Currency Devaluation Baffles Shortage-plagued Venezuelans

Venezuelans puzzled over the impact of a complicated currency devaluation and fretted that dire product shortages in the OPEC nation's recession-hit economy would not go away. President Nicolas Maduro's socialist government this week launched a 70 percent devaluation via a new "free-floating'' currency system known as Simadi, the third of three-tier exchange controls created by his predecessor, Hugo Chavez. "They're doing this because they don't have...

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