How to reduce the exchange rate gap?

Guillermo García N. financial advisor commented: "Without a doubt, this is the big question that all Venezuelans ask, including the BCV itself. In my opinion, reducing the exchange rate gap and stabilizing the exchange rate requires the establishment of additional measures beyond those being implemented by the BCV and the Ministry of Finance. In this regard, on this occasion, I present a proposal of measures and considerations for evaluation by the BCV and the National Executive."

1. Compensation in dollars:

Interbank compensation in dollars and electronic transfers between clients in different banks. Carry out investment operations of own and third-party portfolios in the national securities market of Venezuelan companies that issue securities in dollars.

2. Dollars in the Stock Exchanges a better alternative for

reference and trading:

The trading of dollars in the Stock Exchanges seeks to improve the supply of foreign currencies and provides an alternative to flexibilize the current exchange market and make the acquisition of dollars much more efficient and economically rational.

3. Venedólar scheme in the stock market:

The mechanism must be transparent: the methodology for allocation and price cuts and amounts assigned by the offered price. Establishing regulations that are clear and flexible enough to adapt to the circumstances that may arise in the trading of both cash dollars and the buying/selling of securities.

4. Modify the Securities Market Law:

Reform Article 2 of the Law, considering the possibility of incorporating the trading of National Public Debt and PDVSA securities.

5. Benefits of implementing the Venedólar scheme:

Provides a safety valve for the exchange market for obtaining foreign currencies.

6. Multicurrency market and emissions in foreign currencies:

Carry out stock market operations in various currencies (dollar, Colombian peso, euro, yuan, yen, and cryptocurrencies).