Economist Asdrúbal Oliveros, managing partner of Ecoanalítica, recently indicated in a radio interview that foreign currency transactions in Venezuela have decreased to 16 %, while 84 % are made in bolivars, the local currency.

According to Oliveros, “We are currently at the lowest level of foreign currency use in Venezuela.” He emphasized that “the aggregate of all currencies is 15.8% of the total. 84 % of transactions are being used in bolivars and 16 % in foreign currency.”

He mentioned that, according to a recent study by Ecoanalítica, Caracas, the country’s capital, concentrates 93 % of transactions in bolivars, leaving only 7 % in foreign currency.

The city of Mérida, in the Andean region, follows closely behind, “with 91% in bolivars and 9% in foreign currency.” However, the situation is slightly different in cities like Maracaibo and Margarita, where foreign currency transactions are, respectively, at 24% and almost 49%.

Oliveros stated that foreign currency transactions are made “86 % in cash, 2 % with international cards, and the remainder is marginal.” According to the study, there is also a marked reduction in cash in dollars in the country, with a 37% drop in the stock.

M.Pino

Source: alnavio

(Reference image source: Giorgio Trovato on Unsplash)

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La entrada Foreign currency transactions decrease in Venezuela apareció primero en Bitfinance.