The BCV's foreign currency injection is putting pressure on the USDT parallel market

WalletsWatcher · 2026-02-14T14:03:20+00:00

The Central Bank of Venezuela implements a historic intervention in the parallel foreign exchange market, increasing the supply of dollars to reduce the gap between the official and parallel exchange rates. This causes a drop in USDT and alters the speculation dynamics in the market. The sustainability of this strategy in the long term is questioned.

WalletsWatcher

2026-02-14 14:03:20

Abstract generation in progress

The Central Bank of Venezuela (BCV) is implementing an unprecedented intervention strategy in the black market for foreign exchange, injecting a record volume of USD into commercial banks. The immediate result is reflected in the USDT P2P price, which has experienced a significant drop from 630 to 505 VES in recent days. This move responds to the explicit goal of the monetary authority: to force convergence toward the official rate and reduce speculation in unregulated markets.

The main objective: closing the gap in the parallel market

The BCV’s strategy aims to eliminate the long-standing divergence between the official exchange rate and the prices in the parallel market. By massively injecting dollars into the banking system, the monetary authority seeks to increase the supply of foreign currency through formal channels, reducing demand for USDT and other cryptocurrencies on P2P platforms. This approach intends to curb the speculation that has characterized the Venezuelan parallel market for years.

Immediate effects on P2P and price volatility

USDT is “feeling” downward pressure and is seeking to realign closer to the official rate. The gap that separated the two prices is gradually closing, altering the traditional dynamics of the parallel market. Cryptocurrency investors observe how the spread narrows, directly impacting arbitrage and speculation strategies that previously generated profits during periods of greater divergence.

Outlook: how long will this pressure last?

In the short term, the bolívar (VES) and physical currencies become more competitive against USDT in the parallel market. The P2P market is forced to adjust its prices. The key question is whether the BCV can sustain this injection of foreign currency, and whether the parallel market will reactivate once the current pressure diminishes. Analysts warn that this strategy requires ongoing efforts to produce lasting effects in the foreign exchange black market.

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