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- CADIVI abstract "CADIVI (Comisión de Administración de Divisas - Commission for the Administration of Currency Exchange) is the Venezuelan government body which administers legal currency exchange in Venezuela. Exchange controls under CADIVI were adopted on 5 February 2003 in an attempt to limit capital flight, in the aftermath of a two-month strike/lockout aimed at toppling the government, which saw GDP fall 27% during the first four months of 2003. The official buy/sell exchange rate was initially fixed at BsF. 4.28 / BsF. 4.3 (respectively) per US Dollar (USD). Currently the official buy/sell exchange rate is fixed at BsF. 6.3 (respectively) per US Dollar (USD). According to the Bank for International Settlements, "The Central Bank of Venezuela (BCV) fixes a monthly allocation of foreign currency to be administered by CADIVI, purchases foreign currency from residents, and sells foreign currency to the public and private sectors subject to approval from CADIVI." Under Venezuelan law PDVSA must sell its foreign exchange to the Central Bank, thereby providing the bulk of foreign currency in Venezuela. The Venezuelan private sector requires more foreign exchange for imports than it generates for exports, and is dependent on the Bank to satisfy the difference.A similar agency, RECADI, had been set up in 1983, to manage a system of differential exchange rates and capital controls, and disbanded in 1989 when the differential exchange rate system was abolished. RECADI saw widespread corruption, and became a substantial scandal in 1989 when five former ministers were arrested, although the charges were later dropped.In 2008, the Chavez government removed three zeroes from the bolivar, thus creating a new currency known as the bolívar fuerte (eng. "bolivar") but kept the currency pegged to a higher rate against the dollar than the market value. Since 2003, this has created a scarcity of foreign currency, as confidence in the bolivar declined, and foreign exchange, especially the U.S. dollar, was in greater demand.".
- CADIVI budget "3.0E10".
- CADIVI budget "5.0E10".
- CADIVI formationDate "2003-02-05".
- CADIVI formationYear "2003".
- CADIVI leaderFunction CADIVI__1.
- CADIVI leaderFunction CADIVI__2.
- CADIVI regionServed Venezuela.
- CADIVI wikiPageExternalLink www.cadivi.gob.ve.
- CADIVI wikiPageID "27038283".
- CADIVI wikiPageRevisionID "600686972".
- CADIVI budget "3.0E10".
- CADIVI budget "5.0E10".
- CADIVI formation "2003-02-05".
- CADIVI hasPhotoCollection CADIVI.
- CADIVI headquarters "Caracas".
- CADIVI leaderName "Alejandro Fleming".
- CADIVI leaderTitle "Leadership".
- CADIVI name "Comisión de Administración de Divisas".
- CADIVI regionServed "Venezuela".
- CADIVI website www.cadivi.gob.ve.
- CADIVI subject Category:2003_establishments_in_Venezuela.
- CADIVI subject Category:Economy_of_Venezuela.
- CADIVI subject Category:Government_agencies_established_in_2003.
- CADIVI subject Category:Government_agencies_of_Venezuela.
- CADIVI type Abstraction100002137.
- CADIVI type AdministrativeUnit108077292.
- CADIVI type Agency108337324.
- CADIVI type GovernmentAgenciesOfVenezuela.
- CADIVI type Group100031264.
- CADIVI type Organization108008335.
- CADIVI type SocialGroup107950920.
- CADIVI type Unit108189659.
- CADIVI type YagoLegalActor.
- CADIVI type YagoLegalActorGeo.
- CADIVI type YagoPermanentlyLocatedEntity.
- CADIVI type Agent.
- CADIVI type Organisation.
- CADIVI type Organization.
- CADIVI type Agent.
- CADIVI type SocialPerson.
- CADIVI type Thing.
- CADIVI comment "CADIVI (Comisión de Administración de Divisas - Commission for the Administration of Currency Exchange) is the Venezuelan government body which administers legal currency exchange in Venezuela. Exchange controls under CADIVI were adopted on 5 February 2003 in an attempt to limit capital flight, in the aftermath of a two-month strike/lockout aimed at toppling the government, which saw GDP fall 27% during the first four months of 2003.".
- CADIVI label "CADIVI".
- CADIVI label "Comisión de Administración de Divisas (Venezuela)".
- CADIVI sameAs Comisión_de_Administración_de_Divisas_(Venezuela).
- CADIVI sameAs m.0bs66nq.
- CADIVI sameAs Q5008557.
- CADIVI sameAs Q5008557.
- CADIVI sameAs CADIVI.
- CADIVI wasDerivedFrom CADIVI?oldid=600686972.
- CADIVI homepage www.cadivi.gob.ve.
- CADIVI isPrimaryTopicOf CADIVI.
- CADIVI name "Comisión de Administración de Divisas (CADIVI)".