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💸 BINANCE P2P

🟢Buy: Bs. 945,00 Bs 🔽
🔴Sell: Bs. 944,00 Bs 🔽

🤝💲Spread: 10,56%🔽

🙂INTERVENTION RATE: 853,81 Bs

🤩Amounts in Bs that you should have to buy through INTERVENTION at each bank DATE: 21/09

🏦For banks with amounts:

With 100$ (85.381 Bs)

With 200$ (170.762 Bs)

With 300$ (256.143 Bs)

With 400$ (341.524 Bs)

With 500$ (426.905 Bs)

With 1000$ (853.810 Bs)

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Hermes Pérez: Despite record FX injection from the BCV, the exchange-rate gap does not ease

Interventions by the Central Bank of Venezuela (BCV) in the currency exchange desks have accumulated more than US$12 billion year-to-date, a figure boosted by the international price of oil but still insufficient to eliminate the exchange-rate gap and contain pressures on the national currency.

According to an analysis by economist Hermes Pérez, the most recent head of the BCV’s Exchange Desk, the volume offered by the issuing authority doubles the amount traded in the same period of the previous year and triples what was recorded two years ago.

This increase in the availability of foreign currency has been supported by the performance of Venezuela’s oil basket, whose average value came in at around US$90 per barrel, compared with the US$60 average in the previous fiscal exercise.

The exchange-rate gap as a driver of inflation

Despite greater foreign-currency liquidity, the distance between the official exchange rate and quotations in the parallel market is directly reflected in the cost structure of goods and services. This distortion prevents the higher flow of dollars from stabilizing price formation.

Pérez explained that the traditional monetary-policy tools adopted by the issuing authority (such as setting deposit interest rates at 46%) lack effectiveness in discouraging consumption or encouraging saving in bolívars when year-on-year inflation exceeds 500%.

In this scenario, the economist stressed that the massive injection of resources and the estimates for growth of Gross Domestic Product (GDP), projected between 6% and 10% for year-end, do not translate into a recovery of purchasing power or into stability for workers’ wages.

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