US EditionReserves increase by 3.8% to N$59.6 billion – News Stand
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Reserves increase by 3.8% to N$59.6 billion – News Stand
Chamwe Kaira The Bank of Namibia’s international reserves increased by 3.8% to N$59.6 billion at the end of June. This rise was mainly driven by net inflows from commercial banks and customer foreign currency (CFC) placements. The reserves cover 3.9 months of imports, or 4.8 months excluding oil exploration and appraisal activities. Namibia’s banking industry cash balances fell further in June. Commercial banks held N$6.1 billion in cash, down
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