Posted on 06/10/2010 11:44:47 AM PDT by C19fan
Venezuela launched a tightly regulated currency market where the bolivar traded at 5.3 per U.S. dollar on Wednesday in the latest effort by President Hugo Chavez's socialist government to steady the economy. Authorities in South America's top oil exporter want to halt the depreciation of the bolivar and stem capital flight as they battle recession and high inflation ahead of legislative elections in September.
(Excerpt) Read more at reuters.com ...
and its Bloomberg doing the contracting.
yes. Hugo has really messed everything up in VeneZimbabwe.
Bad money chases out good money. It’s a law...........
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