Wednesday 22 September 2021

Venezuela Authorizes Foreign Currency Transactions for Tourism

Paying the bills


Covid Entry Requirements to Panama

RICO's DIGEST - "I heard" is a term often...

107 people died from covid-19 in Costa Rica in the last three days

QCOSTARICA - In the last three days, 107 people...

Mu variant of coronavirus: what we know about this mutation present in Costa Rica

QCOSTARICA - All viruses change over time. SARS-CoV-2 has...

Constitutional Court confirms constitutionality of mandatory vaccination

QCOSTARICA - Costa Rica's Constitutional Court or Sala IV...

Costa Rica worsens its international image as a place to do business

QCOSTARICA - Our country, Costa Rica, worsens in how...

Bukele calls himself ‘The coolest dictator in the worldwide world ’ in his Twitter biography

Q24N - The president of El Salvador, Nayib Bukele,...

U.S. to relax travel restrictions for vaccinated foreign air travelers in November

(Reuters) - The United States will reopen in November...
Paying the bills


Hotels in Venezueal will now be required to open a “special foreign exchange account” registered in Venezuela (Feliz Viaje).

TODAY VENEZUELA – Tourism operators in Venezuela will now be able to accept payments of up to USD $500 daily, or the equivalent in other currencies, for each foreigner.

By means of a memorandum, the Venezuelan Central Bank published the regulations for receiving payments in foreign currency via cash and electronic transactions.

Hotels, bed and breakfasts, and duty free shops are the beneficiaries of this new policy, and will be required to sign operational agreements with banks in order to facilitate foreign currency transactions on behalf of non-resident visitors and international tourists.

- Advertisement -

Tourism operators that receive payments by foreign wire transfers must designate a “special foreign exchange account” registered in Venezuela.

By means of foreign exchange agreements 34 and 36, the government authorized foreign tourists to pay for goods and services in foreign currency; however, it wasn’t until now that the Venezuelan Central Bank established the financial and regulatory framework for implementing such payments.

It’s about a new exchange agreement under the frame of scarcity of currency that Venezuela is facing and a flexibilization of controls in the country, because until now the use and reception of dollars was in the Government’s hands.

The move signals the Venezuelan government’s concern over foreign currency scarcity and a willingness to liberalize currency controls, as up until now foreign currency transactions had been entirely controlled by the government.

Venezuela is currently facing the world’s highest inflation rate, and extreme shortages of foreign currency, which has greatly contributed to widespread shortages. Entrepreneurs and businesses routinely report that they lack access to foreign currencies to pay for imports.

Source: El Estímulo

- Advertisement -

Article originall appeared on

Article originally appeared on Today Venezuela and is republished here with permission.

- Advertisement -
Paying the bills
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

Related Articles

Venezuela government, opposition return to talks in Mexico

Q24N - Delegations from the Venezuelan government and opposition resumed talks...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Article originally appeared on Today Venezuela and is republished here with permission.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.