According to the Central Bank of Venezuela, Venezuela’s new
exchange market, to be governed by unregulated supply-and-demand mechanisms,
began operations Thursday with a rate below that of the black market, DPA
reported. The market opened with an exchange rate of 170.03 Bolivars to the
dollar, a rate below that of the black market dollar, valued at 190 Bolivars. Analysts
said that these new operations signify a massive devaluation in relation to the
other regulated exchange rates. According to the government, the new mechanism
will afford individuals and companies partial access to the exchange market,
which continues to be subject to the exchange mechanisms in place since 2003.
More… 
Monday, February 16, 2015
Massive Devaluation in Venezuela
According to the Central Bank of Venezuela, Venezuela’s new
exchange market, to be governed by unregulated supply-and-demand mechanisms,
began operations Thursday with a rate below that of the black market, DPA
reported. The market opened with an exchange rate of 170.03 Bolivars to the
dollar, a rate below that of the black market dollar, valued at 190 Bolivars. Analysts
said that these new operations signify a massive devaluation in relation to the
other regulated exchange rates. According to the government, the new mechanism
will afford individuals and companies partial access to the exchange market,
which continues to be subject to the exchange mechanisms in place since 2003.
More… 
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