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The Central Bank of Venezuela informs that the exchange rate weighted average resulting from the daily operations of the active change tables of the participating banking institutions was located in 63,4139 Bs/USDpresenting an increase of 0.2074 bolivars (+0,3281%).
Annual exchange rate variation
Table of Contents
- 1. Annual exchange rate variation
- 2. Other published rates
- 3. Informative rates of the banking system (BS/USD)
- 4. Historic of the daily closure of the referential rate of the BCV
- 5. Input navigation
- 6. How do inflation and oil production interplay with the exchange rate in Venezuela, and which factor do you believe has the most significant impact?
- 7. Interview with Dr. Ana emerging market strategist and regional analyst for Grupo Financiero RF, on Venezuela’s Changing exchange Rates
- 8. Archyde: Dr. Ana, thank you for taking the time to speak with us today. Let’s dive right in.The Central Bank of Venezuela (BCV) recently announced a significant increase in the exchange rate. Can you walk us through the latest developments?
- 9. Archyde: Speaking of trends, the annual accumulated variation stands at +22,103.6%. How does this compare to previous years, and what might be driving this change?
- 10. Archyde: Given these complexities, how do you foresee the exchange rate evolving in the near future?
- 11. Archyde: Dr. Ana, you’ve mentioned inflation and oil production. How do you think these factors interplay with the exchange rate, and which do you see as having the most significant impact?
- 12. Archyde: what key takeaways would you share with our readers regarding Venezuela’s exchange rate dynamics?
The annual accumulated variation of exchange rate It is from +22,1036%. With respect to February 23, 2024 (referential date), the increase has been of 75,0175%.
At the same day last year the annual accumulated variation had been +0,8416%.
Value date: Monday, February 24, 2025.
Other published rates
 |
EUR |
66,38484121 |
 |
CNY |
8,74348863 |
 |
TRY |
1,74195825 |
 |
RUB |
0,7111366 |
Informative rates of the banking system (BS/USD)
| Indicator date | Banco | Buy | Sale |
| 21/02/2025 | Mercantile Bank | 63,2332 | 63,3659 |
| 21/02/2025 | Provincial BBVA | 63,25 | 62,8138 |
| 21/02/2025 | BNC National Credit Bank | 63,564 | 63,1249 |
| 21/02/2025 | Bancaribe | 63,3021 | 63,2412 |
| 21/02/2025 | Banesco | 62,8009 | 64,3482 |
| 21/02/2025 | Other institutions | 63,6338 | 64,6948 |
Historic of the daily closure of the referential rate of the BCV
You can consult the historical of the daily closure of the BCV referential rate
How do inflation and oil production interplay with the exchange rate in Venezuela, and which factor do you believe has the most significant impact?
Interview with Dr. Ana emerging market strategist and regional analyst for Grupo Financiero RF, on Venezuela’s Changing exchange Rates
Archyde: Dr. Ana, thank you for taking the time to speak with us today. Let’s dive right in.The Central Bank of Venezuela (BCV) recently announced a significant increase in the exchange rate. Can you walk us through the latest developments?
Dr. Ana: Thank you for having me. Indeed, the BCV reported an increase in the official exchange rate, with the average now standing at 63,413.90 Bs/USD, marking a +0.3281% change. This shift is part of a broader trend reflecting the complexities of Venezuela’s economy.
Archyde: Speaking of trends, the annual accumulated variation stands at +22,103.6%. How does this compare to previous years, and what might be driving this change?
Dr. Ana: In contrast to last year,when the annual accumulated variation was +0.8416%, this year’s figure reflects a much more significant devaluation. Multiple factors contribute to this change, including inflation, economic sanctions, and reduced oil production. Moreover, the country’s economic landscape is dynamic, with constant adjustments in exchange rate policies.
Archyde: Given these complexities, how do you foresee the exchange rate evolving in the near future?
Dr. Ana: Predicting exchange rates with certainty is challenging, given the volatile nature of emerging markets like Venezuela. However, we might continue to see fluctuations as authorities strive to balance their budgets and maintain access to international markets. It’s crucial to note that exchange rate policy is just one piece of the puzzle; reforming Venezuela’s economic model will require addressing myriad interconnected challenges.
Archyde: Dr. Ana, you’ve mentioned inflation and oil production. How do you think these factors interplay with the exchange rate, and which do you see as having the most significant impact?
Dr.Ana: Inflation and oil production are intricately linked to the exchange rate. Hyperinflation erodes the value of the bolivar,putting upward pressure on the exchange rate. Meanwhile, reduced oil production decreases Venezuela’s foreign currency earnings, straining the balance of payments and possibly leading to further devaluation. Both factors are crucial, but managing inflation effectively could have the most significant knock-on effects for the exchange rate and the broader economy.
Dr.Ana: first, understanding Venezuela’s exchange rate dynamics requires considering the broader economic context.Second,policy reform will be vital to address the structural challenges facing the Venezuelan economy. Lastly, while the exchange rate matters, it’s essential not to overlook other critical aspects, such as fiscal sustainability, productivity growth, and social welfare.
Value date: Monday,Febuary 24,2025.
