The National Consumer Price Index (INPC) of Venezuela increased by 37.2% in December in monthly terms and year-on-year inflation is now at 305.7%, according to the Venezuelan Finance Observatory (OVF), an independent organization of economic information.
This monthly increase is the highest in the…
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Browsing Tag
digital bolivar
Maduro wants a stable exchange system
Venezuelan President Nicolás Maduro recently assured in an interview that he intends to create a stable exchange system.
In a conversation with the Spanish journalist and writer, Ignacio Ramonet, the president spoke about the economic…
Venezuela’s economic challenges for 2022
The Venezuelan economy in 2021 was characterized by a series of restrictions imposed by the government due to the pandemic. However, for 2022 great challenges are assigned to achieve economic growth in the country.
The main economic…
The conversion makes the dollar official national currency
The monetary reconversion that came into effect as of today, "will not put a brake on inflation, because the bolivar does not have a way to maintain its value, causing the dollar to become the currency of daily use." This was stated by the…
Venezuela starts October with a new monetary cone
From this October 1st, Venezuela implements a new monetary scale and a new cone, which also means the elimination of six zeroes from the local currency that will now become the Digital Bolívar.
According to the Central Bank of Venezuela…
Venezuelan banking will be inactive soon
The vice president of Venezuela, Delcy Rodríguez, reported that from September 30 at approximately 8:00 pm, and until 6:00 am on October 1st, banking activities will be restricted due to currency reconversion.
This was reported by…
Venezuelan banks will adjust platforms to new monetary expression
Venezuelan financial entities will not offer regular service to citizens at the different headquarters "main, agencies, branches, offices and ticket offices" on Thursday, September 30 and Friday, October 1st, due to the changes in their…
Prices must be expressed in sovereign and digital bolívar from September 1st
The value of the products and services in the market, in view of the users, must be expressed in the sovereign and digital bolivars as of this first of September. This was reported by the Central Bank of Venezuela (BCV) through its official…
Venezuelan inflation could close between 1,400 and 1,500 % by December
Venezuelan inflation has been decelerating compared to previous years. It is estimated that by the end of 2021 it will close at levels close to 1,400 or 1,500 %. This was stated by the CEO of the consulting firm Aristimuño Herrera &…
Focus Economics estimates that inflation will close the year at 1,549 %
Asdrúbal Oliveros released, this August 10, a video on his social networks, explaining the perspectives of the consulting firm Focus Economics on the dynamics of the Venezuelan economy for the last months of 2021 and for the next year 2022.…
BCV announces new currency reconversion in Venezuela
The Central Bank of Venezuela (BCV) announced that as of October 1st, the Bolívar Digital will come into effect in Venezuela, which implies a monetary reconversion.
The Venezuelan agency detailed through a statement that the new monetary…
Maduro bets on the digitization of the economy
The President of Venezuela, Nicolás Maduro, reported on his plans to implement the use of a "digital Bolivar" in the country.
Despite not offering further details, the national president indicated that "there is a good surprise for the…