Answering myths and truths about the bills of Venezuela (VEF)
Image source | Design: RoxanaC
The acquisition of goods, services or products has been common in societies, allowing their growth and making transactions feasible. In its origins this activity was merely limited to barter or exchange among the beneficiaries, its limitations were many and by this need we managed to create a currency as a means that represented a value for all.
Simply the Currency allows us to acquire almost anything. However, in Venezuela, the situation is different,
Venezuela presents a serious economic crisis, so far in years of revolution, the zeros constantly increase and the government eliminates them through monetary reconversions.
Simply the Currency allows us to acquire almost anything. However, in Venezuela, the situation is different,
Venezuela presents a serious economic crisis, so far in years of revolution, the zeros constantly increase and the government eliminates them through monetary reconversions.
What is a reconversion?
It is the elimination of the zeros in the bills and systems. Computer systems, calculators and even the same people can be confused with such high amounts just to buy a candy, the immediate solution is to execute a reconversion.
Why are there cash prices and prices for electronic operation?
When you buy a product if the payment is in a ticket it has a lower value than the one executed by point or transfer. The answer lies in the fact that the bolivar (VEF) is bought in our borders where foreigners do not have an account, and their change from dollars to bolivars is in bills, they do not have an option to transfer them, and the demand is high. I am not blaming the Colombians for the monetary crisis, but it does make the exchange houses or individuals look for the bills in cash to make the exchange simple and direct.
Can the value of the bolivar change in hours?
Yes. Since the country does not produce foreign currency and its inhabitants are under control, where they can not acquire foreign currency in banks, they must go to the black market, there to acquire $ 1 you must pay high amount in bolivars. It is an offer and demand game, where Dolartoday.com is no longer, people are guided to establish the change.
If I bring $ 100 to Venezuela can I live like a king?
Many people believe that with $ 100 in Venezuela you can stay in 5-star hotels and enjoy a country that lives in poverty, but honestly I must tell you that $ 100 would work for you. food, basic services (electricity, water, Internet), the pleasures such as travel, furniture, houses, vehicles are left out of this list. And most luxuries in Venezuela remain dollarized, costing a 5-star $ 50 room like in any other nation.
What use do you give to the bills that totally lost their value and are not even received by the banks in the country?
Despite the fact that its nominal value is non-existent, as there are many notes that are in this condition, Venezuelans began the elaboration of handicrafts, bags, purses, wallets and even sculptures, in My personal opinion of a lot of creativity and beauty, gave him a use as raw material for his confections.
How many coins does Venezuela have, bs strong, bs sovereign, petros?
Recently, President Maduro announced the entry into force of a cryptocurrency, PETRO, but it is not known how it will be circulated and / or acquired in the international market. where the true value of a coin is taken. There are really many currencies that have come out of this government, we are living with the strong, sovereign and petros.
In summary, I think that the Venezuelan currency has no value, since its owners only use it to exchange it for products or a currency that preserves its value as the dollar or gold. Recovering the value of the national currency should be promoted purely with production, but this game will become a loop where we will always be doing reconversions, since the country has no productive means to maintain a real value of its currency.
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