The Central Bank of Venezuela. File photo.
In a September 26 statement, the Central Bank of Venezuela (BCV) declared that the maximum amount able to be purchased of any currency remained at €8,500 (or its equivalent), but it did not specify a minimum amount, which was previously €50 for individuals and €500 for companies.
The maximum amounts for foreign currency sales per client/user that banks and exchange houses may carry out are €1,000 per day, €4,000 per month, and €8,500 per calendar year.
“The accumulated balance will be considered when calculating the maximum annual amount indicated in this numeral on the occasion of the participation of customers or users in the retail market,” the statement explained.
The amended rule did not establish an annual limit, and specified a daily limit of €500 for the sale of foreign currency in cash.
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“It is expressly understood that the foreign currency sales operations carried out by universal banks and exchange houses to their clients or users will be made at the exchange rate published by the Central Bank of Venezuela through its website the day immediately prior to the date of the respective operation, increased by 1% in accordance with the provisions of the Article 22 of the Exchange Agreement No. 1,” the communication continued.
According to Official Gazette No. 41,580, dated February 6, 2019, the BCV had established a minimum amount of €50 or its equivalent in another foreign currency for natural persons and €500 for legal persons.
(Red Radio VE) by Ana Perdigón with Orinoco Tribune content
Translation: Orinoco Tribune
OT/KZ/KW
