This Monday, November 21, the dollar price American is quoted at 9.97870000 Venezuelan bolivarsHowever, in the parallel market it has a value of 11.90 bolivars according to the portal Dollar today.
The Central bank of Venezuela (BCV) is the main economic authority of the South American country and is the only one authorized to issue legal tender and control the exchange rate of the Venezuelan currency.
However, the “DolarToday” corresponds to the average value of private operations in the city of Cáracas, Venezuela and thus, while the dollar is quoted at Bs 11.90, the euro does so at 11.42 bolivars.
For its part, the dollar monitor portal establishes the average exchange rate for this Monday, November 21, at 11.82 bolivars.
Price of the dollar in Venezuela in real time
Inflation and devaluation in Venezuela
In 2018, the sovereign bolivar came to replace the strong bolivar, which meant a 96% devaluation of the official currency of Venezuela in relation to the dollar, as announced by the BCV at the time.
As we have mentioned in The Truth Newsthe deep economic crisis that the country is experiencing has led to unstoppable inflation that, according to estimates by the International Monetary Fund (IMF), increased to 10,000,000% at the end of 2019.
For its part, the same Central Bank of Venezuela revealed in 2019 a contraction of the economy of 47.6% since 2013, and inflation of 130,060% at the end of 2018.