Venezuela says it will drop US dollar for euros

Maduro government’s plan cannot succeed, expert says

euro5454

Venezuela will use the euro for all transactions that take place in the country’s foreign exchange market, the country’s finance minister said.

According to a statement from the central bank, published on October 16, “all operations” carried out in the foreign exchange market will be conducted in euros or “other convertible currencies”, including the yuan. The main reference rate will be in euros.  

Venezuela’s president Nicolás Maduro is battling against sanctions enforced by the US, which

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 copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.