CARACAS, June 13 (Reuters) – Transactions paid with foreign credit cards are helping circulate more foreign currency in Venezuela, where the government has locked in an exchange rate as part of efforts to control double-digit inflation, four public sector and finance sources said.
The transactions have been growing steadily since the government of President Nicolas Maduro, who is running for reelection in July, loosened currency controls five years ago, allowing an expanded use of U.S. dollars alongside the local bolivar currency.
Source: REUTER