CARACAS—Venezuela devalued its currency by 44% for tourists Monday, one of a series of expected moves as the economically-troubled South American country looks to boost its local-currency revenue.
Nonresidents will be able to legally exchange dollars for 11.3 bolívares as of Monday, compared with the previous exchange rate of 6.3 bolívares, according to a statement on the central bank’s website.
The announcement comes a week…
Original post: Venezuela Announces Weaker FX Rate for Tourists
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