for a loss of $.25 / $4.00 or -6.25%
Banking reports are being circulated stating that the Venezuelan banks under Madura need additional hard US Currency. This should allow for foreign visitors that travel to the South American nation to exchange their hard currency at banks at the prevailing pegged exchange rate. Without that US tourists and businesses cannot exchange their Venezuelan currency back into dollars upon leaving the country to return home.
The rumor mill is also that air travel to Venezuelan airport Caracas could resume out of Miami once this is accomplished. Finally, without additional hard USDs the payment processing companies such as Visa, MC, Western Union, etc are having one hell of a hard time accomplishing their job of exchanging money.
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