Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Venezuela Charges 10 Brokers for Illegal Currency Market Trading

Ten directors of Venezuelan brokerages who were arrested last year on suspicion of participating in a parallel currency market have been formally charged, the Venezuelan attorney general’s office said in a statement today.

Four directors of Econoinvest Casa de Bolsa CA, formerly Venezuela’s largest brokerage, were accused of illegally selling foreign currency and conspiracy, the statement said. Directors from Positiva Sociedad de Corretaje, Venevalores Casa de Bolsa, Multinvest Casa de Bolsa and Banvalor Casa de Bolsa were also charged. All the brokerages have since been shut down by the government.

President Hugo Chavez stepped up currency controls last year by shutting down an unregulated market in which brokerages obtained foreign currency for importers by swapping bonds for dollars. He accused the bond houses of speculation and stoking inflation after the bolivar slid to a record low of 8.2 bolivars per dollar in May 2010.

Chavez’s government sets an official exchange rate of 4.3 bolivars per dollar while permitting some dollar purchases at 5.3 per dollar through a central bank-administered market set up last year to replace the parallel market.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.