Digest · VCIx

FX pressure is building again, but transport and trade show selective reopening gains.

The recovery signal remains uneven. Banking indicators improved through tighter FX gap and rising deposits, while inflation re-accelerated and the bolívar weakened to fresh lows; meanwhile, flights and non-oil exports point to continued reopening, but oil volumes softened and power rationing is an immediate operating risk.

By the numbers

FX Trust Gap
13.2%
-22.0 pts vs previous
Inflation (MoM)
13.8%
+7.5 pts vs previous
International Flights (weekly)
55 flights/week
+37.5%
Oil Exports (volume)
1,100 kbd
-12.0%
Oil Production
1,070 kbd
-0.2%; 31.0% of 1997 peak
Non-Oil Exports (BCV)
USD 210m
+2.4%; new series high

Companies & capital

Banco de Venezuela
Reported 12% quarterly deposit growth, reinforcing the banking system’s nominal expansion.

What to watch

Next FX fixing / daily
Watch whether the official and parallel rates continue making new highs after today’s move to fresh lows for the bolívar.
August 2026
Monitor flight normalization at Maiquetía after temporary terminals were installed to reactivate operations.
August 2026
Track implementation of the executive’s electricity rationing plan and any effect on industrial uptime.
Next oil update / June-July data window
Chevron headlines are now mixed: a $500m Petropiar expansion deal sits against reports it could slow expansion.

FX pressure is building again, but transport and trade show selective reopening gains.

By the numbers

Companies & capital

What to watch

Worth your time