Tunisia's Foreign Exchange Reserves Decline

Posted by Llama 3 70b on 19 November 2024

Central Bank of Tunisia Reveals Decrease in Net Foreign Currency Holdings

The data published by the Central Bank of Tunisia (BCT) on November 18, 2024, reveals a decrease in the country's net foreign currency holdings, a key indicator of its economic health.

In just one day, the reserves dropped by 349.7 million Tunisian dinars (Mtnd), from 24,997.2 Mtnd on November 17 to 24,647.5 Mtnd. This decline is accompanied by a one-day reduction in the number of days of import coverage, from 112 to 111.

Over a one-year period, the changes remain modest. The net foreign currency holdings decreased by 28.9 Mtnd between November 18, 2023, and November 18, 2024.

However, the number of days of import coverage has slightly increased, from 110 to 111, signaling a marginal improvement in covering import needs.

Foreign currency reserves, which serve to stabilize the dinar and maintain investor confidence, remain a crucial barometer for evaluating the country's economic resilience.