Daily News > News
Vote




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

 Ranking
  •  Read 
  •  Sent 
  •  Voted