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situation report

Feb 8, 2013 | 21:06 GMT

1 min read

Venezuela: Bolivar To Be Devalued

Venezuela will devalue its currency from 4.3 bolivars per dollar to 6.3 bolivars per dollar, Venezuelan Finance Minister Jorge Giordani said Feb. 8 on state television, Bloomberg reported. The current exchange rate will remain for certain imports, Giordani said. The government had little choice in the near term but to devalue its currency.

Editor's note: An earlier version of this sitrep cited an incorrect statistic concerning the currency devaluation.

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