Travieso Evans Arria Rengel & Paz

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Awarding No. E05-2014

On March 21, 2014, the National Center of Foreign Trade (Centro Nacional de Comercio Exterior -“CENCOEX”) informed of the results of the Awarding of the Auction of the Complementary System of Foreign Currency Administration (Sistema Complementario de Administración de Divisas - “SICAD”), called on March 17, 2014. The final results of the Auction were as follows:

 

• The total amount was USD 218,860,752.23.

• The foreign currency awarded will be paid at Bs. 10.80 per USD 1.00.

 

In order to access the results of call No. E05-2014, please click here:

 

http://www.cadivi.gob.ve/images/stories/pdfs/Sicad/Resultados/resultados_sicad5.pdf

 

“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.”