The gap between the official exchange rate and the rate in the swap market has widened to nearly 20%.
Precious dollars were drained out as Indians bought dollars for gold purchases at 50% above the official exchange rate.
Petrol costs less than 5 cents a litre in Venezuela at the official exchange rate, but raising the price is politically sensitive.
It also managed to narrow the gap between the official exchange rate and the price of the dollar in the free market.
He has also said that wages need to rise, though that will have to be accompanied by changes in prices and the official exchange rate.
Now, dollars sell on the black market at three times the official exchange rate and Maduro has had to devalue Venezuela's currency, the bolivar, twice this year.
With hyperinflation, a gap of around 10:1 has opened up between the official exchange rate operated by the bank and the true rate reflected in the black market.
The government has abolished jail terms for those caught dealing in foreign currency, offered extra incentives for private investment and brought the official exchange rate closer to the black-market one.
Before the reforms, the state bought rice from state farms and co-operatives at 82 chon per kilo (100 chon make one won, worth less than a cent at the official exchange rate).
Venezuela's government has stopped issuing import permits, nor is it providing dollars at the official exchange rate for imports from Colombia (a dollar costs almost three times more on the parallel market).
ECONOMIST: Hugo Ch��vez stamps out regional economic integration
Since the rules were introduced in November 2011, Paypal has been used as an alternative means of obtaining the US currency close to the official exchange rate, which currently stands at about 4.7 pesos per dollar.
The country's current foreign-exchange system, which involves a fixed "official" exchange rate that makes the currency, the kyat, more than 100 times as valuable against the dollar as the black-market rate, is so confusing that many foreign companies have refused to re-enter the country even if Western leaders ease sanctions against Myanmar, the country also known as Burma, as expected later this year.
In Zimbabwe, the black-market exchange rate is nearly ten times the official one.
On Thursday, Iran's central bank devalued the rial by 8% against the dollar and ordered all currency-exchange shops to adhere to the official rate or be shut down, according to Iran's official media.
This action targets those people that have been using credit cards as a way to purchase at the official rate rather than the black market rate, in effect creating a dual credit card exchange regime.
Venezuela has a fixed official exchange rate of 2.15 to the dollar.
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