Venezuela banks close for June holidays as exchange‑arbitrage queues swell

The Venezuelan banking system will suspend public services on Wednesday, 24 June, for the national holiday commemorating the Battle of Carabobo, and again on Monday, 29 June, for the feast of Saints Peter and Paul. All branches and teller windows will be closed, but electronic channels—including online transfers, mobile payments and account queries—will remain operational.

Meanwhile, long lines have re‑appeared outside branches such as the Banco de Venezuela in San Antonio del Táchira. Customers are queuing to obtain prepaid debit cards that can be loaded with dollars purchased at a parallel rate of 615‑660 bolívares per USD. The price gap, estimated at about 30 %, allows users to transfer the electronic dollars to platforms like Binance, convert them back to cash and capture a 20‑30 % profit after fees. Bank officials say card issuance has risen from six to over 60 per day, and the Central Bank is expected to inject roughly US$2.5 billion into the system to ease the imbalance, though no official statement has been released.