Friday, April 20, 2007

Venezuelan Currency Falls Versus Dollar as Demand Exceeds Official Rate

(Bloomberg) -- Venezuela's currency fell in unregulated trading as the government's sale of dollars at the official exchange rate failed to meet corporate demand.

The bolivar fell 0.7 percent to 3,650 to the dollar in the parallel market at 11 a.m. New York time from 3,525 yesterday. The government has the bolivar pegged at an official exchange rate of 2,150 per dollar under currency restrictions it imposed in 2003.


Read more at Bloomberg Currencies News

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