Venezuelan Bolivar Plunges to Record Low on Black Market; Bond Default Coming Up in October?
MishTalk
AUGUST 28, 2014
Bolivar vs. US Dollar From 2005 to 2009 the official exchange rate was 2 bolivars to one US dollar. In 2009 the official exchange rate soared to 4.3 They are trying to save up as many dollars as possible to meet obligations to bondholders.” Venezuela’s benchmark dollar bonds due in 2027 fell 0.44 to the dollar.
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