Venezuela’s Black Market Comeback Hints at Looming Devaluation
- After months looming in the background, Venezuela’s black market is back.The difference between the black market price to buy dollars and the official rate is blowing out after months of relative stability. In just one week, the bolivar has depreciated 18% against the dollar on the streets where the currency is traded informally, now costing 10,130 bolivars, according to MonitorDolarVzla, which compiles the average of a myriad of sources. That compares with 7,336 bolivars at the official rate.After years of an artificially strong official ...
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