Maduro mulls relaunching 'permuta' forex system in Venezuela


  • World
  • Tuesday, 10 Sep 2013

CARACAS (Reuters) - Venezuela may relaunch its so-called "permuta" foreign exchange mechanism as it seeks to supply more dollars to local importers who are complaining about lack of access to hard currency, President Nicolas Maduro said on Monday.

The "permuta" system, which was shuttered by the government in 2010, would run alongside two existing exchange mechanisms: one run by the state currency board called Cadivi, and a second auction-based system, Sicad, run by the central bank.

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