Bank of Algeria: Foreign exchange reserves amount to 66.14 billion dollars at end of March

BY/ Hana Saada

ALGIERS- The Monetary Policy Operations Committee, COPM, at the Bank of Algeria announced, on Sunday, that the official foreign exchange reserves reached 66.14 billion dollars at the end of March 2023, against 60.99 billion dollars at the end of  December 2022.

The same monetary institution explained that the increase in Algeria’s foreign exchange reserves comes in the context of a strong improvement in the Treasury current account at the Bank of Algeria, which recorded a positive balance of 1,788.31 billion dinars at the end of March 2023, of which 833.73 billion dinars housed in the Revenue Regulation Fund (FRR).

Also, in terms of bank liquidity, it continues to increase from 1,996.41 billion dinars at the end of December 2022 to 2,475.817 billion dinars at the end of March 2023, due to the increase in export revenues.