The sectoral vice-president for Economy, Tareck El Aissami, emphasized on Tuesday that the Venezuelan exchange market will begin to function normally gradually.
El Aissami recalled from Miraflores Palace that the National Government resumed the ordinary auction system of the DICOM and with the entry into force of the Exchange Agreement Number 1, issued by the Central Bank of Venezuela (BCV), the country may have access to a real currency
“I invite the entire country, the entire Venezuelan people, especially the business sectors, the productive forces of Venezuela to read, understand, analyze and study the new exchange agreement No. 1”, said the Vice President.
He also said that the new agreement is part of the new advantages of the exchange policy that is planned within the framework of the Economic Recovery Program promoted by President Nicolás Maduro.
The country will leave behind the so-called Black Market:
The Sectoral Vice President maintained that a single fluctuating exchange rate allows investors to have access to a real currency: “When I say real, not subject to the criminal indicators of the speculative market”.
He added that all banks, public and private, have been authorized for any exchange operation.
“The banks must publish the rate resulting from the DICOM auctions on a daily basis, in accordance with the provisions of exchange agreement number 1, published by the BCV”, he said.
Banks as exchange operators:
“The banks, along with the exchange houses, can function as exchange operators”, said El Aissami in his speech.
The Vice President reaffirmed that any person who demands currency can do it in any banking agency.
With this exchange policy, El Aissami explained that the Venezuelan exchange market will eventually begin to function normally, once the operations come into force.
Exchange Agreement No. 1 was published in Official Gazette Extraordinary 6.405 dated Friday, September 7, 2018.
