Foreign reserves rose to N$56.4 billion in June
Namibia's stock of international reserves increased to N$56.4 billion at the end of June, supported by higher South African rand inflows through commercial banks, gains on fixed income securities, currency depreciation and additional gold monetisation, according to the Bank of Namibia.
CHAMWE KAIRA
Namibia’s stock of international reserves increased to N$56.4 billion at the end of June, supported by higher South African rand inflows through commercial banks, gains on fixed income securities, currency depreciation and additional gold monetisation, according to the Bank of Namibia.
The country’s official foreign reserves rose by 1.8% from the previous month, providing an estimated import cover of 3.5 months, or 3.9 months when oil and gas exploration and appraisal-related imports are excluded.
