The bolivar has suffered a devaluation of 44 %
In 2022, the currency of Venezuela, the bolivar, has experienced a devaluation against the dollar that is estimated at 40 %
Taking as a reference the value of the dollar for mid-September, located at 8.02 bolívares, a devaluation of the Venezuelan currency is estimated at 40 %.
The US currency, on the other hand, has shot up in the market, leading to a 3 % devaluation of the bolivar this Friday. These fluctuations in both currencies are part of the high inflation of the Caribbean country, where purchasing power progressively declines.
According to estimates by the Central Bank of Venezuela (BCV), the value of the dollar has increased by 80 % compared to the bolivar so far this year. Being more notorious the phenomenon that occurred last August, when the value of the dollar exceeded 9 bolivars at the exchange rate.
It is noteworthy that the rise in the value of the dollar has a strong and direct impact on the prices of goods and services, which have been fixed in the US currency for some time.
M.Pino
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Source: bancaynegocios
