Venezuela: Euro exceeds 1,000 bolívares as official dollar nears 900

The Central Bank of Venezuela (BCV) set the official exchange rate for the US dollar at 894.88 bolívares for November 5, 2026. Notably, the euro surpassed the 1,000 bolívar threshold for the first time, reaching 1,006.03 bolívares.

This currency movement follows a significant depreciation of the bolívar. Since late 2025, the official dollar rate has risen from approximately 301.37 bolívares, representing an increase of nearly 197 percent over ten months. This trend reflects a loss of value for the bolívar exceeding 66 percent against the US dollar.

Despite the exchange rate climb, the BCV reported that October inflation stood at 6.2 percent, the lowest monthly figure in 24 months. The central bank attributed this to public account balancing and increased tax collection. However, economists warn that the impact on the cost of living remains high for households.