ARACAS, Venezuela (AP) - Venezuela's government announced Friday that
it is devaluing the country's currency, a long-anticipated change
expected to push up prices in the heavily import-reliant economy.
Officials said the fixed exchange rate is changing from 4.30 bolivars to the dollar to 6.30 bolivars to the dollar.
The devaluation had been widely expected by analysts in recent
months, though experts had been unsure about whether the government
would act while President Hugo Chavez remained out of sight in Cuba
recovering from cancer surgery.