Mozambique’s foreign reserves total US$28.76 billion at the end of September

30 October 2013

Mozambique’s net foreign reserves totalled US$28.775 billion at the end of September, which was a rise of 5.33 million against the previous month, said the National Bank of Mozambique.

The increase is essentially the result of potential exchange rate gains of US$41.7 million, foreign aid payments to support the State Budget and the balance of payments, totalling US$19.1 million and net inflow of currency for State projects in the amount of US$9.5 million.

This income was offset by sales of US$51.7 million by the Bank of Mozambique on the interbank market and by the payment of US$14.4 million in foreign debt.

The central bank also said that the total at the end of September was the equivalent of 6.5 months of goods and services imports.

In the same document the Bank of Mozambique said that debt taken on from national banks by the private sector had risen again in August by 3.557 billion meticals rising to a total of 140.446 billion meticals. (macauhub)