Tag: Dicom Venezuela

• Wednesday, February 7th 2018 - 07:50 UTC

  Venezuela desperate after US dollars; greenback costs 228.000 Bolivars in the black market

  

  Venezuela’s central bank announced a devaluation of more than 99% of its official exchange rate with the launch of a new foreign exchange platform, a move critics quickly said would not create a functioning currency market.

• Friday, September 15th 2017 - 07:38 UTC

  Venezuela plans to abandon the dollar; greenback currently sells for 22.400 Bolivar

  

  Venezuela temporarily suspended the sale of U.S. dollars through its Dicom auction system, following an announcement last week that it was moving away from the greenback in response to U.S. sanctions. The United States in August prohibited dealings in new debt from Venezuela and state oil company PDVSA in response to the creation of a new legislative super-body that critics call the consolidation of a dictatorship.