Venezuela’s Biggest Bill Buys Buck on Black Market as Bonds Due
This article is for subscribers only.
A dollar fetched 100 bolivars on Venezuela’s black market for the first time yesterday as the government limits companies’ access to official exchange mechanisms.
A greenback traded for 100.5 bolivars on the Colombian border yesterday, compared with the three-tiered official exchange system ranging from 6.3 to 50 bolivars, according to dolartodar.com, a rate-tracking website. This means Venezuela’s largest bill of 100 bolivars is worth less than the smallest bill issued by the U.S.