Venezuela's Revised `Floating' Bolivar Is Falling Fast: Chart

Venezuela’s bolivar has weakened 17 percent since the government revised an alternative, “floating” mechanism on March 10. The modified system, which started selling dollars for about 207 bolivars, last traded at around 249 per dollar on Monday. While the rate has weakened about 2.3 percent each day, the bolivar still has a long way to fall to catch up with the illegal black market rate, where a greenback can buy as much as five times more.

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