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ARTICLE · 01 JUNE 2016

Venezuela Announces Changes To Currency Exchange System

Norton Rose Fulbright
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The Central Bank of Venezuela published Exchange Agreement No. 35 in Official Gazette No. 40,865 of March 9, 2016, establishing the rules governing the foreign exchange administration regime (Exchange Agreement No. 35).

VenezuelaFinance and Banking
Norton Rose Fulbright Canada LLP
Norton Rose Fulbright Canada LLP

The Central Bank of Venezuela (Banco Central de Venezuela - BCV) published Exchange Agreement No. 35 in Official Gazette No. 40,865 of March 9, 2016, establishing the rules governing the foreign exchange administration regime (Exchange Agreement No. 35).

This regulation repeals Articles 1 and 2 of Exchange Agreement No. 25; Articles 5, 6, 8 and 15 of Exchange Agreement No. 28; Exchange Agreement No. 29; Exchange Agreement No. 14 and Articles 25 to 31 of Exchange Agreement No. 33, as well as all provisions that conflict with the provisions of this new regulation.

Exchange Agreement No. 35 entered into force on March 10, 2016.

We would like to highlight the following provisions of Exchange Agreement No. 35:

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