FX Markets

Bolivar float shocks market


CARACUS -- The Venezuelan government surprised Latin American markets last week by floating the nation's currency, the bolivar.

The currency had, until last week, been trading within a managed currency band, but recent pressure on the band due to perceived overvaluation and a need to increase government revenues through devaluation led to the change, analysts said.

"The float is a surprise," said Guillermo Estabanez, Latin American currency strategist at Bank of America in San Francisco. "However

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: