Venezuela Foreign Reserves Fall to 12-Year Low as Payments Loom
- International reserves fall to lowest level since May, 2003
- Country must pay $4.5 billion on debt this month and next
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Venezuela’s international reserves fell to a 12-year low of $15.3 billion as the South American country faces payments on its dollar debt totaling $4.5 billion in October and November.
Reserves fell $614 million on Oct. 16, the central bank said Monday on its website. That’s the lowest level since May 2003 and the biggest daily decline since June 3, according to data compiled by Bloomberg.