CARACAS, Dec 15 (Reuters) - Venezuelan central bank gold holdings declined in value by 24 percent between January and October, according to a central bank statement released this week.
The value of the country’s monetary gold decreased to 69.9 billion bolivars in October from 91.4 billion bolivars in January, according to the statement.
That implies a decline of $3.4 billion, based on the strongest official exchange rate of 6.3 bolivars per dollar, which the central bank uses to value these holdings.
The central bank did not immediately respond to an email seeking comment.
Reuters reported in March that the Central Bank was in talks with Wall Street banks for $1.5 billion gold swap operation, a transaction that the bank did not confirm at the time.
Gold prices have fallen 10 percent this year. Venezuela holds most of its reserves in gold.
The country has made three withdrawals this year from an International Monetary Fund (IMF) holding to boost access to hard currency. (Reporting by Corina Pons; Writing by Brian Ellsworth; Editing by Girish Gupta and Steve Orlofsky)