You are here
Venezuela knocks three zeros off ailing currency amid hyperinflation
By Corina Pons and Deisy Buitrago
Reuters
Thursday, March 22, 2018
CARACAS, Venezuela -- Venezuela's President Nicolas Maduro ordered a re-denomination of the ailing bolivar currency today by knocking three zeroes off amid hyperinflation and a crippling economic crisis.
The measure to divide the so-called bolivar fuerte -- or "strong bolivar" -- currency by 1,000 would take effect from June 4, the socialist leader said. It would not have any impact on the bolivar's value.
The move illustrates the collapse of the bolivar, which has fallen 99.99 percent against the U.S. dollar on the black market since Maduro came to power in April 2013. A $100 purchase of bolivars then would now be worth just a single U.S. cent. ...
... For the remainder of the report:
https://www.reuters.com/article/us-venezuela-economy/venezuela-knocks-th...
Storage and Withdrawal of Gold with Bullion Star in Singapore
Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.
Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.
Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.
For more information, please visit Bullion Star here:
Join GATA here:
Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/
Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
