Bolivar Black Market Presentation

LOGO The Venezuelan Bolivar blue Market TV C Contents Facts Impacts Causes Solution Conclusion What is the problem??? ?Santiago pharmaceutical distribution business ?February 2003, metropolis controls were implemented Expensive to cause dollars How to come up with $30,000the hard gold ??? Venezuela overview ? Venezuela The reign of Hugo Chavezs ? Currency: Bolivar Diagram Economy & cash Political 1998 Chavez was select to be President Repeated recalls, resignations, coups,.. Jan 21, 2003: Closed at 1.

891,5/$ The hoggish sales of d ollars was suspended for 2 weeks Consequences ? Black market observe of Bolivar (Bs 2,500/$) ? convince value ? Inflation evaluate soared to >30% per annum Capital controls and CADIVI 2003 metamorphose Regulations Decree 1 2 Set the official important rate Bs1596/$ (bid) and Bs 1600/$ (offer) Established the Commission de Administration de Divisas (CADIVI) 3 Implemented strict price control Unstated indispensableness ? Authorizations by CADIVI would be reserved for Chavezs supporters ? August 2003, anti Chavez petition collected 1 million signatures Fail 1 million names were cross-checked including Santiago The hoary Market ? CANTV (local telecom company) ? ADRs = American Depositary Receipts ($-denominated) The Grey Market ? convert rate calculated based on deal out price of CANTV ? E.g 1 ADR= 7shares Local Stock Exchange CANTV NYSE Purchase: Bs7945/share Convert: $18.84/ADR ×/ ? u nvoiced grey market rate = $./ Bs2952/$ ! The Grey Market Venezuelan positive and Grey Market Exchange Rates, Venezuelan Bolivar/U.S. Dollar (January 2002-March 2004) The Black Market - Official - court-ordered - ER = Bs2952/$ Gray Market - Unseen - Illegal - ER = Bs3300/$ Black market The Black Market Obtaining hard currency (USD) through BLACK MARKET ???? ...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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