BCV reinforces exchange intervention in April

The Central Bank of Venezuela has placed 259 million dollars in April to keep the dollar in check

So far in April, the Central Bank of Venezuela, BCV, has placed USD 259 million. The figure represents 49 million more than in the month of March as part of the exchange intervention policy.

Analysts consider that this week there will be another extension of the regulatory entity’s intervention in the exchange market.

After the announcement of the reinstallation of sanctions by the United States, the BCV “sold 66 million dollars to banks this Monday, April 22, an increase of 16 million, or 32% in relative terms.”

The previous week, the sale of dollars to banks reached USD 100 million, in two issues, with the objective of “strengthening the supply of foreign currency in a context of greater uncertainty due to the possible impact of sanctions on export income.” of hydrocarbons to the country.”

Regarding the sale price of the currencies that the BCV placed this Monday, it stood at 38.75 bolivars per euro, equivalent to the official rate of 36.34 bolivars per dollar, in force for all exchange operations for this Monday. The figure represents an increase of 0.23% compared to the placement of USD 50 million on April 18.

The pace of exchange rate intervention by the Central Bank has been stable so far in 2024. However, after the announcement of the reinstallation of sanctions on the hydrocarbon industry, the dynamics could change.


Source: bancaynegocios

(Reference image source: Colin Watts in Unsplash)

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