Black market dollar in Venezuela reaches record high

According to DolarToday.com, a website that tracks the black market exchange rate for Venezuela's bolívar, the value of the black market dollar in Venezuela surpassed 2,000 bolívares on 21 November 2016, reaching its highest level since currency controls were introduced in 2003. The black market dollar was exchanged for 2,192.65 bolívares, a 50.8 percent devaluation since early October 2016, and registered 3.3 times the value of the Venezuelan government's official floating exchange rate, the Dicom (Globovisión). The Venezuelan government has blamed DolarToday for what it dubs an economic war against the country, and the Banco Central de Venezuela has also attempted to sue DolarToday, which is registered in Delaware, in U.S. courts. According to Foreign Trade Minister Jesús Faría, the website is responsible for currency destabilization and accounts for 70 percent of the inflation in Venezuela (Panorama).