BCV reduces exchange intervention in October: it injected 52 million dollars into the banks

The Central Bank of Venezuela (BCV) injected this first week of October a total of 52 million dollars into the banks, a reduction of more than 50% in exchange intervention compared to the previous week, when it placed 110 million.

The exchange rate established for this exchange intervention was 36.41 bolivars per euro, equivalent to a parity of 34.43 bolivars per dollar, which is the reference exchange rate for transactions on Monday, October 2.

In September, the intervention price rose 3.88%, while in August it increased 7.09%, so this first placement of currencies in October may provide room for an acceleration of the exchange rate in the official market, according to the portal Banking and Business.

At the end of last month, the amount of the exchange intervention was 329 million dollars, the same amount placed during July, and 3.52% lower than the amount sold in August.

So far this year, the BCV has sold 2,907 million dollars to banks, 11.91% lower than the 3,300 million it had placed on the same date last year.

It is expected that the monetary authority will let the exchange rate slide a little more in the coming weeks, in order to contain the price of the dollar during the last quarter of the year.