Gas Prices Rise and COVID-19 Restrictions Loosen in Venezuela

    Jun 03, 2020 @ 10:45 AM / by Morgan Grenier

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    June 1 marked a day of changing times in Venezuela. The price of gasoline in the country has been among the lowest in the world for decades, and in recent years, currency depreciation has made the resource practically free.

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    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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    How far does your gas money go? [Infographic]

    Sep 24, 2018 @ 11:58 AM / by Gerald Abbey

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    While the world average price of gas has dropped from 1.43 USD per liter in 2014 to 1.17 USD per liter in 2018, prices have been trending upward in many countries including the Middle East, where gas prices typically see little change.

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    ALERT: Currency chaos continues in one of the world's most volatile economies

    Aug 27, 2018 @ 12:19 PM / by Morgan Grenier

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    The economy of Venezuela continues to be one of the most volatile in the world. On Friday, August 17, President Nicolas Maduro announced the devaluation of the Bolivar Fuerte (VEF) from about 250,000 to 6,000,000 VEF to 1 USD.

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    State-backed Cryptocurrency and Redenomination of the Bolivar

    May 11, 2018 @ 12:39 PM / by Alex Davis

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    Critics say this is merely a superficial solution and will do nothing to combat hyperinflation. This announcement followed presidential candidate Henri Falcon’s proposal to dollarize the Venezuelan economy.

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    Venezuela's 'Petro' Cryptocurrency Announced

    Jan 23, 2018 @ 03:44 PM / by Alex Davis

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    President Maduro recently announced the creation of the Petro, Venezuela’s own cryptocurrency, backed by natural resources such as oil and gold.

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    Venezuela’s New Exchange Rate

    Jul 20, 2017 @ 10:14 AM / by Alex Davis

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    On May 31, Venezuela announced the results of the first currency auction for its new DICOM exchange rate, the fifth such currency control mechanism introduced since 2003.

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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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    Hyperinflation Nation: Venezuela has Recalled its 100-Bolivar Note

    Dec 16, 2016 @ 02:32 PM / by Morgan Grenier

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    At the time of our survey, a kilogram of green apples was priced around 5300 VEF. With 100-bolivar notes, this purchase would require fifty-three bills.

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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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