October 20, 2019

Archives for February 2013

Currency Wars

  Venezuela announced a surprise devaluation of the bolivar on Friday (8th Feb).  This coincided with a holiday weekend in Venezuela, so workers and companies will have to deal with that shock on Tuesday.  The devaluation was from 4.3 bolivars/$1 to 6.3 bolivars to $1, a devaluation of 32%.  This is Venezuela’s fifth devaluation since […]