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Lyrx [107]
3 years ago
6

The president of Venezuela announced that the country would be devaluating the bolivar for the fifth time in nine years. The off

icial rate is falling from 4.3 bolivar to the US dollar, to 6.3, a 32% devaluation. By increasing the bolivar value of exports of oil to the United States and other nations, the government hopes to alleviate a budget crisis caused by its increasing reliance on borrowing to meet spending obligations. In response to the announcement, the people of Venezuela lined up today to buy televisions, electronics, and airline tickets to protect themselves from projected price increases
What has the president of Venezuela done by devaluating the bolivar?
A. allowed the exchange rate to be set by supply and demand
B. artificially increased the number of bolivars needed to buy one US dollar
C. artificially decreased the number of bolivars needed to buy one US dollar
D. allowed the exchange rate to remain unchanged for the near future
History
2 answers:
Nookie1986 [14]3 years ago
7 0
The president of Venezuela done by devaluating the bolivar by <span>artificially decreased the number of bolivars needed to buy one US dollar. SO the answer to your question would be letter C.  This is because she wants to devaluate the bolivar.</span>
Svetradugi [14.3K]3 years ago
6 0
The answer is B -artificially increased the number of bolivars needed to buy one US dollar
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