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Currency

Venezuela’s Central Bank Announces New Banknotes and Coins

Venezuela’s highest value banknote will go from 100 Bolivars to 20,000. 
 (Archive)

The new higher denomination notes and coins will gradually come into effect as of December 15. 

 

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Venezuelan President Reports “Cyber Sabotage” against Banking System

:Maduro tells the country to be on “permanent alert” in the face of the financial cyber attack. (VTV)

President Maduro ordered intelligence services to take “necessary actions” as citizens began to denounce difficulties with payment terminals and electronic banking platforms across the country. 

 

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Venezuela’s Currency Takes Another Dive

The Bolivar (BsF) has lost over 40 percent since the start of November, according to unofficial exchange tracking website dolart

Venezuela’s beleaguered currency looked set Friday to lose around half its value in a month.

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Maduro Accuses Financial Institutions of Trying to Destabilise Venezuela

Venezuela's President Nicolas Maduro has accused international financial agencies of trying to destabilise his government.

Venezuelan President Nicolas Maduro accused international financial institutions of unfairly persecuting his country.

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Venezuelan Government Confronts Forex Scammers with New Measures

Since 2003, Venezuela has maintained currency exchange controls aimed at curbing inflation. | (Photo: Venezuelanalysis/ Ryan Mal

Venezuelan government officials have announced new measures to reduce commonly practiced forex scams which have long dogged the country’s economy.

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Maduro Entertains Raising Gas Prices But Rejects Devaluation of Venezuela´s Currency

President Nicolas Maduro addressing to the Venezuelan legislature, he announced slight changes to monetary policies and the need

On Thursday, Venezuelan President Nicolas Maduro made a much-anticipated address to the Venezuelan legislature in which he announced slight changes to monetary policies and the need to raise the extremely low cost of gasoline in the country.  He also announced a 15% increase in the minimum wage and increased investment in education and housing.

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Venezuela’s Decision Not to Devalue Its Currency Raises Questions

José Khan, Director of the Central Bank of Venezuela (BCV) stated that Venezuela will not devalue the bolivar currency (El Univ

Cory Fischer Hoffman looks at the pressures facing the Venezuelan economy and the questions raised by the decision of President Nicolas Maduro’s government not to adjust (devalue) the country’s exchange rate in the near future.

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Authorities Investigate 190 Companies for Currency Exchange Fraud in Venezuela

The South American country has maintained currency exchange controls since 2003 in order to prevent capital flight and plan the

Venezuelan authorities are investigating 190 companies for suspected fraudulent use of preferential dollars granted for product imports.

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Consumer Protection Agency: Airlines in Venezuela Use “Abusive Pricing Structure”

Eduardo Saman's allegations come following an investigation into airline prices prompted by consumer complaints (Archive)

The head of Venezuela's consumer protection agency, Eduardo Saman, has slammed airlines for allegedly blocking consumers from purchasing cheap fares, and says penalties may be imposed.

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