Quico says: So speaking to reporters the other day, Planning Minister Haiman “Orwelito” El Troudi accepted that the last few rounds of sovereign bond issues have created an “implicit price” for the dollar that’s above the official rate.
(Why? Simple…now you can buy Bs.F 3.3(ish) worth of bonds and immediately resell them for $1. Every part of the transaction is legal. So, in effect, there’s a second legal price for the bolivar that’s higher than the official Bs.F2.15/$.)
“But,” El Troudi quickly added, “that flexibilization will never derive into a differential system in any of its forms, such as a dual exchange rate. There shall be one exchange rate.”
Which is a lot like saying that yes, admittedly, your sister does trade sex for money, but that will never derive into prostitution in any of its forms…Caracas Chronicles is 100% reader-supported. Support independent Venezuelan journalism by making a donation.