Venezuela Will Retain Right to Intervene in New Forex Market
- Vice president of the economy comments in interview in Caracas
- New exchange rate system to come into effect on Monday
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Venezuela’s government will intervene in a new foreign-exchange market when needed to prevent the world’s fastest inflation from accelerating still further, said Vice President of Economy Miguel Perez Abad.
“In the moment when distortions are generated, we as any state would, will
intervene,” Perez Abad said in an interview in Caracas Thursday. “We don’t want to intervene. The idea is that the exchange rate floats as a function of supply and demand.”