IKN

a plague o both your houses

Chart of the day is…………

……..the Venezuelan Bolivar Fuerte/US Dollar parallel rate, August 11th to date. Special delivery for those currently visiting Venezuela from foreign parts (e.g. Rafael Correa, da Borev etc)

We last looked at this about four weeks ago just after it spiked to 6.0. Since then it’s been quiet, with the bid revolving around 5.0 or so. However, the last two years have seen the parallel rate dropping in December, probably due to a whole bunch of locals liquidating savings in order to buy 18 year old single malt scotch.

So for all you loyal (?) readers in Caracas (mostly) and Maracaibo (yeah…you…you know I mean you), Otto humbly suggests spending a few of those dollars in your salary cheques on VEFs and stocking up supplies of local moolah as soon as possible.

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