Cash machine.

Cornered by government-imposed exchange controls, some Venezuelans are getting greenbacks through the markets. It works like this, market. sources say: Investors buy Venezuelan shares in bolivars of telecom CANTV CANTV Compañía Anónima Nacional Teléfonos de Venezuela , then swap them for American Depositary Receipts American Depositary Receipt (ADR)

Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . They then sell the ADRs for dollars. Voila! Dollar problem solved, at least. temporarily.

[GRAPHIC OMITTED]

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Title Annotation:	Trade Talk
Publication:	Latin Trade
Article Type:	Brief Article
Geographic Code:	3VENE
Date:	Sep 1, 2003
Words:	55
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Topics:	Foreign exchange market Economic aspects Investment management Methods

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