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HomeNewsTunisia: foreign exchange reserves at its highest level since October 2016

Tunisia: foreign exchange reserves at its highest level since October 2016

In terms of days of imports, the level of foreign exchange reserves of the Central Bank of Tunisia (BCT) reached the 114-day mark for the first time since October 2016.

According to daily data from the BCT, as of February 7, 2020, net foreign exchange reserves amounted to the equivalent of 19.78 billion dinars, up 5.67 billion dinars compared to last year, the equivalent of 31 days of imports.

This growth in foreign currency reserves results from the continued increase in tourism receipts which have cumulated 390 million dinars on January 31, 2020, posting a rise by 93 million dinars compared to the same date of the previous year

Similarly, labor income (mainly made up of remittances from Tunisians residing abroad) continued its upward curve, reaching 422.4 million dinars at the end of last January, compared to 367.8 million last year.

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