Venezuela loosens currency exchange controls to allow forex trading [Reuters]
Kadant Inc (KAI)
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Source: Reuters
Venezuela loosens currency exchange controls to allow forex trading - Reuters 3 Min Read CARACAS, May 7 (Reuters) - Venezuela will allow local banks to open foreign currency trading platforms as part of a loosening of the OPEC nation’s exchange controls, according to a central bank resolution published on Tuesday. President Nicolas Maduro, facing a hyperinflationary economic collapse and a relentless weakening in the bolivar currency, has repeatedly promised to overhaul the system. But numerous plans have floundered because the central bank did not supply enough currency to meet market demand. Economists routinely identify the struggling country’s exchange control system as a hindrance to possible recovery from the economic meltdown. But financial industry experts warned Tuesday’s move does not eliminate the 16-year-old system of currency controls. The resolution says financial institutions will be authorized to carry out “purchase and sale of foreign currency by individuals and busin
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KAI
Earnings
- 10/29/24 - Beat
KAI
Sec Filings
- 12/12/24 - Form 8-K
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- KAI's page on the SEC website