10973
Venezuela Frees Forex System
World Economy

Venezuela Frees Forex System

Venezuela allows a free-floating exchange rate for the country’s currency, Sputnik reported. Finance Minister Rodolfo Marco Torres said the new system would be “totally free” with “the market itself setting the exchange rate.” But officials said trades would have to be made through authorized banks or exchange houses and only people with dollar-denominated bank accounts can take part. For 70% of crucial imports, including medicines and other staples, the exchange rate will remain the current 6.3 bolivars per one US dollar. For the remaining 30% of consumer goods the rate is changing to 12 bolivars for one greenback.

 

Short URL : http://goo.gl/Icicly

You can also read ...

Poland to Maintain Solid Growth
Polish economy’s all significant macro fundamentals appear...
Zimbabwe is in arrears of nearly $1.8 billion  to the World Bank and ADB .
The International Monetary Fund Thursday said it was ready to...
While the tariff conflict may still be in its infancy,  global trade growth rate has almost halved.
The global economy will continue to expand strongly in the...
King Khaled International Airport
Saudi Aramco may have grabbed the biggest headlines, but the...
Imran Khan Says Economic Revival a Priority
Pakistan Prime Minister Imran Khan on Thursday said that the...
Wells Fargo Will Cut Workforce
Wells Fargo & Co said on Thursday it would reduce its...
Global Stocks Hit 6-Month High
World shares hit their highest levels in more than six months...
Premier Li Keqiang has  voiced confidence in China’s ability to overcome obstacles.
Chinese officials are shrugging off warnings that the trade...

Trending

Googleplus