Investors see Venezuela's new free-floating foreign exchange system as an important step toward improving the country's stretched finances, but economists question whether it can provide enough dollars to kick-start the economy. The Sicad 2 mechanism opened on Monday and has offered dollars at around 51 bolivars, or eight times the official rate. After 11 years of currency controls, critics said the launch of Sicad 2 amounts to a devaluation of 88 percent. Fitch Ratings cut its rating for Venezuela debt. Still, Venezuela's bonds rose on Tuesday, extending gains from Monday as the measures encouraged investors. It ... (full story)