The Central Bank of Venezuela (BCV) reached this week the figure of 516 million dollars in foreign exchange intervention after the last injection made on Monday, February 5 for an amount of 70 million dollars.

According to the information, this last intervention, which was the ninth placement of currency by the Central Bank in the bank, was carried out at a rate of 36.29 bolivars per dollar, the official rate of the currency that day.

On the other hand, they contrast that at the same date last year, the institution had sold 295 million dollars, therefore, there has been an increase of more than 74 % in disbursements for foreign exchange intervention compared to 2023.

It should also be noted that after intervening with 446 million dollars during January, the official price of the dollar in Venezuela ended the first month of 2024 with an increase of 0.83% to close at 36.26 bs/USD, while the parallel exchange rate fell 2.43 % to close the period at 38.18 bs/USD.

The official rate price is around 36 bs/USD, and the parallel at 37 bs/USD.

In this context, the view is reinforced that the BCV is determined this year to implement a more aggressive intervention strategy to contain the exchange rate.

K. Tovar

Source: Cointelegraph

(Reference image: @ActualidadRT, X)

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La entrada BCV has sold about 516 million dollars in two months apareció primero en Bitfinance.