Attention, crypto community in Venezuela! 📢
Breaking news is causing significant movements in the local financial landscape. The apprehension of Carlos Andrés Pérez Abreu, identified as the alleged manager of the popular Instagram account "Monitor Dólar", has been confirmed. This action has left the platform inoperable, eliminating a key reference for the market. 📉🚫
The Reality of the Dollar in Venezuela: Beyond the Official Rate 📊
To understand the impact, it is crucial to remember how the currency market works in Venezuela. Mainly two rates coexist:
* The Official Rate of the Central Bank of Venezuela (BCV): This is the rate set by the authorities and by which, according to the law, transactions within the national territory should be governed. 🏦📜
* The Parallel Dollar Rate: Historically, this rate has emerged in the informal market to reflect the actual supply and demand for foreign currency, serving as a reference for acquiring dollars in cash or digitally. 💸🤝
The reality is that, despite regulations, to acquire dollars in everyday life, the parallel reference was essential. This created a notable differential, which often fluctuated between 30% and 40% (or even more) above the official rate. While laws required transactions at the BCV rate, the need to obtain foreign currency led to operating with the informal reference. 🔄🤷♂️
Goodbye to "Monitor Dólar": Uncertainty in P2P 📉❓
"Monitor Dólar" had established itself as the main source for that parallel rate, crucial for P2P users on Binance and other platforms when trading with USDT or USDC. With its absence, there is great uncertainty about what the new reference point for these transactions will be. P2P markets rely on clear references, and the removal of such a centralized one will leave a significant void.
This situation presents new challenges. Although authorities seek to control the price of the currency, the dynamics of the Venezuelan exchange market are driven by deep macroeconomic factors. It is likely that, in the short term, greater volatility and difficulty in establishing prices will be experienced, and in the medium term, new informal references may emerge. Given the situation, it is possible that these new references will be even harder to follow or more "rigorous" in their determination, seeking to avoid oversight. 🕵️♂️🔒
What to do now? 🤔💡
The P2P trading community in Venezuela must be more vigilant than ever. It is crucial to stay informed through various sources, operate with caution and patience, and adapt to changes in how currency prices will be established in the local market. 📚 vigilantly 🧐
🇻🇪📈📉
