once, without the demand for more which usually follows overpayment in Caracuna. The Unspeakable Perk The bolivar is widely believed to be overvalued by as much as 50%. The 2001 CIA World Factbook One plat in particular reminded me, not unpleasantly, of a peculiar cake, known to my boyhood as "a bolivar." Urban Sketches |
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