The exchange-rate gap falls to year lows due to increased supply of foreign currency
The reduction in the gap between the official dollar and the parallel market to levels close to 14% is due to a shift in the exchange-rate strategy of the Central Bank of Venezuela (BCV), combined with a significant increase in the supply of foreign currency, said economist and president of Datanálisis, Luis Vicente León.
In an interview with Venevisión, León noted that the decrease in that difference is one of the most relevant indicators for assessing exchange-rate policy, because a wide gap distorts price formation, encourages arbitrage, and makes normal market functioning difficult.
“Exchange-rate gap is the most important economic variable because it determines whether the policy adopted by monetary authorities is working or not,” he said.
#Brechacambiariavenezuela #venezuela #Macro #macroeconomy #P2P $BTC $ETH
The reduction in the gap between the official dollar and the parallel market to levels close to 14% is due to a shift in the exchange-rate strategy of the Central Bank of Venezuela (BCV), combined with a significant increase in the supply of foreign currency, said economist and president of Datanálisis, Luis Vicente León.
In an interview with Venevisión, León noted that the decrease in that difference is one of the most relevant indicators for assessing exchange-rate policy, because a wide gap distorts price formation, encourages arbitrage, and makes normal market functioning difficult.
“Exchange-rate gap is the most important economic variable because it determines whether the policy adopted by monetary authorities is working or not,” he said.
#Brechacambiariavenezuela #venezuela #Macro #macroeconomy #P2P $BTC $ETH