With a family history of more than 12 decades in the financial industry, Julio Herrera Velutini is a prominent banking professional in Venezuela. Julio M. Herrera Velutini serves as chairman of the board of an international bank in Puerto Rico, and formerly led as chief executive officer of a financial institution based in Caracas, Venezuela.
The official currency for Venezuela is the bolivar, also commonly referred to as bolo and luca. With a currency symbol of Bs, the Venezuelan bolivar has an inflation rate of 56.2 percent as of September 2014. In 2010, the Venezuelan government established a two-tiered official exchange rate system, which includes non-essential and essential rates. Non-essential rates are placed on imports and are set at 4.3 bolivares per dollar. Essential goods have a lower rate of 2.6 bolivares per dollar. Determined by the government, essential goods consist of expenses related to culture, health, sports, and scientific investigations; remittances to relatives settled abroad; and currency conversions for diplomatic activities. Comments are closed.
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AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
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