Central Bank of Venezuela announces adjustment of interest rates

Starting this Tuesday, September 15, all bank deposits will be remunerated according to BCV regulations at a minimum annual interest rate. The objective is to stimulate savings in the national currency and contribute to price stability

The Central Bank of Venezuela ordered remuneration of all bank deposits starting this Tuesday, September 15. The decision applies to demand deposits, fixed-term deposits, and checking accounts.

In this regard, demand deposits will have a minimum annual interest rate of 10 %, and savings deposits will increase from 32 % to 42 % annually. Fixed-term deposit rates will increase from 36 % to 46 % annually, although each bank may offer rates higher than the minimums set by the regulatory body.

With this measure, the Central Bank of Venezuela (BCV) seeks to stimulate savings in bolivars, the national currency, as well as contribute to price stability.

M.Pino

With information from national media and social networks

(Reference image source: archive)

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