Venezuela’s Hyperinflation & Dollarization

    Feb 17, 2020 @ 01:53 AM / by Alex Davis

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    For years, Venezuela’s currency (currently the VES, was VEF) was the only currency legal to use within the country. However, with hyperinflation and a rapidly depreciating currency, using the VES was often difficult. Although not technically legal, transactions would often still occur using U.S. dollars, as it is a stable currency.

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    Protests, Seizures, and Currency Depreciation: Conditions in Venezuela continue to worsen

    Apr 26, 2017 @ 10:04 AM / by Morgan Grenier

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    While the official exchange rate for Venezuelan Bolivares Fuertes is USD1.00=VEF10.00, the black market rate in Caracas on Friday, April 24th reached 4711.73 bolivars per USD

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    Venezuela: New Name, Same Result

    Apr 07, 2016 @ 04:26 PM / by Christopher Zeitz

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    The DICOM has depreciated against the US Dollar, although this rate is still much stronger than the black market rate of...

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