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The price of currencies such as the US dollar and the euro rose on Friday in the new floating exchange rate system market after its last known bid, according to data provided by the Central Bank of Venezuela. The issuing institute reported the result of the auction number 22, in which one euro is exchanged for 140,064 bolivars.
The price of the dollar remained at 120,000 bolivars, as in the previous auction, representing an increase of 379% over the rate of the first offer, made in February, which placed the dollar at 25,054 bolivars
BCV awarded $ 582,631.13, of which $ 514,967.06 was granted to 28 companies and $ 67,664.07 to 299 individuals. The issuer institute reported that the settlement date is tomorrow.
The total allocated represents a 54% decrease from the twenty-first offer, which was $ 1,276,807.94. The number of legal entities to which they have been allocated has also decreased. At auction number 21, BCV granted foreign currency to 69 companies. The minimum position of the application and the offer was 50 euros for the natural person and 1000 euros for the legal person.
The prices of the US dollar and the euro are thousands of times higher than the rate of protected currency dollars awarded at the price of 10 bolivars per unit. The rate was repealed in January, with the Exchange Agreement No. 39, to make room for the Dicom, the exchange rate now unique in the country, governed by an exchange control that operates since 2003 and which grants the monopoly of currencies to the state, reported Efe.
The government reactivated the auction system at the end of January, after being suspended in September 2017. At the time, it recorded a rate of 3,345 bolivars per dollar and 4,142 euros per year. euro. Venezuela, which is experiencing a severe shortage of foreign currencies, closed last year with an inflation of 2.616%, and since October 2017, it is in a scenario of hyperinflation, reported the United States. Press Agency.
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