economy
May 7, 2026
Bloomberg
The Venezuelan government has increased dollar sales and allowed the bolívar to weaken, thus narrowing the gap with the parallel market and easing inflationary pressure. Bloomberg The bolívar has lost 7% of its value this week, hovering around 715 per euro in the so-called intervention market, measured against the European bloc's currency. This is the largest weekly devaluation since the system was re-established at the end of March, leaving the bolívar only slightly stronger than in the informal market.
TL;DR
- The Venezuelan government has increased dollar sales and allowed the bolívar to weaken.
- The bolívar has lost 7% of its value against the euro this week, approaching the parallel market rate.
- The central bank sold $1.5 billion in April and plans to sell $1.35 billion in May.
- Venezuela's monthly inflation slowed to 10.6% in April, the lowest since June 2023.
- The country now has three distinct dollar prices: the central bank's reference rate, a weaker intervention rate, and the informal parallel market rate.
- Economists suggest simplifying the currency system to address its current costliness.