Monday, July 16, 2007

Venezuelan Bolivar Trades Near Three-Week Low Amid Bond Sale Speculation

(Bloomberg) -- Venezuela's currency held at a
three-week low in unregulated trading as investors waited to see
whether the government will sell dollar-denominated bonds to
local banks this week to help meet demand for foreign currency.

Finance Minister Rodrigo Cabezas said in an interview that
the government will sell an additional $550 million of dollar
bonds from its credit portfolio to local banks during the rest
of this year. The government sold 967.5 billion bolivars of the
dollar-denominated bonds during the past few weeks.


Read more at Bloomberg Currencies News

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