Bolivar Plunges in Black Market as Venezuelans Stash Dollars
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Venezuela’s largest bill of 100 bolivars is now worth less than a U.S. quarter to money-changers after a plunge in the currency’s black-market value.
The bolivar fell 25 percent on the black market last week to 423 per dollar before strengthening to 413 today, according to dolartoday.com, a website that tracks the rate on the Colombian border. That’s 66 times the primary official rate of 6.3 bolivars per dollar, and means the 100-bolivar bill fetches about 24 U.S. cents from illegal street dealers.