Venezuelan Bolivar Falls 6 Percent

reuters.com Wed January 15, 2003 10:33 AM ET CARACAS, Venezuela (Reuters) - Venezuela's bolivar currency fell on Wednesday for the third consecutive day this week, slipping 6 percent against the U.S. dollar as a six-week-old opposition strike ground on with no sign that a solution was in sight.

The interbank rate dipped to 1,740 bolivars against the U.S. currency during the morning's trading amid heavy nervous buying of dollars, traders said. This followed similar falls of 4 percent Tuesday and 5 percent Monday.

"The foreign exchange market is crazy. People aren't looking at the price. What they want is to have dollars in their hands," one trader said.

The Venezuelan currency has fallen sharply in recent days as the strike, called by foes of leftist President Hugo Chavez to press him to resign and hold early elections, increases fears of economic and political turmoil in the world's No. 5 oil exporter. The strike has already slashed the country's vital oil production and shipments.