Venezuela central bank cuts rate to 36 pct

Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.

Source: Reuters

Venezuela's Central Bank has lowered its discount rate for local banks seeking to borrow money to meet reserve requirements from 39 percent to 36 percent, the Bank said Monday.

The discount rate cut was effective April 10. The Central Bank on Feb. 11 had lowered the rate to 39 percent from 42 percent.

The latest reduction came as leftist

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