Venezuela cen bank cuts discount rate to 39 pct

Venezuela's Central Bank on Tuesday lowered its discount rate for local banks seeking to borrow money to meet reserve requirements from 42 percent to 39 percent.

The move came after the government introduced a fixed exchange rate, tight currency controls and price curbs to shore up international reserves and the country's bolivar currency.

The government put the controls in place in early February after a two-month opposition strike battered its economy and disrupted the oil exports that accoun

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