Venezuelan international reserves up USD 39.96 billion

[Judi Lynn]

CARACAS, Tuesday November 11, 2008
Venezuelan international reserves up USD 39.96 billion

Venezuela's total international reserves reported until November 7 stood at USD 39.95 billion, showing a monthly growth of 3 percent, equivalent to USD 1.16 billion. On October 7, international reserves amounted to USD 38.79 billion, according to the data released by the Central Bank of Venezuela (BCV).

Of the total reported until last Friday, USD 39.13 billion are deposited at the BCV, while USD 828 million are at the Fund for Macroeconomic Stabilization (FEM), created in 1998 with the goal of avoiding that the volatility of international oil revenues affect the required tax, monetary and exchange balance.

http://english.eluniversal.com/2008/11/11/en_eco_esp_venezuelan-internati_11A2122489.shtml
Opposition newspaper