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foreign currency exchange

Venezuela’s Currency Nosedives, Maduro Cracks Down on Telecommunications Price Hike

(Reuters/Ueslei Marcelino)
Venezuela’s troubled currency has lost twice its own value over the past two months, according to the latest black market data.

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Will Venezuela’s Latest Exchange Rate Reforms Help?

The new reform is intended to halt the further devaluation of Venezuela's bolivar. (Archive)

VA's Ryan Mallett-Outtrim weighs the potential pros and cons of Venezuela's latest currency exchange reform, arguing that only a free floating exchange rate will save the country's crisis-ridden economy. 

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Venezuela’s New Forex System Launches

(El Nacional)

Venezuela was set Thursday to hold its first currency auction under its newly reformed foreign exchange system, which the government says will be more transparent and effective than its predecessors.

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Venezuela to Open Currency Exchange Houses Along Colombian Border

Currency exchange house. (Archive)

The eight new currency exchange centers are aimed at combatting the cross-border smuggling of Venezuelan bolivars. 

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“Dólar Today” Admits Support for Venezuelan Opposition

Dólar Today logo. (Archive)

Dólar Today founder and current US resident Gustavo Díaz voiced support for ultra-right Venezuelan opposition leaders linked to anti-government violence and coups attempts. 

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CEPAL: There Is “Definitely No Humanitarian” Crisis in Venezuela

 (AFP 2016/ Vladimir Rodas)

The organisation’s Executive Secretary, Alicia Bárcena, confirmed there was “definitely no” humanitarian crisis in the country. 

 

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Steve Ellner: Democratization of PSUV is Key to Chavismo’s Future

Professor Steve Ellner. (Ángel Dejesús)

Distinguished Venezuelan history and politics professor Steve Ellner examines the current state of Venezuela's Bolivarian Revolution at the crossroads of a deep economic crisis and an opposition-led presidential recall effort. 

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Venezuelan Central Bank Backs Down from DolarToday Legal Fight: Reports

(YVKE)

Venezuela’s central bank has quietly dropped its long running court battle with an exchange rate publisher, according to reports Friday.

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Venezuela Partially Floats Exchange Rate, Sees Rise by 42 Bolivars

(Archive)

Venezuela’s uppermost SIMADI exchange rate closed at 249.56 bolivars per dollar on Tuesday, amounting to a 42.64 increase since the government instituted a partial float on March 10.

 

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The Roots of the Current Situation in Venezuela

(AP)

Venezuelanalysis's Gregory Wilpert breaks down the causes of the current difficulties in Venezuela, arguing that they can be traced to the currency control measures implemented in 2003 - designed to defend the government against a capitalist attack on its currency.

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