Venezuela's "integral" minimum wage goes to $ 1 per day at the official rate
The bolivar was devalued 86.6% with the first auction of the new Dicom
The exchange rate that resulted from the first auction of the mechanism was 30,987.5 bolivars per euro or 24,996 bolivars per dollar
By MARÍA FERNANDA SOJO | MFSOJO@EL-NACIONAL.COM
FEBRUARY 6, 2018 06:15 AM | UPDATED ON FEBRUARY 6, 2018 06:53 AM
The exchange rate that resulted from the first auction of the new Dicom, which will apply to all foreign exchange operations in the country, was 30,987.5 bolivars per euro or 24,996 bolivars per dollar, which represents another devaluation of the bolivar, hit in 15 years of exchange control.
The results published by the Central Bank of Venezuela reflect a variation of the exchange rate of 647% and a devaluation of the bolivar of 86.6%, with respect to the last rate of the Dicom which stood at 3,345 bolivars per dollar last September .
In addition, they also represent a variation of the exchange rate of 249,860% and a devaluation of the bolivar of 99.6%, when compared with the exchange rate of the Dipro currency system of 10 bolivars per dollar, which was repealed with the Convention Exchange No. 39.
On this occasion,
the BCV did not publish the number of people who were awarded, nor how many currencies were assigned. The issuing institute only indicated that because of the financial sanctions imposed by the United States, transfers in foreign currency between the public and private banks of the national financial system participating in the Dicom have been hampered, which has generated significant difficulties in the execution of the auction.
-snip-
http://www.el-nacional.com/noticias/regimen-cambiario/bolivar-devaluo-866-con-primera-subasta-del-nuevo-dicom_221988
More smoke and mirrors, courtesy Chavismo. And the transparency... yummy!
Of course, all of this was at the "official rate"... the actual rate at which Venezuelans dump their worthless Bolivars is not at 249,860%... the Bolivar Fuerte has devalued over 40,000,000% since Chavismo.
But, the good news is that Maduro can dance the salsa and sing llanero music (always handy for a Maximum Leader!)... and he looks forward to beating whoever he meets in the upcoming presidential elections... should he be required to beat anyone once the CNE finishes banning everyone else from running.