11. Since then, the Venezuelan government has allowed its currency to float as part of a preliminary agreement with the International Monetary Fund for new credits. 12. That stands in sharp contrast to what Mexico and Brazil did in similar situations, letting their currencies float freely against the dollar. 13. The preferred alternative is to let currencies float and adjust to market conditions. 14. The won weakened again yesterday, even after the South Korean government let the currency float freely Tuesday. 15. After President Hugo Chavez let the local currency float this week, the central bank spent lavishly to fend off a major devaluation. 16. Chavez announced the surprise decision to abandon a controlled devaluation scheme and let the currency float late Tuesday. 17. Ecuador to let currency float. 18. He said the decision allowing the currency to float freely has the full support of the International Monetary Fund. 19. In revoking the band, the bank appeared to be letting the currency float freely on foreign exchange markets. 20. Other Asian countries allowed their currencies to float this summer, giving in to speculative pressures. |