Learn About Latin American Currencies

144559 Resource 119244 120646 120646 1160748906335 1160748906335 Controlled Hugo Chavez Rules Out Currency Devaluation

Bolivar to remain the same through 2007

Venezuelan President Hugo Chavez insists that economic indicators in his country are good, and that <a href="http://www.businessweek.com/ap/financialnews/D8KN5IV00.htm" target="_blank" title="bolivar, currency market, Hugo Chavez, currency devaluation, economic indicators, Venezuela">he will not devalue the currency, the bolivar, on the currency market</a>. Right now the currency is a fixed currency, set at 2,150 bolivars per U.S. dollar. Business week reports: <div style="margin-left: 40px;"> President Hugo Chavez ruled out a currency devaluation Wednesday as he painted a rosy outlook for Venezuela's economy. He said there was no reason to devalue the Venezuelan currency, the bolivar, because of strong growth in the economy and other healthy indicators. "There are those going around speculating that we are going to devalue the currency -- no, not all," Chavez said in a televised speech. Chavez imposed strict currency controls in 2003 to try and halt capital flight amid political turmoil caused by an opposition-led strike. The exchange rate is fixed at 2,150 bolivars per dollar, and Chavez said Wednesday that would remain "identical" throughout 2007. </div> 9 application/xml false bolivar currency devaluation currency market economic indicators fixed currencies Hugo Chavez Latin American currencies Venezuela Learn About Latin American Currencies Floating and fixed currencies on the currency market http://www.gftforex.com/land/index.asp?aid=446 Mozilla/5.0 (Macintosh; U; PPC Mac OS X Mach-O; en-US; rv:1.8.0.7) Gecko/20060909 Firefox/1.5.0.7 127.0.0.1 127.0.0.1 mmarquit false true false false true 119244 blog blogsite/GFTForex/web