Nicolas Maduro may have gone too far, and now even allies are turning against him.
On the black market, a U.S. dollar can fetch around 3,000 Venezuelan bolivars.
The extended slump in oil prices has turned the OPEC nation's once-prosperous oil-boom economy into a mirror of the latter day Soviet Union.
Oil prices have fluctuated on comments the OPEC might agree to an output cut. But the meeting might not be enough to raise prices.
Venezuela issued a decree that "effectively amounts to forced labor" in an attempt to stabilize a food shortage, says an Amnesty International report.
As his country's economy implodes around him, Venezuelan strongman Nicolas Maduro has resorted to what may be a last-ditch effort to stay in power.
Citigroup shares rose nearly 2.5 percent after the global bank said its unit would cease the servicing of certain accounts in Venezuela.
Analysts discussed the outcomes they believe will result from Maduro's approach to dealing with the Venezuelan crisis.
With delivery trucks under constant attack, the nation's food is now transported under armed guard. Venezuela is convulsing from hunger.
Lufthansa has cancelled its flights to Venezuela in the latest sign of the country’s growing isolation and economic, social and political turmoil.
Two bond investors explain why they own Venezuelan debt despite the country's problems.
The opposition leader accuses President Nicolas Maduro of "putting himself above the constitution" by imposing emergency powers, the BBC reports.
While experts say other countries would have defaulted already, Venezuela continues to scrape by to make bond payments. Here's why.
Venezuelans will head to the polls this Sunday and, for the first time in 16 years, the opposition is the clear favorite to win.
Venezuela, its economy shattered, increasingly looks like a powder keg as its parliamentary elections draw near.
With inflation ravaging the Venezuelan economy, food prices rose by 22.2 percent in August from the previous month.
Venezuela is on the brink, and the country's debtholders, trade partners and neighbors are bracing for the fallout.
Venezuela may be down to its last lifeline as oil prices continue to plummet, and the country needs financial backing more than ever.
Days after OPEC decided not to give into Venezuela's plea to cut oil production, Caracas is on a cash-searching mission.
For Saudi Arabia, blocking cuts in oil production protects market share. But for Venezuela, it may mean "game over" for the economy.