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Venezuela's new dual forex rate to start on Thursday
March 9, 2016 / 4:52 PM / 2 years ago

Venezuela's new dual forex rate to start on Thursday

CARACAS, March 9 (Reuters) - Venezuela’s new dual foreign exchange system, with one rate fixed at 10 bolivars to the dollar and another “floating” from a starting rate of 206 bolivars, will come into operation from Thursday, the vice president for economy said on Wednesday.

Miguel Perez, speaking at a news conference, reiterated that the OPEC nation’s socialist government was “religiously” honoring its foreign debt payments and did not have solvency problems despite the current “economic emergency.” (Reporting by Brian Ellsworth and Deisy Buitrago; Writing by Andrew Cawthorne; Editing by Girish Gupta)

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