Venezuela again cancels daily dollar auction

Reuters, 01.10.03, 8:28 AM ET

CARACAS, Venezuela, Jan 10 (Reuters) - Venezuela's central bank (BCV) said it would not hold its daily dollar auctions on Friday, the second day of a 48-hour bank stoppage called by banking workers.

The central bank also canceled auctions on Thursday, the first day of the strike.

Union leaders representing bank workers on Wednesday announced they would halt banking services Thursday and Friday in support of a five-week-old strike by foes of President Hugo Chavez.

"The Venezuelan central bank informs authorized exchange traders that today's dollar auctions will not take place," the BCV said in a note posted on its Web site. It offered no explanation.

The bolivar currency, as measured by the Central Bank's reference rate <VEBFIX=>, fell 5.3 percent against the dollar on Thursday to 1,594.75 bolivars. The BCV on Thursday sold dollars through its foreign exchange trading desk.