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Venezuela's Maduro says will shun U.S. dollar in favor of yuan, others

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Venezuela's President Nicolas Maduro (C) gestures as he speaks during a session of the National Constituent Assembly at Palacio Federal Legislativo in Caracas, Venezuela September 7, 2017.

CARACAS - Venezuela’s President Nicolas Maduro said on Thursday that the cash-strapped country would seek to “free” itself from the U.S. dollar and that the country’s weakest official exchange mechanism would next week use a basket of other currencies, including the Chinese yuan.

“Venezuela will implement a new mechanism of international payment and create a basket of currencies,” said Maduro, who also increased the country’s minimum wage by 40 percent, making it a total of just under $7 per month at the black market exchange rate.

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Muslim Global: Venezuela's Maduro says will shun U.S. dollar in favor of yuan, others
Venezuela's Maduro says will shun U.S. dollar in favor of yuan, others
Venezuela’s President Nicolas Maduro said on Thursday that the cash-strapped country would seek to “free” itself from the U.S. dollar and that the country’s weakest official exchange mechanism would next week use a basket of other currencies, including the Chinese yuan
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