Economist Pedro Palma said Venezuela's inflation rate could be between 180% and 200%. He warned that people will cut spending ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Venezuela’s authoritarian socialist government is cracking down on the use of black market dollars as it ...

MARACAIBO, Venezuela (AP ... currency in the official market in the face of growing demand, and those who couldn’t get foreign currency began to move to the black market, a very small ...

The new rate is still dwarfed by the black market rate for greenbacks, currently at 228,000 bolivars per dollar according to website DolarToday Venezuela’s central bank announced a devaluation ...

“Before the Chevron license, Venezuela sold all its oil on the black market, pocketing every dollar. With the license, most of the oil revenue [from joint ventures with Chevron] went to pay off ...