Foreign reserves increase to USD 6 bn

International Reserves Gross Official Reserves (GOR) stood at US dollars 6.0 billion at end September 2024, recording an Increase of around US dollars 1.6 billion from end 2023.

This includes the swap facility from the People’s Bank of China (PBOC), which is subject to conditionalities on usability. Net purchases of foreign exchange from the domestic foreign exchange market by the Central Bank amounted to US dollars 96 million (based on trade date) in September 2024.

Meanwhile, import coverage of GOR (including the PBOC swap) amounted to 3.9 months of imports as at end September 2024.

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