BCV: Minimum amounts for currency purchases in banks and exchange houses eliminated
05 October 2022
The minimum amount published in the Official Gazette in 2019 is suspended in transactions and retail for the purchase of currency in banks and exchange houses.
The Central Bank of Venezuela eliminated the minimum amounts for retail sales of foreign currency that banks and exchange houses may make to their natural and legal clients, according to a circular published by the issuing entity on Monday, September 26.
In an official notice published in the Official Gazette No. 41.580, dated February 6, 2019, the BCV had established a minimum amount of 50 euros or its equivalent in another foreign currency for individuals and 500 euros for legal entities.
The new circular maintains the maximum amount of 8,500 euros or its equivalent in another foreign currency per operation for the purchase of foreign currency by banks and exchange houses. This is the maximum limit established in the current Exchange Agreement No. 1 in its article 19.
The circular states that the maximum amounts for foreign currency sales operations per client or user that banks and exchange houses may carry out are: 1,000 euros or its equivalent in another currency per day; 4,000 euros per month and 8,500 euros per calendar year.