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 Dollar soars on Venezuela's new currency exchange

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Dollar soars on Venezuela's new currency exchange Vide
PostSubject: Dollar soars on Venezuela's new currency exchange   Dollar soars on Venezuela's new currency exchange Icon_minitimeFri Feb 20, 2015 2:01 am
The Venezuelan bolivar opened Thursday at 172 to the dollar on the first day of a government-sponsored exchange meant to compete with the black market.

Dollar soars on Venezuela's new currency exchange D3bc63ff7e1684ba4bcff89dcd5c9fb661f2dc4f_original

The opening rate was 27 times the official rates of 6.3 to the dollar, available only for priority imports like food and medicine.

The leftist government of President Nicolas Maduro earlier this month partially liberalized the country's system of strict currency controls by allowing banks and brokerage houses to sell dollars at what the market will bear.

The amount of dollars that can be bought on the new exchange is limited, however, and demand for the greenback was undiminished on the black market, where the dollar was trading at 190, up from earlier in the week.

https://au.finance.yahoo.com/news/dollar-soars-venezuelas-currency-exchange-083657541.html
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