Venezuela brings in new foreign exchange controls

Venezuela has introduced a raft of new foreign currency controls under President Hugo Chavez in an attempt to ease the economic turmoil that has enveloped the country.

Venezuelan on Thursday imposed as his government sought to bruising from a two-month opposition strike that failed to oust him.

Chavez said currency trading -- suspended for two weeks --would resume under a fixed exchange rate and tighter controls to shore up international reserves and the battered local bolivar currency.