Shoppers in Venezuela buy TVs, Refrigerators

Devaluación afectará poder de compra del venezolano

En este caso, el tipo de cambio pasó de 2,15 bolívares fuertes a

4,30 bolívares fuertes por dólar, lo que significó un ajuste de 100%. source: eluniversal.com

21st century Socialism 2 exchange rates:

Venezuela's Inflation 25%, the highest in the Americas

New exchange rate: $1 = 4.6 Bolivars, buying power 50% down

was $1= 2.15 Bolivars (1USD=2.15VEB)

Exemption:

Food, Medication, industrila machines keep old exchange rate 2.6 Bolivars

dual-rate foreign exchange system

Venezuela's sales of oil, which are denominated in dollars, now account for more

than 90% of exports. So total exports can hardly be expected to rise as a result of the devaluation.

The extra money will allow Chavez to restore spending on social programs

The government, of course, is assured of immediately getting the VEF4.3 rate, which means that

starting Monday the tens of millions of dollars oil-rich Venezuela earns on a daily basis from its

petroleum sales - mostly to the U.S. - will be worth double when converted into bolivars.

source: online.wsj.com

Updated at 23:01 GMT, Sunday, 10 January 2010

Chavez warns price 'speculators'

Venezuela's President Chavez says troops will seize control of any

business raising prices after the country's currency was devalued.

source: news.bbc.co.uk