Venezuelans Speak Out Against DolarToday

In New Video, Citizens Criticize Website for Damaging Their National Economy

Nov 20, 2015, 20:24 ET from The Central Bank of Venezuela

CARACAS, Venezuela, Nov. 20, 2015 /PRNewswire/ -- Venezuelan citizens are speaking out against DolarToday LLC, an offshore website that allegedly misrepresents and falsifies Venezuela's national currency rates in an attempt to further destabilize the country's economy.

In a new online video, Venezuelan citizens on the streets of Caracas are asked what they think of DolarToday and what impact it has on the Venezuelan economy. The video is published in Spanish and English versions. The video was sanctioned by the Venezuelan Central Bank, which is suing the operators of the offshore website.

Currency speculators and opportunists have allegedly used the DolarToday website to undermine the Venezuelan economy and enrich themselves. DolarToday is operated by anonymous critics in the U.S.

The Central Bank of Venezuela filed suit in a U.S. District Court on October 23, 2015 to halt the operation of DolarToday. According to the suit, DolarToday fabricates currency exchange rates that it publishes via the company's website and smartphone applications. The rates published by the website do not represent any official Venezuelan fiscal policy.

The lawsuit alleges that DolarToday is damaging Venezuela's economy by exacerbating inflationary pressures, diminishing the purchasing power of the Venezuelan people and undermining the authority of the Central Bank.

Defendants in the lawsuit have yet to publicly respond.

Video - https://youtu.be/1ZERDkCPf68

SOURCE The Central Bank of Venezuela