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The dollar exchange rate in Venezuela is quoted this Wednesday, March 1, at the level of 24.75 bolivars per dollar in the parallel market, according to the Dolar Today portal.
Meanwhile, the euro was trading at 23.27 bolivars on the street (exchange office) in Caracas.
Similarly, the exchange rate for the dollar in Cúcuta, Colombia, a city close to the Venezuelan border, was 26.57 bolívares.
For its part, the rate of bolivar to sol is 6,188 bolivars, according to the portal. ChangeItalo, at the rate of Banco Banesco. In other banks, the rate is 5995 bolivars.
Monitor dollar exchange rate in Venezuela
Meanwhile, according to the Monitor Dollar portal, it sets the average rate at 24.36 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.
Added 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.
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Source: RPP
I’m a passionate and motivated journalist with a focus on world news. My experience spans across various media outlets, including Buna Times where I serve as an author. Over the years, I have become well-versed in researching and reporting on global topics, ranging from international politics to current events.