Venezuela Plots Currency Moves

CARACAS—Seeking to stem the slide of the local currency on the black market, Venezuelan officials are developing a plan to pump more dollars into the country's economy, according to people who have met recently with central bank officials.

Details of the plans haven't been released. But many believe Venezuela's government is preparing to allow companies and individuals to legally buy dollars above the official exchange rate of the bolivar.

By opening a new channel, the government could alleviate hard-currency shortages that have increased since officials earlier this month scrapped a central-bank-operated dollar-distributing system without offering an alternative.

The local currency ...

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