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Venezuela unveils new forex system

Saturday, February 14, 2015 - 05:50

CALCULATED RISK: The move may boost supplies of US dollars to a currency-starved economy but risks spurring inflation amid recession.


VENEZUELA on Thursday unveiled a devaluation of 69 per cent at the opening of a new free-floating currency exchange rate system, part of President Nicolas Maduro's efforts to shore up the Organization of the Petroleum Exporting Countries (Opec) nation's coffers amid tumbling crude

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