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The price of the dollar in Venezuela has experienced a significant drop in the parallel market in recent days, driven by the influx of foreign currency from the oil sector, following agreements reached with the United States, according to Telemundo.
At the beginning of the year, amid the uncertainty generated by the U.S. military incursion, the dollar was trading at as much as 850 bolívars in the informal market. However, after the official announcement of oil currency flows, the parallel exchange rate has decreased to around 415 bolívars, while the official rate stands at 344 bolívars per dollar. Thus, there is a moderate expectation beginning to be felt in the streets.
The decline in the exchange rate occurs after the interim president Delcy Rodríguez announced that the revenues generated from the sale of oil to the United States will be channeled through the Central Bank of Venezuela, intended for the banking system and the foreign exchange market.
"These resources will reach the private banking sector to strengthen the exchange mechanism," Rodríguez stated, who also called for efficient management of foreign currency and for the substitution of imports.
Analysts believe that the country is undergoing an initial phase of economic opening, the main objective of which is to stabilize the currency.
Projections indicate that Venezuela could generate at least 15 billion dollars during the first half of the year, a figure that raises expectations, but also caution.
Amidst political and economic changes, Venezuelans hope that exchange rate stability will not only be reflected in the value of the dollar but will also translate into a real improvement in purchasing power and salary increases, a long-standing debt for millions of families.
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