Resolution No. 13-02-02 of the Venezuelan Central Bank
Resolution No. 13-02-02 (the “Resolution”), issued by the Venezuelan Central Bank, was published in Official Gazette No. 40.109, dated February 13, 2013. The Resolution establishes that the accounting valuation and recording of the assets and liabilities denominated in foreign currency will be made at the rate of exchange of Bs. 6.2842 per Dollar of the United States of America in the case of purchases and Bs. 6.30 per Dollar of the United States of America in the case of sales.
The Resolution repeals Resolution No. 11-10-01 of October 11, 2011. It became effective upon its publication in the Official Gazette.
In order to access said Resolution, please click here.
“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”