InvestorsHub Logo
Followers 2
Posts 1353
Boards Moderated 0
Alias Born 10/16/2006

Re: None

Monday, 03/15/2010 4:20:25 PM

Monday, March 15, 2010 4:20:25 PM

Post# of 607
Wayne... where do you get this crap from?
Venezuela was recent lop and this is what they did. Every country that lops has two currencies running for however long the exchange period is.
http://www.reconversionbcv.org.ve/pdf/TripticoColorIng.pdf
When does the transition period begin and how long will it last?
As of January 1st, 2008 the “bolivar fuerte” will start
circulating and for a period no shorter than six months will
circulate simultaneously with the current bolivar
; this means that these last ones will continue circulating and people will be able to use them the same way they are used at present. During the transition, the payment of any goods or services may be made with both currencies but keeping the equivalences: if a kitchen costs Bs.F. 800, it can also be paid with Bs. 800,000.
In order to make the learning of the equivalences easier, starting on October 1st, 2007, all goods and services, for example, magazines, menus, school registrations, publicity, classified adds, public services, groceries, among others, should be marked in current bolivars as well as in “bolivar fuerte”. So,
for example, home appliances stores should include in the labels of their products the description of the prices both in “Bs.” as well as in “Bs.F.”.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.