Sunday, 10 January 2010

Hyperinflation in Venezuela with the parallel rate on the internet


Buy the ebook for $2.99 or £1.53 or €2.68

Venezuela is currently in hyperinflation (scooped on this blog - see two posts back) with cumulative inflation over three years of 105.0% as at Dec 2009.

Their parallel rate is freely available on the internet which could make implementing IAS 29 at the daily parallel rate very possible in that country for whoever wishes to save the real values of their company´s non-monetary items from being unknowingly destroyed by their accountants with Historical Cost Accounting during hyperinflation.

Jan 8 parallel rate 6.25 compared to newly announced official pegs: "Oil Dollar" 4.30 and subsidized peg 2.60.

Buy the ebook for $2.99 or £1.53 or €2.68

Kindest regards,

Nicolaas Smith

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