Venezuelans’ Currency Allowance to Drop to $2,500, Verdad Says

Venezuela’s foreign exchange agency, known as Cadivi, will reduce its quota of foreign currency for travelers going abroad to $2,500 from $5,000 as of tomorrow, La Verdad reported, citing people familiar with the decision. Cadivi met yesterday and its decisions will be published today in the Official Gazette, which records government actions, the Maracaibo newspaper said. Venezuelans seeking to buy the U.S. currency at the fixed exchange rate of 2.15 bolivars to the dollar will also now need to show an airline or bus ticket out of the country, the newspaper said.