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Latin American Economy & Business - June 2017 (ISSN 1741-7430)
Venezuela: Sharp devaluation as ‘new’ Dicom system is launched
After a two-month delay, the Banco Central de Venezuela (BCV, central bank) has finally implemented changes to its complex exchange-rate system that essentially encompass a maxi-devaluation. The changes were initially unveiled in March and were supposed to have been launched immediately, but with massive anti-government protests spreading across the country, the government’s focus has been elsewhere.
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