Reuters: US Dollar Report: Venezuela to ease foreign currency regime - source

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Venezuela to ease foreign currency regime - source Jun 23rd 2013, 20:23 CARACAS, June 23 | Sun Jun 23, 2013 4:23pm EDT CARACAS, June 23 (Reuters) - Venezuela will make its foreign currency system more flexible by reviving a stalled dollar-auction in July and then allowing a revival of a free-floating "swap" mechanism after that, a source in the government's economic team said on Sunday. Venezuela has operated currency controls for a decade, with restricted access to dollars at the official rate of 6.3 bolivars a major gripe for local businesses and a cause of the South American OPEC nation's slowing growth rate.

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