Venezuelans Dollarize Christmas Bonuses as Bolivar Dives
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The bolivar declined the most this month since January as Venezuelans use their Christmas bonuses to buy U.S. dollars amid the world’s fastest inflation and shortages of basic goods.
A dollar fetched a record 128.18 bolivars on the Colombian border today, compared with the official exchange rate of 6.3 bolivars, according to dolartoday.com, a rate-tracking website. The currency has lost 20 percent of its value in unofficial trading this month.