Venezuela’s International Reserves Reach a Thirty-Year Low
- Reserves fell $832 million to $6.63 billion in the week
- Local currency weakened 31.6% in the black market this week
Buildings are seen at dusk in the Petare neighborhood of Caracas, Venezuela.
Photographer: Adriana Loureiro Fernandez/BloombergThis article is for subscribers only.
Venezuela’s international reserves fell $832 million between Monday and Thursday, reaching a thirty-year low of $6.63 billion on Jan. 2.
The country began the week with reserves of $7.47 billion on Dec. 30, according to central bank data. The level of $6.63 billion is the lowest since July 1989, when reserves were at $6.68 billion.