The Meltdown in Venezuela’s Currency Is Deepening

The meltdown in Venezuela’ s i9000 currency is deepening as a debilitating dollar shortage and a threat of  oil sanctions  take their cost on the economy. The black-market price for the bolivar traded weaker compared to 8, 700 per dollar initially, according to dolartoday. com on Fri, compared with the official rate of about 10 and a more widely used alternate rate of 2, 757. That’ s creating an illusion just for foreigners observing the country’ s  stock market, which appears to be valued in $2. 57 trillion — larger than Germany’ s, France’ s, India’ s or Canada’ s — but is worth only $3 billion  based on the black-market rate.