The Value of the Venezuelan Currency Depends All on One Man, in Alabama, Who Works at Home Depot

"It's all about information."

#Money

Mon, Dec 5th, 2016 11:00 by capnasty NEWS

Run by Alabama Home Depot employee Gustavo Díaz, website Dolar Today helps ordinary Venezuelans understand the real value of their mostly worthless currency, the bolivar. The site allows them to "navigate the underground economy," while directly affecting the price of "just about everything in Venezuela."

“We founded this company DolarToday in 2010," Díaz explains, "as a form of protest against the dictatorship because the dictatorship was intimidating and controlling the media on all the information.”

So let's say you have a bunch of bolivars to spend. The official government exchange rate is fixed at 10 bolivars to the dollar. But according to DolarToday, the real street value of the bolivar in Caracas is much lower. It’s now well over 4,000 bolivars to the dollar.

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