Wage and Exchange rate linked to Petro in Venezuela

Wage and Exchange rate linked to Petro in Venezuela

Nicolas Maduro, the Venezuelan President, has declared the plan to link the national currency exchange rate to the state-launched cryptocurrency, Petro. The country’s minimum wage rate would also be anchored to Petro. Maduro stressed, “I am petrolizing salaries and petrolizing prices. We are going to convert the petro into the reference that pegs the entire economy’s movements.”

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