The Chamber reiterated that it continues working towards a solid and transparent digital economy, in which exchange regulations are respected. Image: Official Cavecom-e website
Guacamaya, June 17, 2025. The Venezuelan Chamber of Electronic Commerce (Cavecom-e) warned that setting prices for goods and services in dollars and charging at the euro rate constitutes an illegal practice. The organization also reminded merchants, entrepreneurs, and business owners that the official exchange rate is determined solely by the Central Bank of Venezuela (BCV).
In recent months, various establishments have chosen to reference their prices in euros, largely as a response to the growing gap between the official exchange rate and the value of the dollar in the parallel market. However, although the strategy seeks protection against exchange rate volatility, merchants are obligated to charge in the currency in which they defined their cost structures.
Cavecom-e emphasized that, although it is legal to express prices in foreign currency—such as euros or dollars—it must always be done using the BCV’s official rate. Furthermore, it pointed out that the possibility of paying in bolivars at the corresponding exchange rate must be guaranteed. Thus, it is prohibited to condition sales exclusively on foreign currencies or to use unofficial exchange rates.
Below is the full statement from the organization:
This warning comes after days of increased monitoring and control by the State against those who promote or use the parallel dollar as a reference. So far, at least 58 people have been detained nationwide linked to the parallel quotation of the US dollar, according to the latest information shared by the Public Ministry (MP).
Cavecom-e urged all actors in electronic and traditional commerce to comply with legal parameters, aiming to promote a transparent and safe market for consumers and entrepreneurs. Although referencing foreign currencies is not new, the legality of these operations depends on compliance with official rates and the possibility of paying in bolivars.
