Venezuela's unofficial exchange rate weakens past 500 per dollar

CARACAS: Venezuela's unofficial exchange rate broke through 500 bolivars per dollar on Friday, according to a widely used website, as the socialist-run country's currency control system struggles to meet keen demand for greenbacks.

The rate weakened to 501.21 bolivars per dollar on Friday, clocking a 65 percent tumble this year, according to DolarToday, which says it publishes the figure based on currency trades along the Colombian border.