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dollar exchange rate Venezuela It was quoted this Wednesday at 11.00 bolivars to the dollar on the parallel market, Dolar Today reports.
Meanwhile, the euro was trading at 10.56 bolivars on the street (exchange office) in Caracas.
Similarly, the exchange rate for the dollar in Cucuta, Colombia, a city close to the Venezuelan border, was 10.33 bolivars.
For its part, the rate of bolivar to sol is 2794 bolivars, according to the portal ChangeItalo, at the rate of Banco Banesco. In other banks, the rate is 2747 bolivars.
Monitor dollar exchange rate in Venezuela
Meanwhile, according to the Monitor Dollar portal, it sets the average rate at 10.86 bolivars.
central bank Venezuela (BCV) controls the exchange rate of the Venezuelan currency. The DolarToday index corresponds to the average value of private transactions in the city of Dolar. Caracasthe cost of Cucuta is determined based on the supply / demand of Bolivares in this city.
The devaluation caused a loss in the value of the bolivar in the midst of a deep economic crisis that the South American country is experiencing, including due to a significant decrease in the price of oil on the international market.
Adding to this problem is inflation, which, according to International Monetary Fund (IMF) estimates, rose to 10,000,000% at the end of 2019. The economy has halved since 2013.
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.