Exchange rates for the US dollar in the Bolivarian Republic of Venezuela / USD 1 = VES ... (selling)

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Time series key	BBEX3.A.VES.USD.CA.AB.A04
Unit	VES
Dimension	one
Timespan	from 2018 to 2023
Last update	12.01.2024 02:14:32 PM

General	With effect from 20 August 2018, a currency changeover took place at the ratio of 100,000 bolívar (VEF) = 1 bolívar soberano (VES). Exchange rates until 2017, see BBEX3:A:VEF:USD:CA:AB:B11. With effect from 1 October 2021, another currency changeover took place at the ratio of 1,000,000 (old) bolívar (VES) = 1 (new) bolívar (VES). In addition, on 1 October a new ISO currency code - VED - was introduced alongside the existing VES code. This code is only for internal purposes, however, and is not intended to replace VES as the official currency code. It is understood that there is a considerably different, black market rate alongside the official, published exchange rate.
Methodology	Calculated on the basis of month-end rates; to calculate the annual average for 2021, the exchange rates set in (old) bolívar were converted at a rate of 1,000,000:1 and included in the calculation.
Source	Banco Central de Venezuela, Caracas

Comment on 2021	With effect from 1 October 2021, a currency changeover took place at the ratio of 1,000,000 (old) bolÃvar (VES) = 1 (new) bolÃvar (VES).
Comment on 2019	The exchange rates were adjusted multipe times, see BBEX3:M:VES:USD:CA:AB:A01.
Comment on 2018	Calculation not meaningful due to multiple episodes of sharp depreciation, see BBEX3:M:VEF:USD:CA:AB:B09 and BBEX3:M:VES:USD:CA:AB:A01.

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