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Venezuela - Ban On Currency Exchange For Local Residents Was Lifted

  • Venezuela - Ban On Currency Exchange For Local Residents Was Lifted

KYIV (FNI) - The Constitutional Assembly of Venezuela abolished the 15-year ban on the population for currency exchange. Thus, the level of hyperinflation in the country may be weakened.

The details of taking such measures are passed by Reuters.

"The purchase of currency in Venezuela was banned for 15 years. Such actions could only be performed by the Central Bank. Thanks to this, the population will now be able to buy foreign currency in specialized institutions that have received a license for this, "Reuters reports.

The ban on the sale and purchase of foreign currency in Venezuela was introduced in 2003 by former President Hugo Chavez.


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