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4 years ago
Venezuela to hold $100 mln currency auctions each week -Ramirez
October 11, 2013 / 4:42 PM / 4 years ago

Venezuela to hold $100 mln currency auctions each week -Ramirez

CARACAS, Oct 11 (Reuters) - Venezuela will auction $100 million at weekly central bank auctions through a complementary foreign exchange system aimed at easing access to hard currency for local businesses, a top government official said on Friday.

Petroleum Minister Rafael Ramirez, who was also named as vice president for the economy earlier this month, said the new, more-regular auctions of the Sicad exchange mechanism would begin next Wednesday and be held every week thereafter.

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