Venezuela’s Bolivar Has Biggest Black-Market Fall in Year
March 26, 2014 by Avila Capital Markets, Inc.
Venezuela’s bolivar slid the most on the black market in a year, as the government’s new currency market failed to meet pent-up demand for dollars.
The bolivar fell 19 percent yesterday to 72.82 bolivars per dollar from 58.63 the day before, according to dolartoday.com, a website that tracks the rate on the Colombian border. The bolivar had strengthened on the black market in the past month on anticipation of the new, legal way to buy greenbacks.
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