Tag: Central Bank of Venezuela

• Friday, April 8th 2022 - 09:19 UTC

  Venezuela's monthly inflation stays within one-digit figures

  

  Venezuela's economic authorities have reported one-digit monthly inflation once again for a country that had grown accustomed to astronomic figures. However, independent observers consider this data to be absurd.

• Monday, January 10th 2022 - 21:36 UTC

  Venezuela's inflation for the year 2021 reaches “only” 686.4%

  

  Venezuela's Central Bank (BCV) has confirmed December's 7.6% marked the 12th consecutive month with inflation below 50% for an yearly total of 686.4%, it was announced.

• Monday, December 20th 2021 - 22:20 UTC

  UK Supreme Court rules Guaidó is Venezuela's president, but the case is not over

  

  The Supreme Court of the United Kingdom Monday maintained opposition leader Juan Guaidó should be recognized as the truthful President of Venezuela, which would grant him access to his country's gold in custody at the Bank of England. But instead of making a decision on that issue, the case was sent back to a lower court for further judicial proceedings.

• Friday, August 6th 2021 - 07:52 UTC

  In thirteen years Venezuela has eliminated 14 zeroes from the Bolivar currency

  

  Because of the hyperinflation process, as of next October the Venezuelan currency, Bolivar, will lose six zeroes, the central bank announced on Thursday, This is the third time in thirteen years that monetary officials in the country appeal to eliminating ciphers.

• Thursday, March 21st 2019 - 09:45 UTC

  Citigroup plans to sell US$ 1.6bn of Venezuelan gold held on collateral

  

  Citigroup Inc plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a US$ 1.6 billion loan after the deadline for repurchasing them expired this month, sources said Reuters, a setback for President Nicolas Maduro’s efforts to hold onto the country’s fast-shrinking reserves.

• Tuesday, November 20th 2018 - 08:43 UTC

  Venezuela preparing macroeconomic data to deliver to IMF

  

  Venezuela which is sitting on one of the world’s largest crude oil reserves but which is suffering the worst loss of oil production in history outside of war-induced outages is getting ready to share macroeconomic data with the International Monetary Fund to avoid penalties including possible exclusion from the IMF.

• Monday, January 25th 2016 - 10:01 UTC

  IMF estimates 2016 Venezuela inflation at 720% and 8% economy contraction

  

  Venezuela’s consumer inflation, already the world’s highest, will more than double this year surging to 720% in 2016 from 275% last year, according to a note published by the IMF’s Western Hemisphere Director, Alejandro Werner.

• Tuesday, January 19th 2016 - 06:47 UTC

  Bank of America anticipates strong devaluation for bankrupt Venezuela

  

  Bank of America predicted president Nicolas Maduro would merge Venezuela’s three-tier currency controls into two, replacing the strongest rate of 6.3 bolivars to the dollar with a level of 35. Greenbacks go for around 865 bolivars on the black market.

• Friday, October 30th 2015 - 07:35 UTC

  Venezuela central bank gold holdings drop 19% in four months

  

  Venezuela central bank gold holdings declined in value by 19% between January and May, according to its financial statements, likely reflecting gold swap operations and lower bullion prices. The country has been struggling with stagflation due to low oil prices and a collapsing state-led economic model, holds a considerable portion of its monetary reserves in gold.

• Tuesday, February 10th 2015 - 23:58 UTC

  Venezuela announces yet another concealed devaluation, effective Wednesday

  

  Venezuela's vice president for economic policy announced Tuesday that the government will inaugurate this week a three-tiered exchange-rate regime which includes a “totally free” market open to both individuals and companies.