Interim President of Venezuela Delcy Rodriguez has rejected the idea of introducing the US dollar as the country's official currency. She said the solution to economic problems lies in strengthening the national currency - the bolivar.
“Dollarization will not solve Venezuela's problems. The solution lies in strengthening the national currency, which will not only secure trade but also financial processes, as well as guarantee financing for Venezuela,“ Rodriguez said.
Her statement was made at the 82nd annual assembly of the Federation of Chambers of Commerce and Industry and Associations of Venezuela, known as Fedecamaras. The forum is being held on October 8 and 9 in Caracas, and the speech was broadcast by the state-run Venezuelan television network, Televisión Venezolana.
The Bolivar Remains at the Center of Politics
Rodríguez stressed that her position is not new and that she has defended it for years. According to her, the national currency should have a leading role both in payments and in the financial system and lending to the economy.
The US dollar is widely used in Venezuela and often serves as a reference point in setting prices and making transactions. However, this does not automatically mean official dollarization, in which the dollar would replace the national currency as the main legal tender.
The topic again entered the center of public and economic debate in 2026 after proposals for a wider or formal use of the US currency. The idea has met with resistance from government officials, including Rodriguez.
Discussions with businesses in Caracas
The Fedecámaras assembly brings together representatives of the public and private sectors. Among the topics discussed are tax policy, the restoration of the electricity system, and the development of the oil and financial industries.
In her speech, Rodriguez linked the defense of the bolivar with the need for access to financing for local businesses. She did not announce a specific timetable for changing the currency regime, but confirmed the course towards preserving and strengthening the national currency.
Sources: jornada.com.mx, finanzasdigital.com, elpais.com