A staggering plunge in the free market value of Venezuelan currency sent people scrambling to sell off their depreciating bolivars Friday.
The widely followed website DolarToday, which tracks exchanges along the Colombian border, reported that the South American country’s currency lost a quarter of its value over the last eight days.In January it took 173 units of Venezuela's currency to buy a dollar. A week ago it was 300. Today DolarToday reports that that's up to 415 bolivars. Of course, it couldn't be the fault of the socialist ideologues who rule the country;
In April, [President Nicolas] Maduro repeated his assertion that the site’s shadowy managers, whose identities are not public, are collaborating with the speculators and opposition leaders he blames for the country’s problems. He accused them of purposely sowing chaos and promised to have them arrested.
“We’re going to put those people at DolarToday who are waging an economic war against Venezuela behind bars, sooner rather than later” he said.No news is good news, for Nick.