Venezuela said on Wednesday a new foreign exchange platform
being created as part of the OPEC nation's three-tier currency controls would
trade "totally freely". Foreign Minister Rodolfo Marco added that 70
percent of the Venezuela economy's needs would, however, be covered by the
strongest fixed rate of 6.3 bolivars to the U.S. dollar which is intended for
preferential food and medical products. Another system, known as Sicad, would
sell dollars for 12 bolivars, the minister said in a news conference. Details
of the new exchange regulations are to be published on Wednesday in the
government's Official Gazette, he added. More…
Wednesday, February 11, 2015
Venezuela says new forex platform will be "totally free"
Venezuela said on Wednesday a new foreign exchange platform
being created as part of the OPEC nation's three-tier currency controls would
trade "totally freely". Foreign Minister Rodolfo Marco added that 70
percent of the Venezuela economy's needs would, however, be covered by the
strongest fixed rate of 6.3 bolivars to the U.S. dollar which is intended for
preferential food and medical products. Another system, known as Sicad, would
sell dollars for 12 bolivars, the minister said in a news conference. Details
of the new exchange regulations are to be published on Wednesday in the
government's Official Gazette, he added. More…
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