CARACAS, Feb 10 (Reuters) - Venezuela said on Wednesday a new foreign exchange platform being created as part of the OPEC nation’s three-tier currency controls would trade “totally freely”.
Foreign Minister Rodolfo Marco added that 70 percent of the Venezuela economy’s needs would, however, be covered by the strongest fixed rate of 6.3 bolivars to the U.S. dollar which is intended for preferential food and medical products.
Another system, known as Sicad, would sell dollars for 12 bolivars, the minister said in a news conference. Details of the new exchange regulations are to be published on Wednesday in the government’s Official Gazette, he added. (Reporting by Brian Ellsworth; Writing by Andrew Cawthorne)