Venezuela's Dollar Exchange Rates Plummet: Only BCV Remains Official

Venezuela's Parallel and Average Dollar Exchange Rates Collapse: Only BCV Remains Official Caracas, Venezuela – May 31, 2025 – A recent video circulating on social media reports a dramatic collapse in Venezuela's parallel and average dollar exchange rates. The video, which uses screenshots from the popular "al cambio" currency exchange app, shows a near-zero value for both rates. This development has sparked significant discussion among Venezuelans, particularly given the country's history of economic instability. The video's creator emphasizes that only the official exchange rate set by the Banco Central de Venezuela (BCV) should be considered valid. While the video provides visual evidence of the drastic drop, independent verification of the data is necessary. The information presented, while alarming, requires further investigation to confirm its accuracy and to understand the full implications of this economic shift. The video also includes a short advertisement for Binance, raising questions about potential bias in the reporting. Nonetheless, the rapid changes in the exchange rates highlight the ongoing economic challenges faced by Venezuela. Further analysis from financial experts is needed to fully understand the causes and consequences of this sudden shift.