Skip to Navigation


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.

» read more

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.

» read more

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.

» read more

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.

» read more

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.

» read more

Venezuelan Authorities to Combat Foreign Currency Scam with Fingerprint Devices

The machines ensure that dollar-loaded credit cards can only be used by those who actually travel abroad (Google)

Venezuelan authorities will install fingerprint devices in airports and other border posts to prevent foreign-bound Venezuelans committing a currency scam known as “the scrape”.

» read more

New Foreign Exchange Initiative in Venezuela Hopes to Aid Economy

(Thomas Coex / AFP / archive)

The second auction of US dollars under Venezuela's new foreign exchange initiative is a step towards ensuring the “necessary flow of the economy”, according to President Nicolas Maduro.

» read more

Venezuelan President Calls for Dialogue With Private Sector, “Special Economic Zones” and Streamlined Currency Exchange

Maduro in Maracaibo, Zulia state yesterday (Prensa Miraflores)

The Venezuelan government hopes to encourage  more foreign investment and a better relationship with the business community, President Nicolas Maduro stated yesterday.

» read more

Venezuelan Government Announces New Currency Exchange System

Finance minister Jorge Giordani (left) and president of the Central Bank, Nelson Merentes (middle) in the press conference today

Today members of the government held a press conference to inform the public about the new system for buying foreign currency. Called the Complimentary System of Foreign Currency Acquirement (Sicad), interim president Nicolas Maduro said it aims to “overcome the parallel market”.

» read more

Venezuela Debates Currency Devaluation while Impact Remains Unclear

The government devalued the Bolivar by 32% last Friday (Ciudad CCS)

There has been much debate in Venezuela over the causes and likely consequences of last Friday’s currency devaluation, while the concrete political and economic impact remains to be seen.

» read more

Syndicate content