Venezuela devalues strongest official bolivar exchange by 37%

Venezuelan President Maduro has decided to devalue the strongest official bolivar exchange rate to 10 per dollar from 6.3, a 37%.

As Reuters reports, Maduro also "turned a three-tier exchange rate system into a dual system as part of a package of measures meant to address the OPEC nation's economic crisis."

"The SIMADI exchange rate, which is around 203 bolivars per dollar, will be turned into a floating rate, he added in a televised broadcast", Reuters adds.