Four thousand Bolívars to one US Dollar ! With Venezuela on the verge of defaulting on its sovereign debt payments in December, you can now list the country as having reached the highest risk level, for the purposes of Country Risk assessment. At this point, no transactions with Venezuelan companies, government institutions, and even private financial institutions are recommended, unless they are for US Dollars, paid when products or services are rendered.
It is humbly suggested that even dollar-denominated transactions are now very high risk, due to the strong possibility of nonpayment, unless the transaction is payable in advance of the rendering of products or service.
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