Money in Venezuela

Venezuela Money | Economic News & Forecasts

Venezuela - Money

The economic panorama remained bleak as the coronavirus pandemic and dwindling oil production hammered domestic activity in the first half of the year and into Q3. Oil production in July remained close to the lowest level in nearly 80 years amid U.S. sanctions against PDVSA, the state oil company. Moreover, the last working oil rig was closed down in August as production in the Orinoco belt and the Maracaibo basin dried up. Furthermore, gasoline shortages led to rationing of supplies due to multiple shutdowns at PDVSA’s Paraguaná refining center in early September. In the political scene, upcoming elections are resulting in a fracturing of opposition parties—to the benefit of incumbent President Maduro—as opposition leaders disagree over whether to contest December’s congressional elections or abstain from a vote they consider fraudulent and rigged.

Venezuela - Money Data

2015   2016   2017   2018   2019  
Money (annual variation in %)101  159  1,121  63,257  4,946  

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Venezuela Money Chart

Venezuela Money
Note: Annual variation of M2 in %.
Source: Venezuela Central Bank and FocusEconomics calculations.

Venezuela Facts

Value Change Date
Bond Yield5.500.0 %Aug 19
Exchange Rate248,8320.0 %Aug 17

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