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Associated Press
Venezuela's Oil Minister Rafael Ramirez gives a news conference at his office where an image hangs behind him of Venezuela's President Hugo Chavez in Caracas, Venezuela, Wednesday, Feb. 13, 2013. Venezuela, a country heavily reliant on imports, announced Friday that it would devalue the bolivar. The country relies on dollar-denominated oil sales and the government hopes to ease the amount of money that it must borrow to continue functioning. The government initiated stringent currency exchange controls in 2003. People and businesses must apply to a government currency agency to receive dollars at the official rate, but a black market on currency is flourishing. (AP Photo/Fernando Llano)

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