In a press conference, Minister of Economy, Finance, and Public Banking Rodolfo Marco Torres announced that the quota of dollars for travels overseas would remain at USD 3,000 per year, at the foreign exchange rate of VEB 12 per dollar traded under the Ancillary Foreign Currency Administration System (Sicad)
On Tuesday, during a press conference, Minister of Economy, Finance, and
Public Banking Rodolfo Marco Torres announced that the unified
Ancillary Foreign Currency Administration System (Sicad) would be
launched, with a foreign exchange rate of VEB 12 per US dollar –a rate
that could slip upwards or downwards, depending on auction sales of US
dollars.
Torres announced that the quota of dollars for travels overseas would remain at USD 3,000 per year, at the foreign exchange rate of VEB 12 per dollar, traded under Sicad.
As for the alternative foreign exchange system, whose official name will be Marginal Foreign Exchange System (Simadi), Marco Torres explained: "We are heading towards a free system with bidders, and the market itself would set the foreign exchange rate."
To access the Simadi, 3,792 points of sale will be set and foreign currency can be bought and sold by individuals and companies in cash or via transfers.
The minister added that raw material, foodstuffs, and drugs would be imported at the foreign exchange rate of VEB 6.30 per dollar. According to Marco Torres, 70% of supply would be procured at that foreign exchange rate.
The second foreign exchange system, resulting from the unification of the Ancillary Foreign Currency Administration Systems (Sicad 1 and 2), will operate using the last forex rate for Sicad 1 (VEB 12 per US dollar) as benchmark. This system is expected to meet 30% of the country's needs.
Torres announced that the quota of dollars for travels overseas would remain at USD 3,000 per year, at the foreign exchange rate of VEB 12 per dollar, traded under Sicad.
As for the alternative foreign exchange system, whose official name will be Marginal Foreign Exchange System (Simadi), Marco Torres explained: "We are heading towards a free system with bidders, and the market itself would set the foreign exchange rate."
To access the Simadi, 3,792 points of sale will be set and foreign currency can be bought and sold by individuals and companies in cash or via transfers.
The minister added that raw material, foodstuffs, and drugs would be imported at the foreign exchange rate of VEB 6.30 per dollar. According to Marco Torres, 70% of supply would be procured at that foreign exchange rate.
The second foreign exchange system, resulting from the unification of the Ancillary Foreign Currency Administration Systems (Sicad 1 and 2), will operate using the last forex rate for Sicad 1 (VEB 12 per US dollar) as benchmark. This system is expected to meet 30% of the country's needs.
Read more Click here / www.trade4x.net
No comments:
Post a Comment