Venezuela's weaker bolivar hits global firms

US companies from Procter & Gamble Co to Pfizer Inc are facing a hit on their earnings as Venezuela's government limits access to dollars and the currency fell further.

BlackBerry said on Friday currency restrictions in the Latin American country contributed to a surprise loss in the quarter ending June 1. Venezuela's government has limited access to dollars because of currency controls during the past decade, making it difficult for companies with foreign headquarters to repatriate cash at the official exchange rate.

The losses are likely to continue as analysts surveyed by Bloomberg estimate the bolivar will fall an additional 16 percent against the dollar by the end of 2014.