Morning Star The People's Daily reports that
Venezuela reinvents the wheel;
FINANCE Minister Rodolfo Marco launched a new foreign exchange
platform on Tuesday that will devalue the bolivar heavily while
bolstering state coffers amid tumbling oil revenues.
The new platform, called Marginal Currency System or Simadi, is the
third system in a three-tier exchange control mechanism and will allow
for legal trading of foreign currency based on supply and demand, said
Mr Marco.
“This third mechanism is open and free, in which bidders and buyers
exchange offers,” he said during a press conference with central bank
president Nelson Merentes.
Why don't you go with that, Nelson. Say, apply it to the market for toilet paper.
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