Central Bank of Venezuela (BCV) coordinates strategies with national banks to control inflation and stabilize the exchange rate
The Central Bank of Venezuela held a meeting with representatives of public and private banks to outline strategies to address key issues such as inflation, exchange rate stabilization, and monitoring monetary liquidity
During a meeting between the Central Bank of Venezuela and representatives of public and private banks, key issues for the country’s economy were discussed, including monitoring monetary liquidity, inflation, and exchange rate control.
This high-level meeting also included the participation of the Sectoral Vice Presidency for the Economy, the Superintendency of Banking Sectors (Sudeban), and the Vice Ministry of Digital Economy, Banking, Insurance, and Securities.
Local media reported that this meeting “comes days after the Central Bank of Venezuela (BCV) reported that June inflation reached 13.8 %, reversing the downward trend of May (6.3 %) and raising the accumulated inflation rate for 2016 to 129.8 %.”
Improving the efficiency of the foreign exchange desks was also a topic discussed at the meeting, amidst a BCV strategy to move towards the nation’s economic normalization, with the aim of reducing exchange rate distortions and contributing to price stability.
M.Pino
Source: alnavio
(Reference image source: file)
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