Tag: Bolivar

Venezuelan President Nicolas Maduro unveiled the country's new sovereign bolivar -- along with a raft of economic reform measures -- ahead of a currency relaunch

Venezuela: Businesses to Close Following 60-Fold Minimum Wage Increase

Venezuela is set to face further economic turmoil after socialist dictator Nicolás Maduro announced economic reforms that include lopping five zeroes off the value of the Bolivar currency and increasing the country’s minimum wage by 3,500 percent this weekend.

Nicolas Maduro

Cuban-Style Economic Apartheid Hits Venezuela as ‘Dollar-Only’ Trade Grows

The rapid and steady decline of Venezuela’s national currency, the Bolívar, is forcing a growing number of businesses to do trade only in American dollars, freezing out Venezuelan citizens from buying cars, renting apartments, or boarding flights offered by businesses that refuse their currency even when they can muster an equivalent amount of retail prices in Bolívars.