Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Latin America

hack89

(39,181 posts)

3. It is the price in US dollars

Reply to 99th_Monkey (Reply #1)

Thu Oct 2, 2014, 11:41 AM

Oct 2014

using the exchange rate the vast majority of businesses have to use to acquire dollars to buy foreign goods.

What it shows is the price businesses actually have to pay for the goods they sell. The VZ economy is plunging into recession because business cannot get the dollars they need to purchase foreign goods and materials. That is why companies are shutting down and why there are widespread shortages of basic necessities like food and medicines.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

16 replies

= new reply since forum marked as read

Highlight:

Venezuela’s Surreal Prices . [View all] Bacchus4.0 Oct 2014 OP

Those aren't US dollars are they? nt 99th_Monkey Oct 2014 #1

yes they are n/t Bacchus4.0 Oct 2014 #2

It is the price in US dollars hack89 Oct 2014 #3

Well then, I guess I'll not be visiting there any time soon. nt 99th_Monkey Oct 2014 #4

Correct, they would only give you 6 to 10 Bs for a dollar. Don't use an ATM or a credit card Bacchus4.0 Oct 2014 #10

Highly misleading. The prices are converted to the blackmarket rate for dollars...12x the difference Fred Sanders Oct 2014 #5

Incorrect!! the prices would be those at the OFFICIAL rate of 6:1 $120 towel would be Bs 720 Bacchus4.0 Oct 2014 #6

I think Yahoo is wrong, what towel costs a quarter of your monthly wages anywhere? Get real. Fred Sanders Oct 2014 #7

Thats the point of the article chief n/t Bacchus4.0 Oct 2014 #8

The point of the article, as most on exteme RW Yahoo politics, is to mislead. Fred Sanders Oct 2014 #9

Go there an check yourself. The towel costs Bs 720. WHich is $120 at the official rate Bacchus4.0 Oct 2014 #11

You're a dangerous person, Bacchus Zorro Oct 2014 #14

don't get sucked into a conversation fred maximillian1974 Oct 2014 #12

Not really, many here like me and Zorro and MADem think the same Marksman_91 Oct 2014 #16

What do you think happens in countries with exploding inflation hack89 Oct 2014 #13

Dude, I'm from Venezuela! I go there every so often and have friends and family still there Marksman_91 Oct 2014 #15