OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Mysterious town in Japan is obsessed with UFOs and aliens
 Venezuela says new currency platform to begin operations Monday EmptyToday at 1:31 pm by PurpleSkyz

» Martin Luther King, Jr. I Have A Dream Speech
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:20 pm by PurpleSkyz

» Myocarditis Tops List of COVID Vaccine Injuries Among 12- to 17-Year-Olds, VAERS Data Show
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:14 pm by PurpleSkyz

» Non-Jabbed Father Stripped of Visiting Rights by Judge
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:11 pm by PurpleSkyz

» Dangerous M6.6 earthquake hits off Java, Indonesia
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:08 pm by PurpleSkyz

» Life insurer refuses to cover vaccine death
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:01 pm by PurpleSkyz

» Dr. Sam White Interview – Doctors Are Being Suppressed, Censored & Attacked For Telling The Truth
 Venezuela says new currency platform to begin operations Monday EmptyToday at 11:32 am by PurpleSkyz

» American Students Organize Classroom “Walk Outs” To Demand Return To Remote Learning
 Venezuela says new currency platform to begin operations Monday EmptyToday at 11:27 am by PurpleSkyz

» 15-Year-Old Soccer Player from Brazil Dies from Cardiac Arrest Following National Football Cup Tournament Game
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:34 am by PurpleSkyz

» Route 91: Uncovering the Cover-Up of the Vegas Mass Shooting
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:21 am by PurpleSkyz

» COVID-19 Vaccines: Scientific Proof of Lethality
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:17 am by PurpleSkyz

» Open Letter to Steve Kirsch
 Venezuela says new currency platform to begin operations Monday EmptyToday at 12:14 am by PurpleSkyz

» New Normal: Former Malaysian Professional Football Player Dies of Heart Attack 5 Days After Receiving COVID-19 Booster Shot
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 4:10 pm by PurpleSkyz

» Hundreds of Thousands Protest ‘New World Order’ in France as COVID Narrative Crumbles
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 12:58 pm by PurpleSkyz

» The Full Extent of Jeffrey Epstein’s Crimes Are Slowly Being Revealed
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 12:50 pm by PurpleSkyz

» 36 Million Families to Stop Receiving Monthly Child Tax Credit Payments in January
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 12:45 pm by PurpleSkyz

» Japan Drops All Vaccine Mandates, Places Myocarditis Warning on Label
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 12:42 pm by PurpleSkyz

» Why Are Concrete Walls Being Constructed Around The White House?
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 12:36 pm by PurpleSkyz

» Q&A With Scientist Who Discovered Cannabis Can Prevent COVID-19
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 9:52 am by PurpleSkyz

» Tragic: 38yo Athlete Dies after Suffering Heart Attack During Swim Portion at Ironman 70.3 Pucon
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 9:48 am by PurpleSkyz

» Smoking Gun: Moderna Patented ‘Man Made’ SARS-CoV2 Gene Sequence in 2018
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 9:41 am by PurpleSkyz

» NASA Probe Gets Closest Look At Sun’s Atmosphere Than Ever Before And Makes Immediate Discoveries
 Venezuela says new currency platform to begin operations Monday EmptyYesterday at 9:34 am by PurpleSkyz








 Venezuela says new currency platform to begin operations Monday 4ccd9cb4-22af-4abe-a6c4-4d57fbce210b_zps8t6pdo1h

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » GLOBAL FINANCIAL COLLAPSE »  Venezuela says new currency platform to begin operations Monday

Venezuela says new currency platform to begin operations Monday

Go down  Message [Page 1 of 1]

ymoilman2



Venezuela says new currency platform to begin operations Monday

CARACAS, March 6 Thu Mar 6, 2014 7:59pm EST

(Reuters) - Venezuela on Monday will begin operations of a new currency platform designed to ease the OPEC nation's dollar shortages through a market-based mechanism, the country's top economic official said on Thursday.
The platform called Sicad 2 will add a third exchange rate to the 11-year-old currency controls that sell dollars at 6.3 bolivars for preferential goods and at 11 for other items, both far below the 80 bolivars that greenbacks fetch on the black market.
Sicad takes its name from the Spanish acronym for the Complementary Administration System for Foreign Exchange.
"This mechanism will, as established by the law, allow for (currency) transactions between private individuals, and it's going to function soon ... it will begin operations as of Monday," Economy Vice President Rafael Ramirez said in comments broadcast on state television.

The black market has steadily strengthened over the last week after reaching nearly 90 bolivars, driven in part by expectations that the new system could boost dollar supplies.
The country has suffered chronic shortages of basic goods ranging from toilet paper to corn flour as the 11-year-old currency control mechanism has left businesses struggling to obtain the dollars they need.
The government last month paved the way for Sicad 2 by reforming the Exchange Crimes Law to allow businesses and individuals to take part in foreign exchange transactions. That activity had been previously reserved for the central bank.

Sicad 2 will hold auctions every day, with the amount on offer to be based on demand rather than a set amount, Ramirez said last month.
Buyers will not have to describe what the dollars will be used for when they bid, unlike in other foreign exchange mechanisms that exist under the currency controls.


Visit stage3alpha at: http://s3alpha.net/?xg_source=msg_mes_network

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum