Money Transfers to Venezuela: remittance flows amidst evolving foreign exchange
This reports offers an overview of how foreign currency regulations affect money transfers to Venezuela in addition to describing and explaining Venezuelan migrant remitting behavior in six migrant host countries. It also provides an estimate of the aggregate volume of remittances sent to Venezuela.
The first section details how policies regulating local and international currencies have evolved under the Maduro administration, including those related to currency devaluation, the creation of parallel currency regimes and the impact of the sovereign bolivar on money transfers.
The second section provides a comparative overview of remitting behavior to Venezuela from six sending countries: Chile, Colombia, Costa Rica, Panama, Spain and the United States. It offers a profile of those who remit to Venezuela, how much they send, and how many households receive remittances.