Venezuelan government for the smooth imports of food, medicine, and widespread shortages of basic supplies, "foreign currency auction recently for some importers. The country's central bank has abolished the "of 5.3 Bolivar / U.S. $ exchange rate adjustment, said the exchange rate will lead to speculation and the dollar black market prices soaring. Instead, the government announced that the foreign exchange management supplement system plan, and on March 27 auction of $ 200,000,000, specific to the selected 383 companies involved in the company and the auction price is not disclosed.
According to Agence France-Presse reported on March 31, the appointment of Finance Minister Jorge Theo Dani commitment to help businesses get the required foreign currency, saying the move will help to enhance the transparency of the foreign exchange rate. Venezuelan economist Jose the Quilla estimated auction price of $ 12 Bolivar / U.S. dollar. Since 2003, the Committee on Foreign currency strict controls to curb capital flight. Limited foreign currency that individuals and businesses can be obtained through the official exchange rate. However, the market has been high demand for the dollar and the euro, led to a black market in U.S. dollars and Euro prices are far higher than the official price. Critics have pointed out that the auction dollar means inputs and prices must be adjusted, may lead to rising prices, causing inflation.
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