The Central Bank will begin the operations of raising dollars through electronic deposits in the coming days.
This service will be available in installments between 30 and 1,800 days (five years), for financial intermediaries supervised by the General Superintendency of Financial Institutions.
This will be an option for financial intermediaries to place their assets in dollars in the country, rather than abroad.
This would allow the Central Bank to strengthen its international reserves and, with this, improve the country’s financial armor.
According to the Bank, this is consistent with the entity’s Organic Law, which establishes as its main objective
to maintain the internal and external stability of the national currency and ensure its conversion into other currencies.”