Labs · Experimental
An experimental daily 0–100 composite of exchange-rate dislocation, execution friction, and instability.
The collector and guarded backfill are active, but the frozen history threshold is not yet satisfied. FX-TGI is not part of Core VCI and remains null whenever one required dimension is missing or lacks sufficient real history.
207
synchronized daily closes
177
complete 30-day dimension readings
0
admissible index observations
3 more complete readings complete the baseline; the first score needs 4 more complete days after the current source close of 2026-08-11.
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 prior 365 real daily observations, with at least 180 required. The four percentiles receive equal weight and scale to 0–100; higher means more stress. A score of 50 means the middle of recent history, not normality or a policy target. Raw components and timestamps must remain visible beside any future 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.