Review on EcoDollar by francis fernandez
exchange portal of the Venezuelan currency in relation to the dollar
The reality of the Venezuelan economy is the existence of a parallel value of the legal tender (the bolivar) in relation to the US dollar.
This is just a consequence of the non-existence of permanent and well-structured exchange policies regarding the management of the prices of goods and services in the country.
In this sense; The Venezuelan population lives an exchange reality that subjects it to a permanent hyper-inflationary process due to the co-existence of two fiat currencies; one official (the bolivar) and another parallel (the US dollar).
To show this reality, many pages and web portals have emerged that show daily and several times a day, the changes that the bolivar undergoes against the dollar.
However, a more technological and scientific initiative has emerged called Eco dollar that seeks to facilitate the life of the Venezuelan in the face of exchange uncertainty by summarizing the variations in prices of the currency in a digital portal and offering an average value of the main prices of the bolivar daily. in certain hours, expressed in $.
What does this calculation method consist of?
It consists of calculating an average value at different times of the values of the extra-official portals.
For this calculation, queries are made with a frequency of 4 times in 1 day at different times and based on this information a record is created that is stored in the platform to create indicators with a more scientific basis.
Undoubtedly, Eco Dollar helps reduce exchange rate uncertainty for Venezuelans.
Pros
- Consolidate in a digital portal the prices of the Bolivar against the dollar
- Not for profit
- Fair content page
- Shows updated information
Cons
- Lacks accurate quote calculation measurements
