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CARACAS, March 4 (Reuters) - Venezuela"s Central Bank onThursday launched a $50 million bond, the seventh such offeringaimed at propping up the bolivar on a freely floated,semi-legal market since a currency devaluation in January.
The zero coupon bond is priced at 112 percent and works asa foreign exchange instrument because it can be purchased at anofficial rate of 4.3 bolivars to the dollar but will be paid indollars after 90 days.
It can be traded on secondary markets within Venezuela.
President Hugo Chavez devalued the bolivar on Jan. 8,creating a two-tiered official system that sells dollars mostlyfor 4.3 bolivars, but allows some priority imports at 2.6.
The Central Bank issues are aimed at strengthening thebolivar on the separate freely-floated market. The currency hasweakened in that mechanism during recent weeks to trade ataround 6.6/6.8 on Thursday.
Thursday"s offer was open for one hour between 12.30 p.m.and 1.30 p.m. local time, a bank statement said.
(Reporting by Eyanir Chinea, Writing by Andrew Cawthorne;Editing by Andrew Hay)
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