Demand for USDT in Venezuela has dropped sharply, narrowing the gap with the central bank’s official exchange rate.
Local market data shows USDT prices have fallen by more than 40% over the past 10 days.
The spread between the parallel and official exchange rates has tightened to around 31%.
Analysts linked the move to expectations of increased foreign currency availability following new US-linked oil agreements.
Political uncertainty earlier in the year boosted dollar demand, but markets have since adjusted to a new status quo.
USDT remains a key reference for dollar demand as cryptocurrencies are widely used for salaries and daily transactions.
On peer-to-peer platforms, USDT traded below 500 bolivars for the first time since December.Analysts said the shift suggests reduced panic buying rather than a lasting improvement in economic conditions.
Rising food and service prices indicate purchasing power and inflation pressures remain unresolved.
Economists warned the easing in USDT demand could reverse without sustained capital inflows and structural reforms.