Labs · Experimental
An experimental daily 0–100 composite of exchange-rate dislocation, execution friction, and instability.
Latest Labs observation · 2026-08-19
47.1
of 100
Higher means more FX-system stress relative to the previous real observations. This experimental score does not enter Core VCI.
215
synchronized daily closes
185
complete 30-day dimension readings
184
admissible index observations
Latest percentile comparison sample: 184 real prior readings, capped at 365. There is no minimum-history admission threshold; the sample depth remains visible because early percentiles are less stable.
Official-market dislocation
raw 17.10
p21
Cross-venue dispersion
raw 0.99
p99
Trading friction
raw 0.05
p21
Instability
raw 15.17
p47
FX-TGI measures stress and fragmentation in Venezuela's exchange-rate system—not the raw bolívar level. Its closest analytical peer is an Exchange Market Pressure Index. Broad Dollar Index and DXY are familiar composite-branding analogues, but they measure the dollar against currency baskets rather than local market dislocation.
Official-market dislocation
The absolute official-versus-parallel premium.
Cross-venue dispersion
Synchronized disagreement among independent P2P venues.
Trading friction
The representative executable P2P buy/sell spread.
Instability
Robust 30-day volatility of daily parallel-rate returns.
Each dimension becomes its empirical percentile against the available prior real daily observations, capped at 365. A non-empty prior sample is the only mathematical requirement; its size is disclosed beside the score. The four percentiles receive equal weight and scale to 0–100; higher means more stress. A score of 50 means the middle of its available comparison history, not normality or a policy target. Raw components and timestamps remain visible beside every score.
Raw FX levels are excluded. Depreciation and volatility are not both included in v1, preventing the same exchange-rate move from receiving multiple weights.