Venezuela’s Largest Bill Buys 16 U.S. Cents After 30% Plunge
Bolivar notes are placed in a counting machine in this arranged photograph taken in Caracas, Venezuela, on Wednesday, Feb. 13, 2013.
Photographer: Meridith Kohut/BloombergThis article is for subscribers only.
Venezuela’s largest bank note of 100 bolivars is now worth about 16 U.S. cents on the black market, following a 33 percent plunge in the past month.
The currency weakened to 616 per dollar Thursday, meaning the greenback fetches 100 times more bolivars in the black market than it does at the primary official rate, according to data compiled by foreign-exchange website dolartoday.com.