Author Topic: So Venezuela is changing today!  (Read 6462 times)

0 Members and 1 Guest are viewing this topic.

Offline SarahAppleTopic starter

  • Newbie
  • Joined: Aug 2018
  • Posts: 11
  • Karma: +0/-0
  • HODL!
    • View Profile
So Venezuela is changing today!
« on: August 21, 2018, 10:27:14 AM »

your ads here
The key changes, which will come into effect from today:
  • Devalue Venezuela's currency, the bolivar, by a whopping 95%. The new currency will be renamed the "sovereign bolivar."
  • Instead of an exchange rate of 250,000 bolivars per US dollar, it will increase to around 6 million.
  • According to Bloomberg, the new bolivar will be pegged to the government's own cryptocurrency, the petro.
  • The sovereign bolivar will move in line with changes in the petro, which itself is linked to movements in oil prices.
  • The petro is valued by the Venezuelan government at around $60, or 3,600 sovereign bolivars.
  • To make things more complicated, the new sovereign dollar will also be re-denominated, which will remove about five zeros from its unit measurement.
  • At the same time, President Maduro also announced a huge 3,000% increase to the minimum wage.
  • So in the new re-denominated currency, a person on the minimum wage will receive around 1,800 sovereign bolivars a month, instead of 1.8 million.
  • The new minimum wage will be the equivalent of around $30 per month.
What you think about it guys?

Offline emililadjet

  • Full Member
  • **
  • Joined: Aug 2018
  • Posts: 105
  • Country: 00
  • Thanked: 2 times
  • Karma: +1/-0
  • HODL!
    • View Profile
    • audio loudspeaker kit
Re: So Venezuela is changing today!
« Reply #1 on: February 16, 2019, 04:04:51 PM »
The people of venezuela will resist against the americain
I was bidding on a pair audio loudspeaker kit on ebay that were grabbed.

Offline Gregory789

  • Newbie
  • Joined: Jun 2019
  • Posts: 42
  • Thanked: 1 times
  • Karma: +1/-0
  • HODL!
    • View Profile
Re: So Venezuela is changing today!
« Reply #2 on: June 06, 2019, 10:00:51 PM »
I read that people who own cryptocurrencies are the only ones who can live there good today.


Venezuela to Pay Russia With Own Cryptocurrency for Automotive Parts

Started by

Replies: 3
Views: 9105
Last post August 15, 2019, 01:22:14 AM
by pkshop
CNN: 30% Off Venezuela Offers India Cheap Crude Oil on Discount if Paid in Petro

Started by

Replies: 1
Views: 8892
Last post June 26, 2018, 04:06:19 PM
by Bandys