Bloomberg News

Argentine Allows Currency Buying for PDVSA Deals, Clarin Says

August 04, 2012

Argentina’s central bank authorized local companies doing business with Petroleos de Venezuela SA to buy U.S. currency, daily newspaper Clarin reported.

Companies will be able to buy dollars at the official exchange rate when exporting machinery to Venezuela’s state oil company known as Pdvsa, Clarin said.

Argentina’s YPF SA (YPFD) and Pdvsa yesterday signed an accord aimed at jointly developing oil and gas projects, the newspaper said.

To contact the reporter on this story: Alex Emery in Lima at aemery1@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


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