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Venezuela

BCV liquid reserves decrease to historic low

29-Nov-2012

 

On 23 November 2012, according to Central Bank (BCV) official data, liquid reserves amounted to US$2.2 billion in the last nine months, 60 percent below the figure recorded in early January 2012 and 93 percent below that in 2008. BCV relies on liquid reserves for distribution among companies authorized by the Foreign Exchange Administration Commission (Cadivi) to import. By the third quarter of this year, private sector companies suffered a 4.9 percent cut in the U.S. dollar supply marked for imports.

 

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