Venezuela Central Bank mandates interest on all Bolívar deposits

The Central Bank of Venezuela (BCV) has implemented a new monetary policy to adjust interest rates on Bolívar-denominated deposits. Effective September 15, 2026, the measure mandates that all bank deposits, including current accounts, must be remunerated.

Under the new scheme, sight deposits will have a minimum annual interest rate of 10%. Savings account rates have increased from a minimum of 32% to 42% annually, while fixed-term deposits have risen from 36% to 46%. The BCV aims to use these rates as a strategic tool to stabilize prices and reduce the demand for foreign currency by incentivizing citizens and legal entities to maintain balances in the national currency.

Economic analysts have expressed skepticism regarding the effectiveness of this move. Some experts argue that with annual inflation rates reaching extremely high levels, these interest rate increases may be insufficient to encourage savings in Bolívares, as the currency's value continues to depreciate rapidly against hard currencies.