Venezuela to adopt new currency exchange system
Basic rate for ‘first need products’ remains unchanged at 6.3 bolivars
The Central Bank of Venezuela will adopt a new currency exchange system, it was announced yesterday, which will operate with three different rates as before, but with one determined by the market.
Announcing the changes, Venezuelan president Nicolas Maduro said the new system was designed to serve "more efficiently the needs of the public and private sectors to improve the economy".
The major alteration concerns SICAD II, an exchange rate for private sellers that was previously set at around 51
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Central Banks
2024: The year in central banking
A look back at the biggest and most popular news stories of the year
Central Bank of Ireland defends Israeli ‘war bond’ approval
Critics say bank is complicit in funding genocide, but governor says it is bound by law
Bank of Uganda says it was target of $15 million fraud
Central bank says $8.2 million now recovered, but denies staff were involved or that its IT systems were hacked
Moldovan central bank launches digital auto insurance certificate
National Bank of Moldova moves away from paper to encourage take-up and increase security levels
Lebanese authorities press criminal charges against Salameh
Former central bank governor faces investigation over alleged embezzlement
Clash between Yemen’s central banks escalates
Rival central banks issue retaliatory bans on transacting with financial institutions