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Venezuela currency depreciates 21% against the dollar in one week

Ambulante segurando notas de bolívar, em Caracas, em fevereiro: moeda sofreu corte de 14 zeros desde 2008
Walker holding bolivar notes, in Caracas.| Photo: EFE/ MIGUEL GUTIERREZ

8014136378001The bolivar, the currency of Venezuela, has devalued 8014136378001 % against the dollar in one week, according to the report released last Friday by the country’s Central Bank (BCV), which places the price of the American currency at 7,85 bolivars.

8014136378001On Friday of last week, the dollar closed at 6,18 bolivars on the official market, which represents a price increase of 27%, an unprecedented increase in recent months and which has a direct impact on the prices of goods and services, calculated mostly in US currency.

On the other hand, the dollar quotation in the parallel market, which governs several transactions, rose 23%, going from 6,95 bolivars to 8,56 this week, which devalued the local currency by 18%, according to the website Monitor Dólar Venezuela, which offers the daily price taking into account several markers.

Ambulante segurando notas de bolívar, em Caracas, em fevereiro: moeda sofreu corte de 14 zeros desde 2008 The authorities had been making efforts to contain the official exchange rate and, consequently, inflation, implementing a strategy that consists of controlling the demand for dollars, reducing the issuance of bolivars, necessary to buy foreign currency , by reducing public spending and restricting bank credits.

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