Venezuelan president agrees to relax controls

Venezuelan President Hugo Chavez said Sunday that the country's strict exchange controls loosened to allow access to U.S. dollars. Chavez did not specify how the controls would be eased, however.

Source: Associated Press

President Hugo Chavez rejected calls for an end to strict exchange controls but said the rules could be made more flexible to ease access to U.S. dollars.

"We always said we would make the exchange controls more flexible," Chavez said Sunday.

"In no moment are we thinking of el