CARACAS (Reuters) - Venezuela's President Hugo Chavez said on Friday authorities were set to raid money changers and close websites listing exchange rates, his latest bid to stop the crashing bolivar currency.
Venezuela's foreign exchange market is already paralyzed after the government moved to end speculation and stem the fall of the bolivar with new rules some economists fear will cause economic turmoil.
Under a reform passed by legislators on Thursday, the central bank will oversee all transactions in the market where the bolivar is traded freely via securities.
Fitch Ratings said on Friday that Venezuela's new laws governing foreign exchange trading could hurt growth prospects and stoke inflation, compromising the government's ability to service its debt.
Chavez threatened to close all the country's brokerages and financial trading houses after the bolivar lost 25 percent against the dollar this year.
Friday's raids appeared to be limited to small illegal money changers in Caracas.
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