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Venezuela’s currency continues dramatic decline

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CARACAS, Venezuela — Capital flight, political instability and misguided attempts to rein in double-digit inflation are being blamed for the weakening of Venezuela’s currency on the black market, where it has fallen more than 75 percent against the U.S. dollar since April.

The sharp drop in the value of the bolivar has occurred as economic problems grow more acute for President Nicolas Maduro, the late Hugo Chavez’s handpicked successor, and political divisions between Chavistas and the opposition become wider and more violent.

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