Twelve years ago, the Venezuelan government imposed currency controls to try and prevent capital flight.
The system consists of a fixed exchange rate set by the government. The current official rate is 6.3 bolivars to the dollar.
However, on the thriving black market, the rate is around 700 bolivares to the dollar.
Earlier this year, I decided to travel to Venezuela to take a look at the situation on the ground.
Note: The rate in the black market is constantly changing. To find out what the current value is, you can visit www.dolartoday.com