Venezuela's currency in freefall

VENEZUELA - Venezuela's currency has plummeted 25% against the US dollar after the government scrapped five-year-old exchange rate controls.

President Hugo Chavez made the surprise decision to scrap the bolivar's trading band on Tuesday.

The bolivar weakened to as low as 1,001 to the dollar on Wednesday before closing at 981 compared with 795 on Friday, the Central Bank of Venezuela reported.

The mood on the street was angry and frustrated, with Venezuelans warning of dire consequences to come,

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