Sat, Aug 23, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Currencies more

Venezuela says revamping currency control system

Posted on 17 December 2013

Venezuela is boosting the use of the foreign exchange system known as Sicad to increase the amount of local currency it receives from oil revenue, tourism and gold sales, the country’s oil minister Rafael Ramirez said on Monday.
The government’s Sicad system was created to sell dollars through auctions to importers and travelers at a rate weaker than the official fixed rate of 6.3 bolivars. Though the government has not made the Sicad rate public, participants have said it has ranged between 12 and 14 bolivars………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 36568 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

August 2014
S M T W T F S
« Jul    
 12
3456789
10111213141516
17181920212223
24252627282930
31