The dollar in Venezuela exceeded 400 bolivars in the official foreign exchange market
The official dollar exchange rate continues to rise and pressures prices in Venezuela, while authorities evaluate measures
TL;DR
- The US dollar is priced at over 400 bolivars in Venezuela's official foreign exchange market.
- The euro is priced at 472.83 bolivars.
- The dollar remains the primary reference for pricing in Venezuela.
- The dollar's official price has increased by 33.5% year-to-date.
- This leads to higher prices and reduced purchasing power for those paid in bolivars.
- Authorities are developing a law to protect socio-economic rights, aiming to link merchants' price reductions to a lower dollar cost.