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Will the Venezuelan government changes impact earnings?
February 11, 2013
By: TOM BRANNA
Editor
The Venezuelan government announced its intention to devalue its currency (bolivar fuerte) last week. Although no official rules have yet been issued, the official exchange rate is expected to move from 4.30 to 6.30 per dollar, effective with the publishing of the next Official Gazette on Feb. 13, 2013. It was also announced that the currency market administered by the central bank known as SITME that traded at 5.30 bolivar fuertes per dollar will be el...
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