BCV authorizes banking commercial transactions in foreign currencies

With this decision the Dicom system will be left without effect. The exchange rate will be provided by the bank at the end of each day

This Monday the Central Bank of Venezuela published the resolution 19-05-01, which authorizes the realization of commercial transactions in foreign currencies.

One of the conditions that was established is the average exchange rate resulting from operations is published at the end of each day.

With this, financial institutions “may agree through their exchange desks, between clients of that institution, or in inter-bank transactions, operations of buying and selling foreign currencies by natural and legal persons of the private sector“.

For the time being, this has not been published in the Official Gazette, however a document has been leaked to social networks where the points of this new resolution of the BCV are explained.

In order to participate in the operations, the interested parties must go directly to the authorized exchange operators, or make use of the services of the electronic banking. “The procedure for these operations may be carried out every banking business day”, article 4 says.

K. Tovar

Source: Contrapunto

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