Pyongyang, August 25 (KCNA) --Venezuela has used its foreign currency reserve for the sake of the local people's interests, not according to powers' order or international organizations' demand, said President Hugo Chavez Frias.

In an article carried by the newspaper Correo del Orinoco recently, the president accused the imperialists of slandering the country's decision to keep its foreign currency reserve in different countries.

He announced that the Venezuelan government would deposit nearly 11 billion US dollars in banks of Brazil, China and Russia, in order not to be affected by the U.S. and European economic crisis.

The Venezuelan people should learn about the economy to promote socialist construction and keep the process of change that started in 1999 from being hurt by the enemy, he added.