The parallel dollar in Venezuela declines following the BCV's intervention

FreeRider · 2026-02-12T14:02:24+00:00

The Venezuelan cryptocurrency market is witnessing significant shifts following measures by the Central Bank, with a notable drop in the P2P USDT price reflecting monetary policy impacts. The central bank's strategy aims to strengthen foreign currency supply and reduce speculation, promoting convergence with official rates and enhancing the bolívar's role as market dynamics evolve.

FreeRider

2026-02-12 14:02:24

Abstract generation in progress

The cryptocurrency market in Venezuela is experiencing significant movements following measures implemented by the Central Bank of Venezuela. The parallel dollar and its exchange rate dynamics reflect the effects of monetary policies on the local economy. This time, USDT P2P shows a substantial decline, indicating changes in the supply of foreign currency.

Significant Drop of USDT in the P2P Market

The price of USDT in P2P transactions has contracted notably, dropping from close to 630 VES to around 505 VES. This reduction represents approximately a 20% decrease in the value of the parallel dollar on platforms facilitating direct user-to-user transactions. The movement reflects market pressures aiming to recalibrate the valuation of digital assets against the local currency.

Central Bank’s Currency Injection Strategy

The Central Bank of Venezuela has implemented a record-high dollar supply strategy to the banking system, marking a milestone in its liquidity operations. This measure seeks to strengthen the availability of foreign currency through formal and institutional channels. The declared goal includes promoting convergence toward official rates and reducing speculation in parallel markets. The currency injection serves as a tool to exert control over informal markets.

Convergence Toward the Official Rate and Bolivar Strengthening

With the decline in the parallel USDT quotes, the gap between the parallel dollar and the official rate is gradually narrowing. The bolivar (VES) and physical currencies are gaining prominence amid these market dynamics. The P2P market is adjusting to the new supply conditions, reflecting a reconfiguration of participant expectations.

The sustainability of this central bank strategy will depend on maintaining a consistent flow of foreign currency into the banking sector and on the behavior of economic agents in the coming periods. The parallel dollar in Venezuela continues to be a key indicator of the balance between supply and demand for foreign currency in the economy.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.