Venezuela's Chavez Says Government Will Keep Exchange Rate Peg

Venezuela will keep its current exchange rate peg of 2.15 bolivars to the U.S. dollar unaltered, President Hugo Chavez said Tuesday. 'We're going to keep the exchange rate as it is,' Chavez said during an extended press briefing with foreign correspondents. Aside from companies that want to buy dollars at the official exchange rate of VEB2.15, Venezuelans are allowed up to $5,000 for purchases abroad. Chavez dismissed speculation that the government was toying with the idea of introducing a higher exchange rate peg for individual consumers.