17 July 2019 10:25
Updated July 17, 2019 12:47
The parallel price of the dollar broke the barrier of 9000 bolivars this Tuesday and brought a significant advantage at the rate set by the official exchange rate given by the Central Bank of Venezuela.
At the end of the day Tuesday, the rate was 9.275 boliwarów against the dollar, while the trading table system closed the day at 7.245 boliwarów to the dollar, over 2000 points below the parallel exchange rate.
– Central Bank of Venezuela (@BCV_ORG_VE) July 16, 2019
Financial sources pointed out to Banca y Negocios that this is a point increase due to payments made to suppliers by public administration, which is an injection of liquidity in the system to the informal currency market.
It is estimated that in the coming days a downward correction may take place, as the effect of this punctual increase in liquidity will be discounted.
"The level of currency overvaluation is high, nonsense in the environment of aggressive external restrictions. Despite the increase in recent days, the "dollar" is still cheap "- said economist Asdrúbal Oliveros, director of the consulting department of Ecoanalitica in his Twitter account.
The parallel exchange rate is growing. On this occasion I see the correction. The level of currency overvaluation is high, nonsense in the environment of aggressive external restrictions. Despite the increase in recent days, the "dollar" is still cheap.
– Asdrubal R. Oliveros (@aroliveros) July 16, 2019