Is Venezuela's Bolivar In Free Fall?

Venezuela’s currency, at 683.26 bolivars to the U.S. dollar, has tumbled from 500 at the start of the month and is in free fall, the Financial Times asserts in an article today. Venezuela’s money supply expanded 85 percent over the past year, and the bolivar’s value on the black market is less than one hundredth of the government rate, the FT reports. It’s a crisis for President Nicolas Maduro, and for businesses still tied to the Venezuela economy. One example: American Airlines (AA) is no longer accepting bolivar payments for airline tickets, the FT notes. More…