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Sunday 13 June 2021
HomeNewsTunisia: foreign exchange reserves cover 161 days of imports

Tunisia: foreign exchange reserves cover 161 days of imports

Net foreign exchange reserves exceeded 23.1 billion dinars, equivalent to 161 days of import, at January 5, 2021, hitting a new record, according to the latest statistics published by the Central Bank of Tunisia (BCT).

Foreign currency reserves have risen by more than 3.8 billion dinars (+ 51 days of imports), compared to the same period last year.

This increase in reserves is explained by a lower value of cumulative external debt services, amid higher cumulative labor income, and a recovery in the trade balance to 11.6 billion dinars, at the end of November 2020 (a drop of 6.1 billion dinars, compared to November 2019).

The BCT also reported a 19% drop in the overall volume of refinancing at the same date to 9.5 billion dinars, while total interbank transactions went up slightly by nearly 2% compared to January 2020 figures.

As for the money market rate (MMR), it stabilized at 6.10%, from 7.85% in January 2020.

The average monthly money market rate stood at 6.12% in December 2020, the lowest level reached since March 2018 (6.04%).

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