BCV Sets Official Exchange Rate at 484.74 Bolívares per Dollar on April 24, 2026

The official exchange rate set by Venezuela’s central bank rose to 484.74 bolívares per US dollar on April 24, marking a slight increase from the previous day and continuing a trend of gradual devaluation that has seen the currency lose more than 460% of its value against the dollar over the past year.

According to the Banco Central de Venezuela (BCV), the rate published for April 24 represented a 0.18% rise from the prior session, with the dollar trading at 484.74 bolívares and the euro at 567.40 bolívares. The central bank’s daily reference rate, derived from weighted averages of transactions conducted by participating banks’ foreign exchange desks, serves as the official benchmark for financial operations, pricing, and economic planning in the country.

The BCV’s data shows the bolívar has weakened significantly over the past 12 months, with the annual cumulative variation reaching +398.63 bolívares (+462.90%) compared to April 28, 2025. This follows a period of relative stability in early 2025, when the year-to-date change stood at +65.81 bolívares (+65.81%) as of the same date last year. The current rate places the dollar firmly above the 450 bolívares threshold that has been in effect since mid-March, according to Caracol Radio’s reporting.

Bank-specific rates revealed variation across institutions, with Banco Nacional de Crédito offering the highest purchase price at 533.89 bolívares per dollar and the highest sale price at 553.34 bolívares, while Banco Mercantil offered the lowest purchase rate at 487.45 bolívares and Banco Exterior the lowest sale rate at 543.84 bolívares on April 24. These informational rates, published alongside the official BCV figure, reflect the range at which commercial banks conduct foreign exchange transactions with clients.

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The official rate’s gradual climb comes amid broader economic pressures, including official inflation figures showing a 71.8% increase in the first three months of 2026, according to the BCV. The government has linked recent policy shifts — including the suspension of the Amnesty Law and reforms to the mining sector — to efforts aimed at attracting foreign investment beyond the traditional oil sector, though these developments were reported separately from the exchange rate data.

Despite the official rate, the bolívar’s purchasing power remains severely eroded. The minimum wage, fixed at 130 bolívares monthly since March 2022, now equates to roughly 27 US cents at the current BCV rate, down from approximately 30 dollars when the wage was last adjusted. This disparity underscores the persistent gap between nominal income and real purchasing power in an economy grappling with chronic inflation and currency devaluation.

How does the official BCV exchange rate differ from market rates in Venezuela?

The official BCV rate is a weighted average of bank transactions used for reference purposes, while actual market rates — particularly in the parallel economy — frequently diverge, often reflecting stronger dollar demand and higher bolívar depreciation than the official figure suggests.

Why has the bolívar lost so much value against the dollar over the past year?

The bolívar’s depreciation stems from prolonged inflation, reduced foreign exchange inflows, and persistent economic imbalances, with the BCV reporting over 460% annual devaluation as of April 2026, driven by structural pressures on Venezuela’s currency and fiscal systems.