By devaluing the Bolivar, the president of Venezuela has artificially decreased the value of the national currency.
What this does it make it more expensive to buy US dollars. In the last 2-3 years, there has been a flight of billion of US dollars out of Venezuela due to the economic disaster looming in the country.
By making it more expensive to buy US Dollars, the President of Venezuela is hoping to decrease the flight of money from the country and protect local reserves.
To what extent this actually works, we will have to see. In many developed countries or countries with a healthy economy, such a strategy might work. However, in the case of Venezuela, the economy is so bad, that even the devaluation of the Bolivar might not help solve much.
Yes? Lol what does that mean?
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The Rosetta Stone is a slab of written stone found on 15 July 1799 in Rosetta, in northern Egypt. It is an incomplete piece of black basalt stone that contains a statement made by king Ptolemy V in both Greek and Egyptian languages.
Its importance lies in the fact that it was the piece of information that allowed linguists to decipher the meaning of the hieroglyphic writing of ancient Egypt, since being also written in Greek (a language known by these), it allowed to carry out a cross translation between these languages. Thus, for the first time the meaning of the hieroglyphs could be transcribed, which later facilitated the acquisition of information regarding ancient Egypt.
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appeasement, Foreign policy of pacifying an aggrieved country through negotiation in order to prevent war. The prime example is Britain's policy toward Fascist Italy and Nazi Germany in the 1930s.
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