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In September 2014, the currency black market rate for the hard bolívar reached 100 VEF/USD; [65] on 25 February 2015, it went over 200 VEF/USD. [66] on 7 May 2015, it was over 275 VEF/USD and on 22 September 2015, it was over 730 VEF/USD. [67] Venezuela still had the highest inflation rate in the world in July 2015. [68]
In July 2016, Colombian border crossings were temporarily opened to allow Venezuelans to purchase food and basic health items. [128] In September 2016, a study [ 129 ] indicated 15% of Venezuelans were eating " food waste discarded by commercial establishments". 200 prison riots had occurred by October 2016.
The currency strengthened to Rp8,500 later in 2001 but ended 2001 at Rp10,505. March 2002 had the currency break below Rp10,000, from which point the currency maintained a rate in the Rp8,000s and Rp9,000s until August 2005, and in the latter half of that year, the trading range extended towards Rp11,000, but ending the year just below Rp10,000.
Following the death of President Hugo Chávez, Venezuela faced a severe socioeconomic crisis during the presidency of his successor, President Nicolás Maduro, as a result of their policies.