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Exchange rates for the euro in the Bolivarian Republic of Venezuela / DICOM * / EUR 1 = VEF ... (buying) / up to 2017

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  1. Exchange rates, euro foreign exchange reference rates, gold prices
  2. Exchange rates in individual countries
  3. Yearly average
  4. EUR Euro
  5. VEF Bolívar (Venezuela, Bolivarian Republic of) / historical
CSV SDMX-ML 2.0 SDMX-ML 2.1
Time series key BBEX3.A.VEF.EUR.CA.AA.B11
Unit VEF
Dimension one
Timespan from 2015 to 2017
Last update 20.09.2023 12:51:19 PM
   
General * Known as SIMADI until 9 March 2016. Multiple exchange rate system. Introduction of the forex trading system SIMADI (Sistema Marginal de Divisas) with effect from 12 February 2015; for additional exchange rates, see BBEX3:A:VEF:EUR:CA:AA:B04 (official exchange rates) and BBEX3:A:VEF:EUR:CA:AC:B08 (SICAD). Exchange rate application from 12 February 2015 to 9 March 2016 Official exchange rate For debt service payments by public-sector entities and for authorised transactions. SIMADI 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. SICAD For the purchase of foreign currency by registered importers and registered domestic households (eg for university studies abroad and for health, sports and culture-related purposes). The exchange rate regime was modified with effect from 10 March 2016. A new system of foreign exchange controls came into force, replacing the previous system which was made up of the official market, the auction procedure SICAD (Sistema Complementario de Administración de Divisas) and the forex trading system SIMADI. The new system consisted of two exchange rates: one fixed by the state (DIPRO) and a complementary exchange rate (DICOM), which was a controlled fluctuating rate. Exchange rate application from 10 March 2016 to 22 May 2017 DIPRO (BBEX3:A:VEF:EUR:CA:AA:B13) For priority goods, services and remittances as well as for the purchase of food, medicine and basic goods and for the settlement of public external debt. In addition, for payments made in connection with transactions and investments in the areas of health care, sports, culture and sciences and other particularly urgent cases such as payments for stays abroad for academic purposes. DICOM For all transactions that were not included in the DIPRO (eg private trips abroad, applications for foreign currency payments by credit card, sales of foreign currency by diplomatic missions and consulates as well as the sale of foreign currency generated through the export and sale of mineral oil products). Changes to the system of foreign exchange controls came into effect on 23 May 2017. The new DICOM auction procedure with one rate replaced the dual exchange rate system introduced in March 2016 which consisted of one fixed exchange rate (DIPRO) for priority goods, services and remittances plus one complementary exchange rate (DICOM) that was subject to fluctuation controls for all other consumer goods. Alongside the official, published exchange rate, there was a considerably different, black market rate according to financial information providers. With effect from 20 August 2018, a currency changeover took place at the ratio of 100,000 bolívar (VEF) = 1 bolívar soberano (VES). Exchange rates as of 2018 see BBEX3:A:VES:EUR:CA:AA:A04.
Methodology Calculated on the basis of month-end rates.
Source Banco Central de Venezuela, Caracas
   
Comment on 2017 Average from May to December 2017; modification of the exchange rate regime in May 2017.
Comment on 2016 Average from March to December 2016; modification of the exchange rate regime in March 2016.
Comment on 2015 Average from February to December 2015.
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