16 °c
London
Tuesday, April 20, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Currency

USD, ZAR, RMB and gold constitute Mozambique’s international reserves

FurtherAfrica by FurtherAfrica
June 28, 2019
in Currency, Economy, Finance, Gold
Reading Time: 1 min read
0
Mozambique backs regional currency repatriation
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Mozambique’s Net International Reserves (RILs) consist mainly of US dollars, rands, yuan and gold. The Bank of Mozambique explained to @Verdade that “the constitution of foreign reserves in Chinese currency is also in line with the process of internationalisation of this currency”.

About 64 percent of our country’s Net International Reserves are held in US dollars. Twelve percent is held in South African rands, 10 percent in yuan, six percent in gold, four percent in New Zealand dollars, two percent in Australian dollars, one percent in UK pounds sterling, and the remaining one percent is made up of Euros, Swiss francs, Swedish crowns, Norwegian crowns, Canadian dollars, Japanese yen and South Korean won.

The central bank explained to @Verdade that RILS, currently valued at US $ 3.1 trillion, is partly constituted in Yuan by the “need to comply with the internationally adopted principle (good practices) of Reserve Asset Allocation of a country based on the structure of its liabilities”.

“As is known, Mozambique has liabilities to China arising from the need for import payments and external debt. It should also be noted that the constitution of foreign reserves in the Chinese currency is also in line with the process of internationalisation of this currency and with the inclusion of RMB (renminbi) in the basket of SDR currencies (special drawing rights of the IMF),” the central bank explained to @Verdade.

Source: A Verdade  via Club of Mozambique

Related

Tags: Bank of MozambiqueFeatureforeign currencyinternational reservesMozambiqueNet International ReservesRILsмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Tanzania suspends US$10B Chinese port project

Next Post

Angola retail depositors exempted from VAT

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Economy

Angola: Fitch estimates growth of 1.7% this year

by FurtherAfrica
April 20, 2021
Mozambique

Mozambique: Metical appreciated 35% this year, but earnings expected to reverse – Standard Bank

by FurtherAfrica
April 20, 2021
Zimbabwe secures US$98M for Brazilian irrigation equipment
Agriculture

South Africa: agribusiness in 2020 and what to expect in 2021

by Farmers Review Africa
April 20, 2021
Currency

Zimbabwe considering bank fines, suspensions over currency gouging

by Staff
April 19, 2021
Where To Invest In Africa 2020 – RMB Report
Economy

Sub-Saharan Africa’s economic growth set to recover in 2021 – IMF

by FurtherAfrica
April 19, 2021
Next Post
Angola VAT to enter into force in October

Angola retail depositors exempted from VAT

China’s Tsingshan mulls US$1B steel plant in Zimbabwe

Mozambique: Triton minerals receives US$20M from China's Jinan

CannaTech Summit comes to Cape Town as cannabis industry surges

CannaTech Summit comes to Cape Town as cannabis industry surges

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?