FX.co ★ Venezuela reopens dollar sales after US oil shock

Venezuela is preparing to resume dollar sales, a move that could help stabilize the bolivar after disruptions caused by a US oil blockade.

Banks in Caracas began contacting corporate clients this week to offer the first significant government dollar allocation since mid‑December. According to available reports, banks are now collecting orders to buy the currency, but as of Thursday, the funds had not yet been disbursed.

The exact volume of dollars to be offered remains unknown, as does the source of the foreign‑exchange funding. The resumption of sales follows a recent decision by the Donald Trump administration to permit two major global commodity traders to resume sales of Venezuelan oil.

On Friday, the bolivar stabilized on the parallel market below 500 to the US dollar, according to quotations on cryptocurrency trading platforms. The currency had shown sharp volatility earlier after US forces began blocking oil exports, which cut dollar inflows and hit the government’s main source of foreign exchange.

The situation worsened after the detention of Nicolas Maduro. At one point, the bolivar weakened by more than 20%, reaching roughly 800 to the dollar, raising fears of a potential currency crisis.