OPEC member Venezuela's black market
exchange rate weakened below 250 bolivars per dollar on Wednesday, according to
a widely referenced website, as a new foreign exchange platform struggles to
satiate avid demand for dollars. The bolivar has weakened 32 percent since the
start of the year to fall to 255.43, according to website DolarToday, which
says it publishes the black market rate based mostly on currency trades along
the Colombian border. Venezuela last month opened a "free-floating"
currency exchange mechanism known as Simadi which currently sells dollars for
177.7 bolivars, in a bid to drive down the black market and ease shortages of
goods including toilet paper, milk, and medicines. More…. 
Thursday, March 5, 2015
Venezuela black market rate weakens below 250 bolivars per dollar
OPEC member Venezuela's black market
exchange rate weakened below 250 bolivars per dollar on Wednesday, according to
a widely referenced website, as a new foreign exchange platform struggles to
satiate avid demand for dollars. The bolivar has weakened 32 percent since the
start of the year to fall to 255.43, according to website DolarToday, which
says it publishes the black market rate based mostly on currency trades along
the Colombian border. Venezuela last month opened a "free-floating"
currency exchange mechanism known as Simadi which currently sells dollars for
177.7 bolivars, in a bid to drive down the black market and ease shortages of
goods including toilet paper, milk, and medicines. More…. 
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