UPDATE 3-Absent Chavez devalues Venezuelan currency to aid gov't finances

Comments (3)
Maths wrote:

32%? Try 46% as the true wealth grab if you are Venezuelan. Nice try MSM using the post-valuation denominator. Bolivars went from 4.3 to 6.3 so the math choice is:
2/4.3 = 46% Correct
2/6.3 = 32% Wrong

You can’t devalue a currency and then use the new valuation as the basis of comparison! Ludicrous! No wonder we’re in this mess. Zero critical thought!

Feb 08, 2013 4:58pm EST  --  Report as abuse
isaacbonyuet wrote:

Maths: the correct language is the dollar appreciated %46.5 in terms of bolívar. The bolívar depreciated %31.7 against the dollar.

Feb 09, 2013 9:29pm EST  --  Report as abuse
DaxM wrote:

@Maths

I saw the same thing on the BBC website.. with the same 32%.. I sent them an email advising the same as you..Probably they failed grade 7 math or who knows.. maybe they did it on purpose..

Feb 10, 2013 12:30am EST  --  Report as abuse
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