Bolívar Distorted: The Effects of Exchange Controls on the ...

400
3. International Reserves (# <strong>of</strong> weeks ago beginning 3/26/2004) 112
350
International Reserves
Recent
300
250
200
150
100
Week (Week 387=week <strong>of</strong> 1/3/1997, week1=week <strong>of</strong> 3/26/2004)
112 Numbers from Banco Central de Venezuela. www.bcv.org.ve
113 International Reserves do not include FIEM monies.
48
Feb 13, 2004,
Devaluation to Bs.1900/$
December 2,
2002. General
Strike begins
Week <strong>of</strong> Feb 2,
2003. <strong>Exchange</strong>
<strong>Controls</strong> enacted
50
0
0
25,000
20,000
15,000
10,000
5,000
Reserves (Millions <strong>of</strong> US$)
113