The central bank hasn’t held a dollar auction in the parallel market since Feb. 8 after selling $260 million -- through local short-term dollar bonds payable in bolivars -- over the previous four weeks. The bank began selling the dollars in January after President Hugo Chavez pledged to spa

Feb. 23 (Bloomberg) -- Venezuela’s central bank may inject more than $5 billion of dollar-denominated securities into the financial system this year to strengthen the bolivar in the unregulated foreign-exchange market, a government official said. The government is seeking to push t

Feb. 23 (Bloomberg) -- Venezuela’s central bank may inject more than $5 billion of dollar-denominated securities into the financial system this year to strengthen the bolivar in the unregulated foreign-exchange market, a government official said. The government is seeking to push t

By Daniel Cancel The bolivar surged 4 percent, the most since Jan. 14, to 6.25 per dollar from 6.5 yesterday, traders said . Venezuelan individuals and companies turn to the parallel market when they can’t get government approval to buy dollars at official rates. The central ba

Feb. 8 (Bloomberg) -- Venezuela will allow foreign companies to exchange dollars for 2.6 bolivars apiece, lower than the 4.3-bolivar rate applied for non-essential items, a former planning minister said. “Days ago, it was announced that outstanding debts would be recognized at 2

By Daniel Cancel The bank, which began the auctions last week to help shore up the bolivar in the parallel unregulated market, will keep carrying them out several times a week, the official said in a phone interview. The sales will range in size from $40 million to $60 million, he

Jan. 15 (Bloomberg) -- Venezuela’s bolivar fell the most in four days in the unregulated market after the central bank refrained from auctioning dollar bonds in the local market. The bolivar weakened 1.2 percent to 5.87 in unregulated trading from 5.8 yesterday, traders said . T

Jan. 14 (Bloomberg) -- Whale sperm, pickles and the pain reliever codeine will be considered essential goods in Venezuela and receive a preferential exchange rate under President Hugo Chavez ’s new currency structure. Chavez on Jan. 8 devalued the bolivar by as much as 50 percent a

Jan. 12 (Bloomberg) -- Venezuelan consumers are rushing to buy flat screen televisions before prices jump, while U.S. companies including Colgate-Palmolive Co. brace for profit declines after President Hugo Chavez devalued the currency. Chavez’s threats to seize businesses that rai