FX Week

Venezuela eyes fixed rate for the bolivar

Finance minister Tobias Nobrega said last week that the government would begin attempting to restore the currency’s stability by adopting a fixed bolivar market rate, to be adjusted monthly.

Nobrega did not say at what level the bolivar would be fixed, but said that as the oil industry recovers a dual exchange rate system would be adopted. Local reports suggested a level of around 1,700 bolivars to the dollar may be adopted -- prior to the closure of the FX market, the bolivar had fallen to a

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: