Bolivar calms on Reuters exclusive

With Venezuelas parallel` currency market in a frenzy and traders predicting its imminent closure, Reuters spoke exclusively on May 11 to a top government official who assured her that the market was not be closed but instead would be regulated more closely. The story calmed the market and the bolivar stabilized, having touched a historic low and appearing set to fall further. The Reuters story was quickly and widely picked up by local media. One Wall Street analyst even retracted a research alert he had written to take account of the new information from Reuters. By the end of the day, Venezuelan officials, traders & media had all caught up, and our version was confirmed as the correct one. The flood of calls into the bureau from Venezuela and abroad confirmed the huge level of interest in this story from clients.