Comments on: Fair Prices in Venezuela https://www.isegoria.net/2013/11/fair-prices-in-venezuela/ From the ancient Greek for equality in freedom of speech; an eclectic mix of thoughts, large and small Mon, 01 Jun 2026 14:48:47 +0000 hourly 1 http://wordpress.org/?v=3.6.1 By: Isegoria https://www.isegoria.net/2013/11/fair-prices-in-venezuela/comment-page-1/#comment-1018713 Isegoria Tue, 12 Nov 2013 15:06:14 +0000 http://www.isegoria.net/?p=33424#comment-1018713 I found that tone odd. Retailers are basing the prices of their imported goods on black-market exchange rates!? No wonder the government is stepping in! Sigh.

]]> By: Erik https://www.isegoria.net/2013/11/fair-prices-in-venezuela/comment-page-1/#comment-1017961 Erik Mon, 11 Nov 2013 20:49:12 +0000 http://www.isegoria.net/?p=33424#comment-1017961 The Wikipedia page for the currency has some of the same tone in parts where it explains the events leading up to this:
http://en.wikipedia.org/wiki/Venezuelan_bol%C3%ADvar

“Nevertheless, the black market value of the bolívar fuerte has been significantly lower than the fixed exchange rate of 2.15 (in February 2008 it was as high as 7.0 to 1).[2] It is illegal to publish this “parallel exchange rate” in Venezuela.[2]

…

It should be noted that the official exchange rate is restricted to individuals by CADIVI, which imposes an annual limit on the amount available for travel (up to $3000 annually depending on the location and duration of travel) and $400 for electronic purchases.

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Since Hugo Chavez imposed strict currency controls in 2003, there have been a series of five currency devaluations, disrupting the economy.[14] There was another devaluation on 13 February 2013 (to 6.30 bolivars per dollar), in an attempt to counter budget deficits.[15]“

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