Venezuela to adopt more flexible exchange rate

Liberalisation and US sanctions on oil industry likely to boost inflation, say analysts

Venezuelan BOB100 note
Over the last decade, the bolivar’s black market has emerged as a major source of corruption

Venezuela announced a partial liberalisation of its restrictive exchange rate system on May 7, as the economy battles hyperinflation and US sanctions limit access to hard currency.

The new regulation allows local banks to act as intermediaries for exchange rate operations in the private sector for corporate and retail investors. The aim appears to be to achieve a more market-determined exchange rate and reduce the black market for the bolívar, although authorities did not explain the rationale

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 [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets 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 indvidual account here: