Venezuela's President Hugo Chavez last week devalued the bolivar by 50% in a bid to safeguard the government's depleted oil income and address some of the symptoms of stagflation in the economy.
For more- Renault: Negligible Hit From Venezuela Currency Devaluation - WSJ.com1/17/10
Renault: Negligible Hit From Venezuela Currency Devaluation
French carmaker Renault SA (RNO.FR) expects a negligible impact from the devaluation of the Venezuelan currency given its limited exposure in that market, a company spokeswoman said Tuesday.
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