The president of Venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The official rate is falling from 4.3 bolivar to the US dollar, to 6.3, a 32% devaluation. By increasing the bolivar value of exports of oil to the United States and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending obligations. In response to the announcement, the people of Venezuela lined up today to buy televisions, electronics, and airline tickets to protect themselves from projected price increases
What has the president of Venezuela done by devaluating the bolivar?
A. allowed the exchange rate to be set by supply and demand
B. artificially increased the number of bolivars needed to buy one US dollar
C. artificially decreased the number of bolivars needed to buy one US dollar
D. allowed the exchange rate to remain unchanged for the near future
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The president of Venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The official rate ...” in 📘 History if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
What were three ways truman supported civil rights
Answers (1)
Which of these individuals was not a member of the Republican Party?
Answers (2)
The Election of 1800 was significant because it A) played a major role in America's acquisition of the Louisiana Territory in 1803. B) was the first peaceful transition of political power between opposing parties in U. S. history.
Answers (1)
Why does james madison think government is necessary?
Answers (1)
Approximately when did Buddhism spread through china
Answers (1)
New Questions in History
Which two pivotal events that took place in 1980 led to the establishment of strategic management as a field of study?
Answers (1)
How might suicide bombings be related to religious fundamentalism?
Answers (1)
Which of the following is an example of the interpretation of historical evidence? a. The American Civil War lasted from 1861 until 1865. b. Conflict over slavery was the most important cause of the American Civil War. c.
Answers (1)
Lincoln was killed after the US Civil War had ended.
Answers (1)
Finding enough land for growing food was no problem for the: A. Mesopotamians B. modern Japanese C. Cretans
Answers (1)