Mozambique’s net reserves at US$2.409 billion

28 August 2012

Mozambique’s net international reserves stood at US$2,409.4 million at the end of the first half of August, a fortnightly increase of US$73.1 million, Banco de Moçambique informed in Maputo.

The increase was justified by the entry of US$40.3 million in funds for various government projects, US$7.2 million in external aid funds for direct state budget support, US$5.4 million in miner income remittances and US$0.5 million in net interest from asset applications abroad.

The bank added that during the period in question the metical lost value against the dollar and rand. For the dollar the exchange rate practiced by commercial banks in transactions with the public was 28.77 meticais/dollar. (macauhub)