Circulation of US dollars is increasing in Venezuela

The circulation of US dollars in Venezuela has surged in recent months, with more dollars entering the economy in the past two months than during all of 2025, according to a senior US official.

Caleb Orr, Assistant Secretary of State for Economic, Energy, and Business Affairs, said at the CERAWeek conference in Houston that the increase reflects a broader effort by the United States to reset relations and support Venezuela’s economic recovery.

“We’re really resetting the relationship and helping recover the country, to recover its economy and using US investment to do that,” Orr said. Much of the inflow is tied to renewed oil exports following a landmark agreement between Caracas and Washington earlier this year.

The shift comes after a dramatic turning point in Venezuela’s political landscape, when US forces captured President Nicolás Maduro during a military operation in January, an action condemned by Venezuelan officials as a “kidnapping” and a violation of sovereignty.

Following his removal, Washington signalled a more direct role in shaping Venezuela’s economic and energy policies, including efforts to expand oil production, attract foreign investment, and stabilise global energy markets.

Under the new political arrangement, US involvement has intensified, with energy partnerships and financial flows, particularly in dollars, playing a central role in rebuilding Venezuela’s struggling economy after years of crisis.

The increased dollar circulation also reflects a deepening informal dollarisation trend, as Venezuelans and businesses turn to the US currency for stability amid lingering economic uncertainty.