Venezuela devalues the Bolivar

This is a very good article about currency devaluation, where Venezuela operates a different system to most countries with 2 exchange rates (1 for essential goods, and 1 for luxuries).  It is very good issue for thinking about the link between exchange rates and inflation (International economics part of the syllabus), and also evaluating the costs and benefits of having 2 exchange rates as opposed to the standard 1.

BBC article – Venezuela will slash value of currency, the Bolivar