The Venezuelangovernment has approved the sale of $6 billion in bonds by state oil company, Petroleos de Venezuela (PdVSA), Bloomberg reports. The proceeds from the sale will be used for currency trading.
PdVSA is selling bonds to raise funds for projects and to make dollars available in the tightly controlled local currency market. The three, six and seven-year bonds will be traded on state-run stock exchange, Bolsa Publica de Valores Bicentenaria, adds El Universal.
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Click here for the additional coverage from El Universal.