Rates tumble in Venezuela

Overnight lending rates in Venezuela fell sharply last Thursday, after the country's central bank resumed injecting cash into the financial system, a week after it had suspended the practice.

The overnight rate fell to an average of 6% after shooting up to around 120% last week.

The central bank stated on Wednesday that its directors had decided to resume accepting government bonds from commercial banks in exchange for cash. After it had ceased doing so, rates jumped up when some private banks

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