Does there exist a VEF/USD (Venezuelan bolivar) spot or derivative market on any public exchange?
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Of possible interest: Why are there two exchange rates for Venezuela's currency? and Why do people buy US dollars on the black market?.– TripeHoundMar 26, 2021 at 20:23
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1 Answer
No, because the VEF is officially pegged to the USD at the rate of 6.35:1, so there is no official need for price discovery (which is the purpose of a market).
However, the official rate is not the black market rate, and the reason there's a black market is precisely because there's no regular market.
