Venezuela president sees fixed rate for bolivar

Venezuelan President Hugo Chavez predicted the country's currency, the bolivar ($1=VEB699.25), will be fixed against the dollar some time in the future, according to a report Dec 29 in local daily El Universal. He didn't say when that may happen but indicated his cabinet would focus on strengthening the currency, according to the report.

The bolivar's devaluation against the dollar was slightly less than 8% in 2000 compared with almost 15% in 1999, and the central bank said last week it would