Venezuela exchange rates: USDT exceeds 960 bolívares on Binance

The exchange rate for USDT (Tether) on the Binance P2P market in Venezuela has surpassed 960 bolívares among several sellers, with an average rate of approximately 955 bolívares. This upward trend reflects growing demand for foreign currency that the formal financial system is struggling to meet. USDT serves as a primary reference for savings, remittances, and daily commercial transactions in the country.

Meanwhile, the Central Bank of Venezuela (BCV) set the official exchange rate at 791.32 bolívares per US dollar for August 27, marking a 0.48% increase from the previous close. This official rate, which is the only legal reference for commercial transactions and pricing in Venezuela, leaves a gap of approximately 22% compared to the USDT P2P market price. The BCV also reported the Euro at 921.81 bolívares.