Venezuela: Crawling pegged rate system retained

According to a Venezuela Online News web site on Jan. 17, the Central Bank of Venezeula (BCV) has indicated that it will maintain the band system in currency exchange in order to control the depreciation of the bolivar. The bolivar will thus remain anchored to a central parity rate of 7.5 per cent in the current "crawling peg" system.

A week before, President Hugo Chavez, citing low inflation and high foreign reserves, indicated that Venezuela might put in place a fixed exchange rate, suggesti

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