The parallel dollar price is under pressure: BCV intervenes again in the foreign exchange markets

ImpermanentLossFan · 2026-02-12T10:08:16+00:00

Recent movements in Venezuela's parallel currency markets highlight a significant contraction in the dollar exchange rate. The Central Bank of Venezuela (BCV) has intervened by injecting record amounts of foreign currency to bridge the gap between official and parallel rates, putting pressure on the dollar's value. This strategy's sustainability relies on multiple factors, raising questions about the long-term effectiveness of the BCV's policies amid market volatility.

ImpermanentLossFan

2026-02-12 10:08:16

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In recent hours, Venezuela’s parallel currency markets have shown significant movements. The price of the black market dollar experienced a notable contraction, with USDT P2P dropping from 630 to 505 Venezuelan bolívares (VES), reflecting a more aggressive strategy by the Central Bank of Venezuela (BCV) in its attempt to control speculation and exchange rate differentials.

BCV intervention takes on new dimensions

The Central Bank announced an injection of foreign currency in historic volumes to the country’s banking institutions. This measure responds to a clear goal: to reduce the gap between the official exchange rate and the parallel markets, thereby limiting incentives for speculation with dollars and related cryptocurrencies.

The price of the parallel dollar has directly felt this pressure. The difference that previously separated both rates significantly has begun to close, albeit abruptly. While some analysts see this as a success in controlling volatility, others see it as a forced adjustment that could generate tensions in the short term.

Movements in the P2P market and their implications

The peer-to-peer crypto market, such as USDT and USDC, has undergone a significant reconfiguration. With the decline in the parallel dollar price, the profitability of P2P transactions has been compressed. Operators are evaluating whether these price levels are sustainable or if they represent a temporary correction in a highly volatile market.

Physical bolívar and formal exchange markets also show signs of reactivation, coinciding with BCV’s efforts to strengthen the official rate as the main reference point in the economy.

What to expect moving forward?

The sustainability of this strategy will depend on several factors: the amount of available foreign currency, the behavior of economic agents, and the persistence of incentives to operate in parallel markets. The price of the parallel dollar will continue to be a key thermometer of the success or failure of these monetary policy measures.

Market participants remain attentive to any changes in dynamics. The central question is not only whether this intervention achieves its immediate goal but whether it can sustain results over time, especially considering the structural complexity of the Venezuelan exchange market.

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