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Maduro orders measures to protect official dollar rate after latest bolivar devaluation

Daniel Stewart

2022-12-10
File
File – The president of Venezuela, Nicolas Maduro – -/Prensa Miraflores/dpa

Venezuelan President Nicolás Maduro announced on Saturday the preparation of a series of economic measures to protect the official dollar rate, applied in foreign exchange transactions, in the face of the collapse of the bolivar, which in recent days has lost a fifth of its value against the U.S. currency.

The parallel dollar in Venezuela rose again on Thursday, closing at 16.20 bolivars per dollar, an increase of 5.34 percent with respect to Wednesday, when it ended at 15.37 bolivars per dollar.

Meanwhile, the price of the official dollar of the Central Bank of Venezuela (BCV) has been fixed at 14.12 bolivars, while the euro was quoted at 14.88 bolivars while the country’s executive vice-president, Delcy Rodríguez, denounced an attack of financial speculation.

Thus, and «in the face of the attack of the criminal dollar», Maduro has ordered his economic team «to take measures in defense of the Official Rate, for a healthy trade that respects the rights of the people».

«We will guarantee a Merry Christmas by defeating the mafias mayameras. no one will stop economic growth!», Maduro has concluded in his Twitter account.

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