More matter with less art

Weak Dollar? Blame Evo

This morning, Bolivia’s Central Bank announced in a communique that it was lowering the exchange rate of the Bolivian Peso (BOB, aka “El Boliviano”) by 1 cent, with the sell now set at 7.06 (was 7.07) to the US Dollar and the buy at 6.96. This slight appreciation is part of the crawling peg system used (very successfully) by Bolivia and reflects demand for the local currency.
All fair enough and not a big deal, but it has brought up the IKN “Dumbass Biz Headline of the Day” award handed to Disassociated Press via El Nuevo Herald:

“Bolivian Government Devalues The Dollar”

Seriously, who writes this piffle? Since when can the government of Bolivia devalue the United States currency? Sure they’ve appreciated their own currency but FerCryinOutLoud, it shows just how little these hacks knows about their subject matter.

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