Venezuela Plans New Dollar Auction to Fight Black FX Rate
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Venezuela will hold a second dollar auction on a complementary currency system created last month after presidential elections are held on April 14, Oil Minister Rafael Ramirez told reporters yesterday during an interview.
The South American country won’t publish the exchange rate used in future auctions, he said. It will publish a schedule for the sales and plans to make them more accessible to importers, Ramirez, who sits on a new currency supervising board, said from his Caracas office.