© Reuters. The price of the dollar in Venezuela continues to rise and exceeds 18 bolivars
Caracas, Jan 5 (EFE).- The official price of the dollar in Venezuela surpassed the barrier of 18 bolivars on Thursday, closing the day at 18.39, according to data provided by the Central Bank (BCV), which has reported in in recent weeks an incessant increase in the price of the US currency in the country.
In this way, the local currency -the bolivar- has devalued 6.96% against the dollar in just eight days, a dynamic that reinforces the rejection of Venezuelans to their monetary sign, who seek to exchange for foreign products or currencies to try to protect your income from accelerating depreciation.
This rapid increase in the value of the dollar, used to set the prices of most products in the country, caused inflation to accelerate, which closed November at 21.9% and December at 37.2%, the highest rate. high in the last 22 months, according to the Venezuelan Finance Observatory (OVF), data that the BCV has not yet reported.
The OVF, an independent entity made up of experts, warned this Thursday that the “pronounced accelerations in inflation that have been registered since September 2022, could” put the country’s economy “in danger of a hyperinflationary outbreak, which is taking strength with the sustained devaluation of the bolivar”.
The bolivar closed last year with a 73% devaluation against the dollar compared to December 30, 2021, after the currency price increased by 280% in that period in the official market.
On the other hand, the dollar in the parallel market exceeded 20 bolivars this Thursday, closing at 20.28 bolivars, according to the Monitor Dólar Venezuela portal, which offers the daily price taking into account various markers.