January 25, 2018 / 2:55 PM / 9 months ago

Venezuela to hold new DICOM currency auction in euros

CARACAS, Jan 25 (Reuters) - Venezuela will hold its new DICOM currency exchange auctions in euros, the central bank said on Thursday, as the socialist government seeks to move away from transactions in U.S. dollars.

President Nicolas Maduro’s government, which is called a “dictatorship” by Washington and faces some U.S. financial sanctions, has also begun pricing its oil barrel in yen.

The DICOM system, which had been dormant since late last year, used to offer dollars for bolivars. (Reporting by Corina Pons; Writing by Andrew Cawthorne; Editing by Leon Wietfeld)

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