US dollar rate nearly reaches 100,000 bolivars in Venezuela

Baku. 22 November. REPORT.AZ/ U.S. dollar rate in Venezuela has risen to 88,000 bolivars yesterday.

Report informs, for the past week, American currency has risen by 51% in this country.

The price increased 28 times compared with the beginning of the year. The reason for this is the last year's oil production in Venezuela at the lowest level in the last 28 years - 1,863. million barrels/day.

Notably, the official exchange rate of U.S. dollar in the Central Bank of Venezuela is 9.98 bolivars. That is, the exchange rate on the cash foreign exchange market is 8,800 times higher than the official exchange rate.

Notably, US President Donald Trump signed an order on August 26 to impose financial sanctions on Venezuela. Some time ago, Venezuela has achieved restructuring of $ 3 billion debt to Russia on the basis of mutual agreement.

The International Monetary Fund (IMF) predicts that inflation in Venezuela will hit 653% this year and 2,350% in 2018.