Venezuela has been facing one of the world’s worst inflation crises. The bolívar has lost nearly all its value, one Indian Rupee (₹1) now equals 1,381 bolívars. Years of economic turmoil and currency devaluation have made basic goods unaffordable for millions. #Venezuela #Inflation #Economy #CurrencyCrisis #GlobalNews #Finance #International | Indiatimes
Venezuela has been facing one of the world’s worst inflation crises. …
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SOLVED: Read this news report about a planned devaluation of the bolivar, the currency of Venezuela. The president of Venezuela announced that the country would be devaluing the bolivar for the fifth time in nine years. The official rate is falling from 4.3 bolivars to the dollar to 6.3, a 32% devaluation. By increasing the bolivar value of exports of oil to the US and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending
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