Venezuela currency depreciates 83% year-on-year amid Trump pressure

Dec 30 (Reuters) - Venezuela's bolivar currency closed at 301 bolivars to the dollar in its final trading this year, the central bank said on Tuesday.

The figure marks at 82.7% depreciation year-on-year, from a closure of 52 bolivars per dollar at the end of 2024. Analysts say depreciation is exerting upward pressure on inflation.

The government of Venezuelan President Nicolas Maduro is under increasing pressure from U.S. President Donald Trump, who this month announced a blockade of all sanctioned vessels going in or out of Venezuelan waters, after months of bombings of alleged drug boats and expansions of terrorism and sanctions designations meant to hurt Maduro economically.