ESPACIO PUBLICITARIO
CARACAS, Thursday November 22, 2012 | Update
 
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FOREIGN CURRENCY

Central Bank avows that demand of foreign currency overtakes supply

Since demand is higher than supply, there are queues at the Transaction System for Foreign Currency Denominated Securities (Sitme)

EL UNIVERSAL
Thursday November 22, 2012  05:37 PM
Nelson Merentes, the president of the Central Bank of Venezuela (BCV), fired back to the hints of sluggishness in allocation of foreign currency for travelers and students.

The senior officer vouched that the Foreign Exchange Administration Board (Cadivi) has kept on dealing with all applications. Thus far this year, for instance, USD 2 billion has been apportioned among travelers.

Nevertheless, he did allow a different situation concerning the Transaction System for Foreign Currency Denominated Securities (Sitme). In his own words, since the demand of foreign currency is higher than supply, queues are formed in the scheme.

With regard to a potential devaluation of the local currency, "some topics are not discussed publicly, but between the Executive Office and the Bank. It is not being discussed and cannot be discussed," the BCV president said, as quoted by private news TV channel Globovisión.
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Is protest over?

That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending  in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.

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