[REVISION HISTORY]

Venezuela: Earthquake aftermath, inflation, and currency

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2026-11-06 02:03 UTC → 2026-11-09 22:04 UTC · added ~~removed~~

Economic and humanitarian instability in Venezuela has intensified following the twin earthquakes of June 24. Two months after the seismic events, which measured magnitudes of 7.2 and 7.5, the country continues to manage a crisis involving 6,300 deaths, 16,740 injuries, and at least 1,300 missing persons. Approximately 300,000 individuals have been displaced, with the Chamber of Construction in Monagas estimating a national housing deficit of approximately 2.7 million units. Humanitarian efforts have expanded to include psychosocial support. Organizations like Prepara Familia, supported by South Korea’s Good Neighbors, are providing mental health care and temporary shelter for children in areas like La Guaira and El Junquito. However, human rights defender Rafael Uzcátegui has criticized the management of emergency shelters, warning they risk becoming permanent “deposits of people” due to overcrowding and militarization. NGO Provea has also criticized the interim government of Delcy Rodríguez for a lack of transparency, noting a failure to update official figures for the deceased and missing, with the last reported death toll standing at 6,509. Inflationary pressures and currency depreciation persist. By early November 2026, the Central Bank of Venezuela (BCV) set the official US dollar rate at 894.88 bolívares, while the euro surpassed the 1,000 bolívar threshold for the first time, reaching 1,006.03 bolívares. By November 9, the BCV rate fluctuated between approximately 897.53 and 899.27 bolívares per US dollar. This follows a significant depreciation trend where the official dollar rate rose nearly 197 percent from late 2025. Although the BCV reported October inflation at 6.2 percent, the lowest monthly figure in 24 months, economists warn the cost of living remains high. ~~As of mid-October, economist Steve Hanke estimated annual inflation at 248.3 percent. Meanwhile, the Caracas Stock Exchange~~ The government has ~~seen annual returns exceeding 375 percent, outperforming reported inflation rates and offering potential for corporate financing and savings protection, according~~ reportedly increased oversight to ~~Juan Domingo Cordero~~ ensure businesses use the official BCV rate for pricing, following complaints regarding the use of ~~CANIMEV.~~ unofficial rates or alternative currencies.

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