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"The Tooth of Crime" presents that history as a progressive devaluation, from soul to soullessness.
Mr. Chávez set one rate for most imported items, ranging from cars to construction materials, at 4.30 bolívars to the dollar, a 100 percent devaluation from the previous rate of 2.15.
Argentina, which has shed the currency straitjacket it wore for a decade to ward off inflation, is trying to stop its devaluation from bringing a return of price rises that could reignite unrest.
Earlier headlines Yahoo Says Holiday Shopping Rose 86% Kmart Says Holiday Sales At Low-End Of Forecasts OPEC Likely To Announce Oil Cut Friday Argentines Fear Devaluation From Currency Moves.
Facebook and Zynga have experienced similar roller coaster-like devaluation from their peak stock valuations, and they've been partners for years, which is why MarkZ and MarkP often get lumped together in the same sentence by fearful investors whose stock is underwater: "Facebook and Zynga (insert analysis here)." Such bundling masks a deeper structural truth.
Earlier headlines Argentines Fear Devaluation From Currency Moves OPEC Likely To Announce Oil Cut Friday New York Life taps Haier for China venture partner Two Senators Ask FTC To Probe Enron Argentina's New Leader To Print Cash To Create Jobs Coors Buys Carling Brewers For $1.7 billion Knight Says It Bought Specialist Rights From KFT U.S. Corporate Credit Sinks To 10-Year Low.
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Goldman Sachs is forecasting a dollar-lira rate of 2.2, representing a 15 percent mini-devaluation from the current level of 1.95.
Europe may be facing a similar dilemma now, even though it has a single currency, the Euro, that removes currency devaluations from the equation for most countries.
And this devaluation worked: from 2003 onward, Argentina experienced a rapid export-led economic rebound.
Argentina tried the "internal devaluation" strategy from mid-1998 thethendnd of 2001, suffering through a depression that pushed half the country into poverty.
To stop the currency devaluation dominoes from falling, fire walls had to be set up to contain the spread of the blaze started by the Mexican devaluation.
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