Thursday , May 26 2022

It’s only Monday and the collateral dollar is already “smelling” the million


The unofficial market climbs to Bs 967,349, 16 per dollar and the bolivar is evaporating more and more every day as a financial signal, enchanting a “wild” dollar that opens an ever-widening social gap between the those who have access to US currency and those who do not.

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The collateral dollar uphill race, as expected, continues this Monday, November 23. According to @EnParaleloVzla’s Instagram account, the unofficial exchange rate exceeded Bs 900 thousand to climb to Bs. 967,349, 16 per dollar, a cruel acceleration of Bs 855,871.44 when it closed last week, Friday, November 20.

The rise takes place in the midst of banking on Monday, which means the official market, “under supervision” by the Venezuela Central Bank (BCV) will remain until tomorrow, Tuesday, November 24, at 782,025.16.

There is little to be said about the behavior of the collateral dollar at the end of the year except that the bolivar is increasingly evaporating as a monetary signal and enchanting a “vicious” loophole that opens a growing social gap between those who have access to US currency. and who doesn’t.

At this rate, PDVSA’s projections of an exchange rate of 1,235,920 volivars per dollar toward January 2021 could be developed for this year, considering that the December sprint is still missing.

In October, PANORAMA gained access to the Petróleos de Venezuela 2021 Budget Formulation Guide (PDVSA) building which, in exchange issues, is considering a 202.5% devaluation over the next year, projecting that in December 2021 the exchange rate will be Bs 3,737,999.

Market behavior surpassed the rating agency Focus Economics’ last projection, which calculated that inflation will close 2020 at 2,487%, while the exchange rate will close at Bs 900,920 per dollar.

Focus Economics predicted the exchange rate will close at Bs 6,694,741 per dollar in 2021, PDVSA’s estimate almost double.

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