Venezuela's new forex system sold dollars at 51.8 bolivars

CARACAS, March 24 Mon Mar 24, 2014 7:20pm EDT

CARACAS, March 24 (Reuters) - Venezuela's central bank said its new Sicad 2 foreign exchange system sold dollars at a rate of 51.8 bolivars per greenback during its inaugural session on Monday.

That price was well above the country's two existing official currency exchange rates of 6.3 and around 11 bolivars, but not far below the black market level of 57 to 58 bolivars. (Reporting by Eyanir Chinea; Writing by Daniel Wallis; Editing by Eric Walsh)