DolarToday full details and History of DolarToday

DolarToday all details about its history controversy and how  DolarToday Popularity decreases 2019

What is DolarToday

DolarToday Venezuela is an American website that mainly focuses on Latin American politics and finance sectors. The DolarToday twitter is more known for being an exchange rate refers to the Venezuelan bolívar, a currency that is not freely convertible and DolarToday is also known for the company's focus in monitoring the Venezuelan economy.
DolarToday is a Venezuelan-American media company, run by Venezuelans residing in the United States DolarToday also focuses on the exchange control of the Venezuelan economy and for its portal and social networks they are critical of the Venezuelan government. The government of President Nicolas Maduro has described the portal as a means of attack against the Venezuelan economy and of projecting the "economic war". 

History of DolarToday

DolarToday was mainly founded on the 18th of May, 2010 and it is headquartered in Miami, Florida, United States of America. Prior to the election of Nicolas Maduro in 2013, DolarToday was the second most popular exchange rate reference in Venezuela, behind the Lechuga Verde.

 suddenly, when a scandal caused the demise of Lechuga Verde,  then the DolarToday became one of the  most popular exchange rate references

The president of DolarToday is Gustavo Diaz, a Home Depot salesman in Alabama. According to the BBC  Mundo, The DolarToday company was founded mainly for the form as a protest against a dictatorship increasingly committed to silence and intimidate the media in Venezuela.and  until today, the DolarToday company's website publishes criticisms about the Maduro administration which the founder states "are selected by the site’s writers based in Venezuela"

How the popularity of DolarToday Decreases

As hyperinflation in Venezuela grew out of control, prices changed at such a fast pace that Venezuelans no longer relied on the site and would usually set prices on group chats, such as WhatsApp, or through cryptocurrency exchanges.


What were The Exchange rates Of DolarToday

Since the first of its inception, DolarToday company has provided black market exchange rates which are updated daily for Venezuelans who cannot exchange their currencies with the Venezuelan government for the dwindling supply of the US dollar.

The DolarToday company bases its rates computed the Venezuelan bolívar to the Euro or the United States dollar from the fees on trades in Cucuta, Colombia, a city near the border of Venezuela.

 The Economist states that the rates which are being calculated by DolarToday are "erratic", but that they are more realistic than three rates that are released by the Venezuelan government. website maintains that the rates are not being manipulated anything in order to undercut the Venezuelan government.

Today the exchange rate of the Venezuelan currency, monitored and governed by the Central Bank of Venezuela, is been prohibited by the Venezuelan government from being accessed by its citizens. and due to that, the exchange rates posted by DolarToday company are only accessible outside Venezuela.

DolarToday Controversy Details

DolarToday is used as a reference by several finance websites and media around the world when it comes to reporting the Venezuelan exchange rate. In 2013, Venezuelan President Nicolás Maduro banned several internet websites, including DolarToday, to prevent its citizens from accessing the country's exchange rates. Maduro accused DolarToday of fueling an economic war against his government and manipulating the exchange rate.

DolarToday Censorship Controversy

According to the DolarToday, the Venezuelan government had been attempting to censor the website since November 2013.  And In March 2015, in a televised appearance, Maduro told the whole nation that he will ask United States President MR.Barack Obama for the capture of the owners of the company.

 In a press statement which was published on the government's website, Maduro's government said that it will exert all legal means against the company DolarToday in response to defaming the Venezuelan economy. And on That month, the Venezuelan government attempted to censor the website and brought down websites like  Pinterest, Amazon, and snapchat in the process.

Since President Maduro made such comments, DolarToday company began to face blockages of their website almost every hour in Venezuela. DolarToday company then start using mirror sites on content distribution networks, placing cryptic links on their social media pages to such sites since foreign social media sites are difficult for the Venezuelan government to censor. AND Each time a mirror site is blocked by the Venezuelan government, DolarToday company begins to use a new one, with website engineers finding ways to automatically create a new mirror site every 20 minutes.

Lawsuit Against DolarToday

On the date  23rd of October 2015, the Central Bank of Venezuela (BCV) filed a lawsuit against DolarToday company for allegedly falsifying the country's exchange rates. The lawsuit was dismissed by the United States judge on 26th February 2016, with the judge signing that the court did not have the authority to take on the case and that BCV lacked standing to sue.

 In response, BCV filed an amended complaint on the 4th of March, 2016, alleging specific injuries including diminished seigniorage, harm to the reputation of the bank, and deprivation of capital available to the bank.

Reception of DolarToday

Approximately more than one million people visited DolarToday's website daily in 2015.  Android and iOS apps of DolarToday's were also among the most downloaded by mobile users in Venezuela.  DolarToday has more than 3 million Twitter followers, which updating them with the up-to-date exchange rates.

however, The Venezuelan government  has viewed DolarToday as a platform to launch an "economic war" against the government, with Fusion stating:

DolarToday posts are becoming a source of embarrassment to the Venezuelan government.  and This site is essentially reminding Venezuelans how life has become increasingly unaffordable under that country’s socialist management"

According to  the George Selgin, Cato Institute's director of the Center for Monetary and Financial Alternatives, the lawsuit by the Venezuelan government against DolarToday "offers the   remarkable glimpse at the twist logics of totalitarian regimes" and if something weres to happen to the website then the Cato Institute shares the same data and more on their Troubled Currencies Project website. Selgin, regarding the fact that the Cato Institute publishes the same information as  the DolarToday, stated

and if the Central Bank of Venezuela really wants to snuff-out pieces of information concerning their mismanagement of the bolívar, shutting down DolarToday just won’t cut it. it’s going to have to shut us down as well. So how ‘bout it, guys? Our lawyers can’t wait!

Awards and Recognition Of DolarToday

 DolarToday has received many awards in 2014 DolarToday has received a PremiosClick award and was recognized as one of the best 100 websites in Venezuela and one of the best economics websites and it was one of the most popular and controversial company till date.

The official social site of DolarToday company

Official Website of DolarToday Click here to visit
Official Facebook page of DolarToday   Click Here To visit
Official Twitter Page of DollarToday  Click Here To visit
Official Instagram account of DolarToday Click here to visit
Official Youtube Channel  of DolarToday Click here to visit  

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