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Oops that doesn't sound well so what are the government doing to recover back the lost funds.In the case of my country, one of the great disadvantages is the monetary devaluation, you have an amount for a certain value and after 15 days it is already half the value. Right now it is not recommended to have money in the banks here. On the other hand, several banks have closed and many people have lost their capital.
I understand that some people recovered part of their savings, through the government but many others lost everything. It is unfortunateOops that doesn't sound well so what are the government doing to recover back the lost funds.
How does a currency devaluation affects the money in the bank? I think currency devaluation affects exports and imports not the money in the bank ...please shed more light into thisIn the case of my country, one of the great disadvantages is the monetary devaluation, you have an amount for a certain value and after 15 days it is already half the value. Right now it is not recommended to have money in the banks here. On the other hand, several banks have closed and many people have lost their capital.
Here in my country, they are valuing the currency based on the dollar, the price of the dollar rises almost daily. Example last week 1 $ was at 750,000.00 bolívares, today 1 $ is at 962,000.00 bolívares. When you go to buy, all prices are based on the dollar, the bolivar loses its value being in the bank and even having the money in cash. the best way to cope is to have dollars.How does a currency devaluation affects the money in the bank? I think currency devaluation affects exports and imports not the money in the bank ...please shed more light into this
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