Money in Venezuela
Venezuela - Money
Activity has seemingly started to show some timid signs of recovering, following years of contractions. Oil production hit an over one-year high in June, and broadly held ground in July, amid sustained demand from Asia. That said, news reports show that crude oil output shrank by roughly a quarter in the important Orinoco oil belt in August, due to a lack of dilutants. Moreover, international reserves sank to a multi-year low in August, amid sustained sales of gold reserves from the Central Bank to sustain the cash-strapped government. On a more positive note, in early September the country received a first batch of 693,000 vaccines through the Covax scheme, when only around 10% of the population has been fully vaccinated. In politics, the opposition block agreed to participate in November’s regional and local elections and reached an early agreement on social measures, notably against Covid-19.Venezuela - Money Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 101 | 159 | 1,121 | 63,257 | 4,946 |
Venezuela Money Chart
Source: Venezuela Central Bank and FocusEconomics calculations.
Venezuela Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.50 | 0.0 % | Aug 19 |
| Exchange Rate | 248,832 | 0.0 % | Aug 17 |
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Economic News
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Venezuela: Inflation falls in annual terms in May
June 16, 2021
National consumer prices rose 28.5% from the previous month in May, up from April’s 24.6% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
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Venezuela: Inflation eases slightly in April
May 18, 2021
National consumer prices rose 24.6% from the previous month in April, up from March’s 16.1% month-on-month increase, according to data released by the Central Bank of Venezuela (BCV).
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Venezuela: Inflation hits 14-month high in March
April 19, 2021
National consumer prices rose 16.1% from the previous month in March, down markedly from February’s 33.8% month-on-month increase and marking the lowest print in 12 months, according to data released by the Central Bank of Venezuela (BCV).
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Venezuela: Inflation eases from December’s 22-month high in January
February 12, 2021
National consumer prices rose 46.6% from the previous month in January, down markedly from December’s 77.5% month-on-month increase which had marked the highest print in 22 months, according to data released by the Central Bank of Venezuela (BCV).
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Venezuela: Depreciation of bolívar remains rampant in 2020; softens from levels seen in 2018 and 2019
January 1, 2021
The Venezuelan bolívar soberano fell sharply against the U.S. dollar in 2020 amid rampant inflationary pressures and tumbling oil production.
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