Banks will be closed two days as part of the strike

January 8, 2003

Banks will shutdown for two days Thursday and Friday as decided by the unions today. The Government ahd actually issued a decree earlier in the week forcing to have banks to their usual schedule, but so far banks have refused to on the grounds that only the ConsejoBancario has the power to establish schedules. Separately, supermarkets will also be closed on Thursday.


Separately teh Venezuelan currency jumped sharply today closing at Bs. 1510 per US$ a jump of Bs. 86, but it actually reached levels of Bs. 1650 per US$. There were two reasons for this, one that banks will be closed, the second one being rumors that the Government may rollover debt.

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