Note Neighboring Countries

From January, 2008 Venezuela has modified its system of foreign exchange rate, with the creation of Bolivar Fuerte. Since then there have been several exchange rate agreements. From 10th March, 2016 the system of control of foreign exchange rate includes two kinds of rates:

Type 1. Transactions on foreign currency with protected exchange rate- DIPRO, according to the agreement 35, article 1, published in the Gaceta Oficial de la República Bolivariana de Venezuela, 40865, 9th March, 2016. In which an exchange rate of Bs/US$ 9.975 is fixed as bid rate and Bs/US$ 10 is fixed as ask rate. This exchange rate applies mainly for imports of goods related to food and health sectors and all the raw materials related to those sectors.

Type 2.  Transactions on foreign currency with a suplementary floating exchange rate - DICOM, according to the foreign Exchange rate agreement 35, article 17, published in the Gaceta Oficial de la República Bolivariana de Venezuela, 40865, 9th March, 2016. This exchange rate modified the SIMADI system, established on February, 2015 according to the foreign exchange rate agreement 33, article 24, published in the Gaceta Oficial de la República Bolivariana de Venezuela. 6171, special issue, 10th February, 2015.