The price of the official dollar in Venezuela continues the upward trend that it has registered in the last month by exceeding 8 bolivars this Thursday, when just two weeks ago it had crossed the threshold of 7 bolivars, according to the report of the Central Bank (BCV).
According to the issuing entity, the currency closed the day this Thursday at 8 bolivars, which represents an increase of 14% compared to last August 24, when the exchange rate had reached 7.01 bolivars per dollar. .
Furthermore, according to BCVthe price of the US currency increased 36% in the last month, since last August 8 it stood at 5.85 bolivars.
This has caused the local currency, the bolivar, to have devalued 26.8% in the last 30 days.
The increase in the exchange rate has a direct impact on prices in bolivars, where most goods and services are fixed in the US currency.
Attention????|| The exchange rate published by the BCV is the weighted average of the operations of the banking institutions’ exchange desks. At the close of business on Thursday 09-08-2022, the results are:#Exchange market #BCV???????? pic.twitter.com/YfkS9wswrO
– Central Bank of Venezuela (@BCV_ORG_VE) September 8, 2022
After the rise in the price, some economists predict that, in August, official inflation will accelerate, whose data must be provided by the BCV and which registered in June and July rates of 11.4% and 7.5%, respectively, the two higher increases so far this year.
In the absence of the issuing entity providing the information, the Venezuelan Finance Observatory (OVF), an independent entity made up of economic experts, reported this Monday that inflation in August shot up to 17.3%, 12 points more than in July , according to data released by this entity.
Venezuela emerged last December from a hyperinflation that it entered in 2017 and that, for four years, reduced the value of the bolivar, as well as the confidence of citizens in the national currency, for which they unofficially adopted the dollar in an attempt to protect your income.