* Multiple exchange rate system. In addition to the official market and the auction procedure SICAD (Sistema Complementario de Administración de Divisas) the alternative forex trading system SICAD II (Sistema Cambiario Alternativo de Divisas) was introduced with effect from 24 March 2014. Exchange rate application Official exchange rate (BBEX3:A:VEF:USD:CA:AC:B04): For debt service payments by public-sector entities and for authorised transactions. SICAD (BBEX3:A:VEF:USD:CA:AC:B08): For the purchase of foreign currency by registered importers and registered domestic households (inter alia for studying abroad and for health, sport and cultural purposes). SICAD II: For the purchase of foreign exchange by natural and legal persons, eg in the form of foreign notes and coins and currency cheques (including traveller's cheques) and for the sale of foreign currency to domestic households and importers in the form of foreign notes and coins as well as traveller's cheques or for credit transfers. With effect from 11 February 2015, quotations in SICAD II were discontinued.
Methodology
Calculated on the basis of month-end buying and selling rates.
