eSwatini’s reserves improve to $378.57m

APA-Mbabane (eSwatini)

eSwatini’s gross official reserves have grown to $378.57 million at the end of April 2019, reflecting a month-on-month growth of 16.4 percent.

The Central Bank of eSwatini reported that the reserves were boosted by the quarterly inflow of Southern African Customs Union (SACU) revenue at the beginning of April 2019.

“At this level, the reserves were equivalent to an import cover of 2.3 months, higher than the 2.0 months observed in March 2019.

Year-on-year reserves declined by 24.4 per cent,” Governor Majozi Sithole said in a statement seen on Monday.

It is further said that Valued in Special Drawings Rights (SDR), the reserves improved by 17.3 per cent month-on-month to settle at SDR265.7 million.


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