President Maduro: We have an exchange system based on a real and robust economy

Published at: 29/08/2024 05:44 PM

During a meeting with representatives of Banking, Insurance and Securities, this Thursday, the president of the Bolivarian Republic of Venezuela, Nicolás Maduro, assessed the country's current exchange rate system, which has been fundamental to economic recovery.

“The dollar came in here and, the same way it came in, it came out here converted into imports. Only a catastrophe like the one we experienced in the years 17, 18, 19 and 20 allowed us to lay the foundations of what we now have, which is an exchange rate system based on a real and robust economy,” he said.

He pointed out that this is good news for Venezuela, “a country that sought its own economic formulas”, highlighting “the construction of an exchange system that places the bolivar, precisely, at the value it has to have according to its economic and production capacity of our country, which does not overvalue it.”

The President stressed that this exchange rate system seeks a valuation trend in terms of the real economy and “sets the tone to a large extent, because it is a developing country, a country of the south, it sets the tone for what this country should be economically and in terms of currency.”

Mazo News Team