Venezuela in the crazy currency devaluation. Bolivar (Venezuelan currency) black market exchange rate in August was a big crash. The international investor Simon Black recently went to Venezuela. Personally experienced hyperinflation under the life of the dollar against the Bolivar. The official exchange rate and the black market exchange rate was almost 3000 times faster. Bolivar had fallen by 40 per cent in three days in August. Once at $ 1 per month against Bolivar. And 96 per cent in the past year. While the M2 supply in the last week of July increased by nearly 10 %.Best Currency Exchange Brisbane
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Simon Black recently returned from Venezuela, wrote his own personal experience. The recent Venezuelan black market exchange rate against the Bolivar even came to the 1: 27000. And the official exchange rate was 1:10, nearly 3000 times faster. So, not the official Bolivar is too expensive, is the black market is too cheap. Simon Black takes a taxi from the hotel to the airport at a cost of 80000 Bolivar. If it is $ 8,000 for the official exchange rate, but $ 3 for the black market. Best Currency Exchange Brisbane
Obviously, or black market exchange rate closer to a reasonable price. Simon Black added a picture to the article, with a $ 100 bill. The results in the black market in exchange for so many Bolivar . The life of the people of Venezuela. The madness of the money market has made it difficult for the people of the country to live. And the country’s industrial production is shrinking. And there is basically no economic activity. Daily necessities, the import of goods is extremely expensive. And the lack of medicine, supermarket shelves over, even as flour, white rice such staple food. Best Currency Exchange Brisbane
The madness of the money market has made it difficult for the people of the country to live. And the country’s industrial production is shrinking. And there is basically no economic activity. Daily necessities, the import of goods is extremely expensive. And the lack of medicine, supermarket shelves over. Even as flour, white rice such staple food are rare. Only nuts can be used for fruit. Meal, the boss sat in the door, maybe 10 days will not have a customer door. Street consumer activities deserted, but the crime is very rampant. Best Currency Exchange Brisbane
At night, the original restaurant, bar, the club closed because of the door and quiet. Sometimes came gunshots, through the silence of the street, it is particularly harsh. $ 100 can you buy in Venezuela? So, what can Simon Black buy for $ 100? He wrote with emotion that “$ 100 could buy 270,000 Bolivar”. But 270,000 Bolivar, it was hard to buy something in a material shortage environment because medicine and food were even more. But also expensive, it is hard to imagine how people live here. Best Currency Exchange Brisbane
The dollar index has recently risen from the bottom. Many factors, but you may not be able to ignore the potential impact of Beijing. According to “Bloomberg” reported that the dollar trend in the recent 180-degree change. Bloomberg index from the September 8 low, has risen 2.5%. Investors believe that the US Fed more hawks. And the US government’s tax reform plan, will also attract more dollars back. Have become the driving force behind the dollar. But the dollar rally start, but just with the Bank of China an important policy change time coincides. It is worth noting that. The Chinese people issued a document on the 8th day. Best Currency Exchange Brisbane
The Chinese people issued a document on the 8th day. Cancelling the foreign currency risk reserve ratio (RR) needed to short the renminbi, equal to the green light for the RMB space. The day the yuan to take up to 0.8% increase. Since then, the yuan fell almost daily, only 3 days to see the appreciation. Is this just a coincidence? In early January this year, the Hong Kong interbank interest rate soared, hit the yuan short. And the offshore RMB exchange rate record-breaking weekly gains. Although the weekly Bloomberg index did not fluctuate much. But then fell, the week is also the dollar index this year’s high.
By the Bloomberg dollar index, offshore RMB only 3%. The euro accounted for the most, up to 32%, followed by the yen 18%. So the offshore yuan itself is not enough to drive the dollar to change. But the trader probably still have to pay attention to the intention of people. It will not do the wrong direction of the dollar. New York currency – Republican tax reform details The dollar index rose to a one-month high US dollar continued to rise on Wednesday. The dollar index rose to more than a month high.
Investors are waiting for President Chuanpu to explain the tax reform program. Canadian dollar fell, the Canadian central bank president Poloz in the speech. Show pigeons tone, the Canadian dollar under pressure. The dollar index, which tracks the dollar against the basket in six currencies. Rose 0.4 percent to 93.324, the highest since Aug. 23, rising for the third consecutive day. The dollar rose to 1.2429 Canadian dollars, late Tuesday reported 1.2347.
The euro fell to $ 1.1754, New York Tuesday late at 1.1795. The dollar rose to 112.64 yen, late Tuesday reported 112.24. Earlier, the dollar broke through 113 yen, since the middle of July since the first break through the check mark. The Fed hinted that interest rates would rise in December and then rise again in 2018. And the dollar rose. On Tuesday, Fed Chairman Ye Lun strengthened the 2017 and then raise interest rates once expected. She said that if the maintenance of monetary policy.
She said that if the maintenance of monetary policy unchanged. Until the inflation hit the central bank goals, fear of cautious. Poloz said the Canadian central bank attaches great importance to data because global inflation is still low. The central bank must refer to more than a month of data in order to make the final decision. Republican tax reform plan, including the maximum tax rate of 20%, lower than the current 35%.
President Chuanpu will give a speech on Wednesday to explain the tax reform plan. German Chancellor Angela Merkel won the fourth term of office. But her party received a significant decline in support. Which means that the joint coalition negotiations will be tough and time-consuming, triggering uncertainty about the eurozone. Analysts said that if the euro continued to be weak, it could mean that the medium-term highs had arrived.
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