Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal News Radio's National Cyber Security Awareness Month Special Panel Discussion
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- Government Perspectives on Mobility and the Cloud
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Venezuela to create new foreign exchange system
Monday - 3/18/2013, 11:58pm EDT
CARACAS, Venezuela (AP) - Venezuela will launch a "complementary" foreign exchange system to facilitate the supply of U.S. dollars to priority sectors of the economy, acting President Nicolas Maduro said Monday.
Maduro told state television that the government would provide more details about the new system on Tuesday, but that its purpose would be to direct dollars to where "resources are most urgently needed" and to combat black market currency trading. It would complement the official foreign exchange system.
"We have the will to defeat the parallel dollar," Maduro said.
Venezuela has maintained strict currency controls since 2003, leading to complaints from businesses about a dearth of dollars and creating a currency black market. Under the controls, people and businesses must apply to the government currency agency to receive dollars at the official rate to import goods, pay for travel or cover other obligations.
Central Bank President Nelson Merentes said Venezuela's institutions are ready to implement the new alternative system.
Last month, Venezuela devalued its currency amid questions about how the government can get a grip on 22-percent inflation and satisfy growing demand for dollars to pay for imported goods.
The country's fifth devaluation in a decade established a new government-set rate of 6.30 bolivars to the dollar, replacing the previous rate of 4.30 bolivars.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)