EL UNIVERSAL
CARACAS, Thursday December 04, 2008 | Update
International reserves down 4.3 percent in five weeks
Total reserves stood at USD 38.7 billion as of December 3rd, versus USD 40.4 billion on October 30th
Economy
Venezuela's international reserves fell 4.3 percent, that
is, USD 1.75 billion, during the past five weeks, accompanied
by a severe drop of the country's oil revenues, amidst exchange
control.
Total reserves stood at USD 38.7 billion as of December 3rd,
versus USD 40.4 billion on October 30th, when they hit their
highest historical value, according to the numbers provided
by the Central Bank of Venezuela (BCV).
The amount includes USD 828 million of a petroleum contingency
fund that has remained unchanged since the end of October
at USD 828 million, Reuters reported.
Venezuelan oil has plunged almost USD 90 from more than USD
126 / barrel in July, to USD 39.59 last week. The annual average
price is USD 92.76.
In addition, the reserves probably reflect buying back of
the foreign debt gradually made by the Venezuelan government
some weeks ago for about USD 800 million.
On the Cover
Worsening chronic poverty in Venezuelan households
11:00 AM. Economy. Based on the official data, more and more families failed to get out of poverty in 2008; the exclusion status of more people moved faster and fewer people are on their way to overcome this situation. According to the data provided by the official National Statistics Institute (INE), last year the poorest homes in the country recorded an average monthly income of USD 401.82, whereas the food basket amounted to 417.77
- Read
- Sent
- Voted
Alianzas
EL UNIVERSAL
Cómo anunciar | Suscripciones | Contáctenos | Política de privacidad
Términos legales | Condiciones de uso | Mapa del Sitio | Ayuda
El Universal - Todos los derechos reservados 2007
