Venezuela’s Central Bank (BCV) has set the official exchange rate for the U.S. dollar at 748.78 bolivars, according to the latest figure published on Sunday, August 2.
The BCV has indicated that the dollar price it provides is calculated as a weighted average of other financial exchange rates, with the aim of achieving a more precise equivalence with the bolivar market.
The official rate is used to facilitate the flow of the economy and enable transactions between currencies of different countries, in this case the United States and Venezuela. Payments covered by the rate range from basic household goods to other services.
