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Currency

Brazilian Authorities Seize 40M Venezuelan Bolivars in Rio

Brazilian authorities display seized Venezuelan currency at a local precinct. (Veja.com)

Brazilian authorities discovered the equivalent of $USD $14,400 in Venezuelan currency in a Rio de Janeiro favela this week.  

 

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Venezuela’s Maduro Highlights Social Achievements in Annual Address to the Nation

Venezuelan President Nicolas Maduro addresses the Supreme Court for his annual address to the nation. (AVN and Prensa Presidenci

Maduro said his administration had managed to expand social welfare provision despite facing a severe economic crisis.  

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Venezuela’s Maduro Pushes Back Currency Deadline, Sees ‘Economic Expansion’ in 2017

President Nicolas Maduro says Venezuelans will now have until January 20 to use their BsF100 bills. (Prensa Presidencial)

President Nicolas Maduro again extended Thursday the window for Venezuelans to use their old BsF100 bills, just days before the currency was slated to be removed from circulation.

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Venezuela's Currency Limbo Continues

Maduro Extends Legal Circulation of 100 Bolivar Bills Until January

President Maduro announces the extension on Saturday night (Prensa Presidencial).

The president backpedaled Friday on a decision announced last week to withdraw the notes as legal tender, citing claims of "international sabotage". 

 

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Is Venezuela's Currency Recall Really a Disaster?

Venezuela’s Maduro Extends Border Closure, Decreases Window for Swapping Old Currency

President Nicolas Maduro says the value of the BsF has been drained by criminal groups hoarding the currency abroad. (Prensa Pre

Venezuelan President Nicolas Maduro announced Thursday he had extended the closure of its land borders with Colombia and Brazil, and decreased the time window for Venezuelans to deposit old bills at the central bank. Meanwhile the value of the dollar on the black market appears to have plummeted as a result of the initiative. 

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Venezuelan Government Orders Reduction in Electronic Payment Taxes

Venezuelan Communications Minister Ernesto Villegas made the announcement on Tuesday. (Archive)

 The Venezuelan government announced Tuesday a two percent reduction in value added taxes paid in electronic transactions as part of an initiative to encourage less physical currency use.

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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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