Venezuela Floods Market With Dollars to Ease Inflation Pressure

Venezuela’s government is stepping up dollar sales and allowing the bolivar to weaken, narrowing the gap with the parallel market and easing pressure on inflation.

The bolivar has tumbled 7% this week to about 715 per euro on the so-called intervention market, which is measured against the European bloc’s currency. That is the largest depreciation in one week since the system was restored in late March, leaving the bolivar only slightly stronger than in the informal market.