Venezuela slows depreciation rate of currency band

Venezuela's central bank said on Dec 21 2000 it would slow the depreciation of the central parity rate of the bolivar currency next year to 7.00 percent annually, from about 12 percent this year. The bank will also set a new parity rate for the bolivar currency at the closing level of the market on the last trading day of the year, it said in a statement. The bank will maintain the existing 7.50 percent variation band around the central parity, in the new policy to take effect from Jan. 2 200

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