The euro will be a reference for foreign exchange operations

Government will inject 2,000 million euros to the currency exchange market

From now on the dollar will be completely excluded as a reference currency for foreign exchange operations in the country, according to the vice president of Economy, Tareck El Aissami, announced on Tuesday.

"It was determined that all exchange transactions will be made in euros, yuan or any other convertible currency, excluding the dollar," the official said through VTV.

To this end, he indicated that the State will intervene in the exchange market with the injection of 2,000 million euros to strengthen the purchase and sale of foreign currency in the country.

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"The President has decided that two billion euros go to the national exchange market, that the State will intervene in the national exchange market, the government will make foreign exchange offers during the months of November and December for the productive sectors," he said. the official.

He explained that changing the reference currency for these operations is due to the fact that, due to US sanctions, both the Venezuelan public and private sectors have been affected. He referred as an example of the situation the closure of accounts that have suffered national pharmaceutical companies. it has made it impossible to carry out operations in dollars, "he said.

"They have closed the accounts and prohibited transactions with dollars, to realize the madness of imperialism."

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He argued that bank intermediation has raised transaction rates to irrational values, "there are financial sectors that have used sanctions to enrich themselves, that is why from the United States they attack our economic system with greater ferocity," he emphasized.

He added that even Dicom auctions have been affected by the measure and insisted that the sanctions "have intensified in recent weeks," he said.

He also announced that from now on, the entities that make up the banking system in full, and not only the public ones, will be able to participate in the Dicom auctions.

Likewise, El Aissami informed that it was agreed to initiate a new scheme for correspondent banking of public banks abroad, for which alternative markets are being explored in Europe and Asia, he said.

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He indicated that proposals are being heard in this regard, in order to establish the most satisfactory relations. The official also specified that it was agreed to raise nine points from 31 to 40% the legal reserve of the banks before the Central Bank of Venezuela, the purpose is, according to alleged, to avoid that it be used in businesses that are not suitable for the national economy or end in the speculative market, he said.

In the press conference, El Aissami was accompanied by the president of the Central Bank of Venezuela, Calixto Ortega, and the finance minister, Simón Zerpa, and extended that the ANC will be asked to approve a decree that penalizes "everyone that uses notes of the current monetary cone "for the sale or other type of transactions that are not framed in their legal use.

He argued that it is necessary to prevent the strengthening of the market for the purchase and sale of the physical currency of the sovereign bolivar in Colombia, as has been the case with other national monetary cones outside the borders.

He also said that with the extra income that has gone into the Treasury due to the increase in oil, they will boost the delivery of credits for the productive sector and the exporter.

Link of the Page used as Source El Universal

Analysis and Summary of the Publication

It is crazy what happens in Venezuela every day, yesterday the president of Venezuela announces to the whole world that the dollar will no longer be accepted in the economy of the Venezuelan and the Venezuelan who has dollars can be caught and sentenced to prison .

This is what Venezuela needed to sink deeper into poverty and poverty. We can no longer receive dollars from our foreigners that our relatives send us in order to survive in a country that no longer achieves anything. very high cost, where the Venezuelan can not buy a kilo of cheese because he should save a month of work to buy it.

Sadly, President Nicolás Maduro is starving the Venezuelan people, where they no longer get food or medicine for the sick, where children and adults die every day for lack of food or medicine, where crime has increased 87% in less One year, where the light goes like this every day, where there is no gasoline or gas to cook.

Where millions of Venezuelans are emigrating in search of a better future, where to get your passport you have to collect at least 5 months of minimum salary.

We are living a situation that has no comparison, now they want us to use the euro as the reference currency, when we all know we will not have advice to that currency, since the government controls the entire national market and where the president puts him in prison who does not agree with Him

VENEZUELA LIVES IN DICTATORSHIP, HELP US PLEASE.

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