CEMAC: BEAC’s foreign exchange reserves fall by 16.43% over one year

The foreign exchange reserves of the Bank of Central African States (BEAC) stood at 4.137 billion FCFA (approximately 7.5 billion USD) as of May 31, 2021, against 4.951 billion on the same date in 2020. That is to say a contraction of 16.43% in one year, according to the recent report on monetary policy published by the issuing body based in Yaoundé (Cameroon).

These reserves are made up of 84% of foreign sight assets, 6.3% of other foreign currency assets in the trading room, 5% in gold stocks, and 4.7% in Fund assets. international monetary policy (IMF).

“On a monthly basis, in May 2021 there was an increase in foreign exchange reserves of 129 billion (3.2%). This development results from the positive net situation of transfers for the month under review (119 billion), in connection with a decline in the level of outgoing transfers ”, explains the Central Bank common to the 6 countries of the African Economic and Monetary Community. power plant (CEMAC).

As a reminder, foreign exchange reserves fell to 3,686 billion FCFA in March.

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