UPDATE 1-Venezuela’s central bank reports increase in international reserves

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(Updates with background on the IMF)

CARACAS, Sept. 10 (Reuters) – Venezuela’s central bank on Friday released data showing its international reserves topped nearly $ 11.3 billion in five years.

The South American nation’s reserves rose $ 5.1 billion on Wednesday, according to a spreadsheet posted on the central bank’s website that tracks daily movements in reserves.

This increase was removed from the spreadsheet around noon, but reinstated in the afternoon.

The International Monetary Fund website shows that Venezuela received in August an allocation of around 3.5 billion Special Drawing Rights, the IMF’s unit of exchange backed by dollars, euros, yen, pounds sterling and yuan.

These SDRs were worth $ 5.08 billion at the SDR exchange rate on August 31.

It is not immediately clear whether Venezuela would in fact be able to use these funds. The United States and dozens of other nations in 2019 recognized opposition leader Juan Guaido as the country’s legitimate president.

The central bank and the IMF did not respond to requests for comment. (Reporting by Mayela Armas, Brian Ellsworth and Deisy Buitrago in Caracas; Additional reporting by Rodrigo Campos in New York; Editing by Daniel Wallis)


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