Bolivar Black Market Presentation

LOGO The Venezuelan Bolivar blue mart TV C Contents Facts Impacts Causes Solution Conclusion What is the line of work??? ?Santiago pharmaceutical distribution business ?February 2003, chief city controls were implemented Expensive to obtain dollars How to go up up with $30,000the hard bullion ??? Venezuela overview ? Venezuela The reign of Hugo Chavezs ? Currency: Bolivar Diagram thriftiness & currency Political 1998 Chavez was elected to be President Repeated recalls, resignations, coups,.. Jan 21, 2003: Closed at 1.

891,5/$ The gross(a) sales of dollars was suspended for 2 weeks Consequences ? Black commercialise mensu roam of Bolivar (Bs 2,500/$) ? convince value ? Inflation rate soared to >30% per annum Capital controls and CADIVI 2003 supervene upon Regulations Decree 1 2 crash the official central rate Bs1596/$ (bid) and Bs 1600/$ (offer) open the Commission de Administration de Divisas (CADIVI) 3 Implemented strict price control wordless requirement ? Authorizations by CADIVI would be reserved for Chavezs supporters ? August 2003, anti Chavez petition store 1 million signatures Fail 1 million names were cross-checked including Santiago The white-haired Market ? CANTV (local telecommunication company) ? ADRs = American Depositary Receipts ($-denominated) The Grey Market ? Exchange rate calculated establish on share price of CANTV ? E.g 1 ADR= 7shares Local Stock Exchange CANTV NYSE Purchase: Bs7945/share switch: $18.84/ADR ×/ ? unvoiced grey market rate = $./ Bs2952/$ The Grey Market Venezuelan positive and Grey Market Exchange Rates, Venezuelan Bolivar/U.S. dollar sign (January 2002-March 2004) The Black Market - Official - Legal - ER = Bs2952/$ Gray Market - Unseen - Illegal - ER = Bs3300/$ Black market The Black Market Obtaining hard currency (USD) through BLACK MARKET ???? ...If you want to go about a full essay, found it on our website: Orderessay

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