Venezuela's unofficial exchange rate broke through 500
bolivars per dollar on Friday, according to a widely used website, as the
socialist-run country's currency control system struggles to meet keen demand
for greenbacks. The rate weakened to 501.21 bolivars per dollar on Friday,
clocking a 65 percent tumble this year, according to DolarToday, which says it
publishes the figure based on currency trades along the Colombian border. A
severe recession and a fall in oil prices have slammed the OPEC nation's
ability to provide dollars through a complex three-tiered currency control
system. More… 
Monday, July 6, 2015
Venezuela's unofficial exchange rate weakens past 500 per dollar
Venezuela's unofficial exchange rate broke through 500
bolivars per dollar on Friday, according to a widely used website, as the
socialist-run country's currency control system struggles to meet keen demand
for greenbacks. The rate weakened to 501.21 bolivars per dollar on Friday,
clocking a 65 percent tumble this year, according to DolarToday, which says it
publishes the figure based on currency trades along the Colombian border. A
severe recession and a fall in oil prices have slammed the OPEC nation's
ability to provide dollars through a complex three-tiered currency control
system. More… 
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