In Venezuela, price of US dollar up 479 percent in a yearCARACAS, Jan 1, 2026 (BSS/AFP) - Venezuela, currently in the throes of an escalating crisis with the United States, closed the books Wednesday on a complicated year for its economy, with the official cost of buying a US dollar up 479 percent in the last 12 months. The gap between the official and black market rate is mounting as well, nearing 100 percent in an economy that has become increasingly dollarized as a way to tackle hyperinflation. Venezuela's central bank on Wednesday set the official rate at 301.37 bolivars to the US dollar, a rate in effect until January 2. That marks a 479.25 percent increase from the rate of 52.02 bolivars to the dollar posted in early 2025. Venezuela has been under a US oil embargo since 2019 and exports the vast majority of its output on the black market at a sharp discount.

Source: Bangladesh Sangbad Sangstha January 01, 2026 02:39 UTC