April 7 (Bloomberg) -- Venezuela’s bolivar fell to a record low in unregulated trading as the central bank refrains from selling dollar debt in the local market to meet demand for U.S. currency.
The currency sank 1.8 percent to 7.10 per U.S. dollar, the weakest level since President Hugo Chavez imposed currency controls in 2003, before paring losses to close at 7.02, traders said. Venezuelan companies and individuals turn to the so-called parallel currency market when they can’t get government approval to buy dollars at the official rates of 2.6 and 4.3 bolivars per dollar.
http://www.businessweek.com/news/2010-04-07/venezuela-s-bolivar-falls-to-record-low-on-demand-for-dollars.html