New Venezuela forex system offers dollars for 50-55 bolivars

CARACAS, March 24 Mon Mar 24, 2014 1:55pm EDT

CARACAS, March 24 (Reuters) - Venezuela's new Sicad 2 foreign exchange system sold U.S. dollars at a rate of between 50 and 55 bolivars in thin trading during its inaugural session on Monday, participants said.

That price was far above the country's two existing official currency exchange rates of 6.3 and around 11 bolivars, but only just under the black market level of 57-58. (Reporting by Andrew Cawthorne; Editing by Daniel Wallis)

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