Venezuela's Zavala - No for ex trading until March

According to Central Bank of Venezuela (BCV) Director Domingo Maza Zavala, foreign exchange trading will continue to be suspended until the end of February to allow government and Central Bank officials enough time to implement the controls.

The extra time is needed for the [Foreign] Currency Administration Commission (Cadivi) to set up the system it requires to process applications for foreign currency, with the bolivar being pegged at 1,600.00 bolivars/1,596.00 bolivars to the US dollar.


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