Currency Devaluation Layers on More Chaos in Caracas, by Jose Orozco y Fabiola Zerpa

Many Venezuelan shops closed as a precaution as confusion reigned Saturday following measures announced by President Nicolas Maduro aimed at fighting an historic economic crisis in the oil-exporting nation.

The government will enact a massive currency devaluation and an increase in taxes, and will raise gasoline prices. A new version of the bolivar will trade roughly in line with where the black market was, and the government will raise the minimum wage more than 3,000 percent -- a level that still only equates to $30 a month....

EN: https://www.bloomberg.com/news/articles/2018-08-18/confusion-reins-as-mega-devaluation-roils-venezuela?utm_content=business&utm_campaign=socialflow-organic&utm_medium=social&utm_source=twitter&cmpid=socialflow-twitter-business