February 25th, 2002
BCV will report the reference exchange rate
between 3:30 and 4:00 p.m.
Banco Central de Venezuela would like to inform the public that information about the Bs./US$ reference exchange rate will be provided on its web page www.bcv.org.ve every working day (except bank holidays) between 3:30 p.m. and 4:00 p.m.
The calculation of the Bs./US$ reference exchange rate will be based on a weighted average of all exchange transactions carried out that day by banks in the foreign exchange market, including purchases made at BCV dollar auctions.
The period of time between the closing of the foreign exchange market and the publication of the reference exchange rate has been extended so that methodological requirements can be met and the corresponding information for the calculation of the reference exchange rate can be duly compiled. This period is similar to the one established for these purposes in other countries that publish information about reference exchange rates for the foreign exchange market.