Trading has begun on the Venezuelan bond market used for foreign currency exchange after the Central Bank relaunched the system under new controls, according to AP. The Central Bank set a band of permitted prices for bond trades Wednesday. Private bank officials say they translate into exchange rates of between 4.30 bolivars and 5.30 bolivars to the dollar _ sharply less than rates of more than 8 bolivars to the dollar before trading was halted May 19. The government stepped in to control the market after President Hugo Chavez blamed speculative trading for eroding the currency. The government sets official exchange rates, but makes available only limited amounts of dollars at official rates. The bond market provides another outlet.
