Venezuela

[fa icon="calendar'] May 11, 2018 @ 12:39 PM / by Alex Davis

 

DICOM auctions, Black Market, and elimination of the DIPRO rate in Venezuela

The DICOM auctions in Venezuela, suspended since August 31, 2017, have resumed. The results of the first auction since the suspension were published on February 5 and marked a significant devaluation, from 3,345 VEF to 25,000 VEF to the dollar.



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[fa icon="calendar'] Jan 23, 2018 @ 03:44 PM / by Alex Davis

Venezuela and the VEF Exchange

The DICOM auctions introduced on May 31 were suspended after the August 31 auction, which was voided.



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[fa icon="calendar'] Jul 20, 2017 @ 10:14 AM / by Alex Davis

Another Currency Auction in Venezuela

On May 31, Venezuela announced the results of the first currency auction for its new DICOM exchange rate, the fifth such currency control mechanism introduced since 2003.



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[fa icon="calendar'] Apr 26, 2017 @ 10:04 AM / by Morgan Grenier

While the official exchange rate for Venezuelan Bolivares Fuertes is USD1.00=VEF10.00, the black market rate in Caracas on Friday, April 24th reached 4711.73 bolivars per USD, the highest in the country’s history, and a depreciation of 6.4% in the last week and 40.5% in the last month.



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[fa icon="calendar'] Dec 16, 2016 @ 02:32 PM / by Morgan Grenier

This has been a year of economic upsets and surprises around the globe. On the heels of India’s demonetization of five-hundred and one-thousand-rupee notes, Venezuela has recalled its one-hundred-bolivar note, previously their highest denomination bill.



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[fa icon="calendar'] Apr 07, 2016 @ 04:26 PM / by Christopher Zeitz

CARACAS, Venezuela - About one month ago, Venezuela announced another overhaul to the complex currency exchange system in the oil rich but economically troubled country.



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