Venezuela Devalues Currency nearly 32 percent

Reuters: The Venezuelan government announced a devaluation of almost 32% of its currency against the dollar to fight the “outbreak of inflation and speculative” in the country, which keeps track of change from ten years ago and did not adjust its currency since 2011. The devaluation of the bolivar, 31.7 percent, would ease the dollar shortage that has slowed imports and created shortages of food and goods in a country with a strict exchange controls in force a decade ago. Read Article