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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-01-06 10:42 PM
Original message
Venezuela Broadens Trading Into Euros
http://www.nytimes.com/2005/12/31/business/worldbusiness/31euro.html

Venezuela, which imposed foreign exchange restrictions in early 2003, said yesterday that it would start to buy and sell euros in addition to dollars, broadening its currency operations.

The central bank said a fixed rate for the euro would be set shortly.

Venezuela limited access to dollars and fixed the rate in February 2003 to stem a run on international reserves. Since then, Venezuelans have been able to buy or sell dollars only under strict supervision at a current fixed rate of 2,147.3 per dollar.
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PDJane Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-01-06 10:44 PM
Response to Original message
1. wise.....
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stepnw1f Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-01-06 10:47 PM
Response to Original message
2. Thanks Neo-Nuts!
For fucking up the dollar.... among many other things. You will pay in the end....
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tatertop Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-01-06 10:51 PM
Response to Original message
3. Very good.
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Left Below Donating Member (171 posts) Send PM | Profile | Ignore Sun Jan-01-06 11:11 PM
Response to Original message
4. Great!
Chavez will give our markets a lesson in "free enterprise". I hope Buffett and Soros are still short the dollar. At least some of the good guys will profit.
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ThomWV Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-01-06 11:22 PM
Response to Reply #4
5. To Give This A Little Definition
In this case short on the dollar means that a person has borrowed all the dollars they possibly can with the expectaton of having to repay them with what are soon to be essentially worthless, but abundant, future US dollars.

Just wanted to make that clear.
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newyawker99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-02-06 10:02 AM
Response to Reply #4
6. Hi Left Below!!
Welcome to DU!! :toast:
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