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The Venezuelan bolivar, the once prosperous currency, has struggled to recover after a period of massive hyperinflation. The collapse saw the country’s economy shrink by three-quarters.

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

Because of the hyperinflation process, as of next October the Venezuelan currency, Bolivar, will lose six zeroes, the central bank announced on Thursday, This is the third time in thirteen years ...

Venezuelan government devalued its bolivar currency for the second time in 12 months on Thursday, abolishing the lowest exchange rate as the Opec member fights to revive its economy. Intended to ...

Central Bank of Venezuela’s uphill battle Faced with a skyrocketing demand for foreign currency, the Central Bank of Venezuela (BCV) found itself shedding about $632 million in the last quarter ...

In a bid to circumvent U.S. sanctions, the government of Venezuela is experimenting with converting tax revenue into bitcoin and trading it for fiat currency at foreign exchanges. In a bid to ...