Meanwhile, the euro was quoted at 5.84 bolivars in the street (exchangers) of the city of Caracas.
Likewise, the exchange rate for dollars in Cúcuta, Colombia, a city near the border with Venezuela, was 4.58 bolívares.
For its part, the rate of bolívar to sol is 1,411 bolívares, according to the portal ChangesItalo, at the Banco Banesco rate. In other banks, the rate is 1,402 bolívares.
Exchange rate price of the Dollar Monitor in Venezuela
Meanwhile, according to the portal Dollar Monitorsets the average exchange rate at 4.62 bolivars.
The Central Bank of Venezuela (BCV) controls the exchange rate of the Venezuelan currency. The “DolarToday” corresponds to the average value of private operations in the city of Caracasthe value of Cúcuta is determined based on the supply/demand of Bolívares in that city.
The devaluation has caused a loss in the value of the bolivar in the midst of the deep economic crisis that the South American country is experiencing due, among other things, to a significant reduction in the price of oil on the international market.
Added to this problem is inflation which, according to estimates by the International Monetary Fund (IMF), climbed to 10,000,000% at the end of 2019. The Central Bank of Venezuela (BCV) itself revealed that inflation had reached 130,060% in 2018 and that the economy has halved since 2013.