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FinancialNews


  • 08-06-19

    Forex reserves in Algeria drop to USD79.88b

    (MENAFN) Bank of Algeria revealed that the country's foreign exchange (forex) reserves for last year were down to stand at USD79.88 billion.

    Compared to the USD97.33 billion of foreign exchange reserve recorded in 2017, over USD17.4 billion of losses were recorded in 2018.

    Algeria's decline, as the bank explained, is attributed to imports exceeding exports as well as the deficit that the Finance Ministry posted.

    In a statement, the bank added that the reserves are forecast for more decreases, urging a boost in efforts related to eh budget for stability in payment balance to be achieved.

    MENAFN0806201900450000ID1098620630

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