Venezuela’s political crisis is a deeply
complex issue affecting nearly every aspect of everyday life. The country’s
foreign-exchange reserves and trading have been quietly at the forefront of
these issues for some time now, as reserves dwindle and the value of the
Venezuelan bolívar falls. 2017 has seen a flurry of activity in the country’s
foreign-exchange arena as both public and private developments drag down the
embattled country’s currency. In an effort to curb the free-falling currency,
Venezuelan President Nicolás Maduro and the country’s central bank introduced a
new exchange rate through its DICOM currency auction system. The new exchange
rate saw the value of the bolívar drop from 728 per one US dollar to 2,010 per
one US dollar. More…
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