Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
Venezuelan Vice-President Nicolas Maduro returned from visiting cancer-stricken President Hugo Chavez in Cuba and announced the nation would be devaluing it’s currency against the U.S. dollar by 32 percent.
The move raises the official exchange rate of their currency, the bolivar, from 4.3 to 6.3 for every U.S. dollar.
The move had been expected by analysts who say the move should increase the cash in the short term for the government. This is the fifth time under dictator Chavez that the currency has been devalued against the dollar. The last devaluation came in 2010.
Chavez instituted strict policies to keep currency from leaving the country meaning that U.S. dollars are extremely hard to come by in the nation and have been trading on the black market at rates four times the official exchange rate.
The policies and actions make it harder for the average Venezuelan to purchase necessary items. While residents do not use U.S. dollars often, importers routinely use the currency and the restrictions and devaluing means they will not be able to purchase the current levels of product. This produces food shortages and require residents to continually search stores for necessary items like rice, flour and oil.
