Venezuelan Dollar Soars Past 230 Bolívares as Currency Crisis Deepens
The Central Bank of Venezuela announced a new official exchange rate, with the Dollar surpassing 230 Venezuelan bolívar, signaling intensified currency instability.
- As of November 10, the Central Bank of Venezuela set the official exchange rate at 231.04 Venezuelan bolívar per Dollar, marking a new economic low.
- This adjustment reflects a rapid depreciation of the Venezuelan bolívar, raising concerns about inflation and the purchasing power of citizens amid ongoing economic turmoil.
- The soaring Dollar rate exacerbates challenges for Venezuelans, who increasingly rely on the United States dollar for transactions amid a weakened national currency.
Por Qué Es Relevante
The surge in the Dollar against the Venezuelan bolívar underscores the deepening currency crisis in Venezuela, highlighting severe economic instability and the potential for further inflationary pressures on an already struggling population.