US-dollar starts to rise again in Venezuela

Baku. 1 August. REPORT.AZ/ The US-dollar rate on the Venezuelan "black market" has increased by 8% and exceeded 11,000 bolivars.

Report informs citing the Russian media, though on July 28, $ 1 was equal to 10,400 bolivars, but after Sunday elections, the price went up a little bit more.

The reason for this is the disagreement between the authorities and the opposition during the elections. Thus, opposition did not accept the results of the parliamentary elections initiated by President Nicolas Maduro and the authorities were required to hold a referendum. Conflicts have resulted in human casualties, and the US government has threatened to impose sanctions on Venezuela. All of this has diminished the country's national currency.

Notably, the official dollar rate in Venezuela is 9,985 bolivars. In other words, the selling price of the American currency is 1,100 times more than the official exchange rate.