Net foreign currency reserves reached TND 25,164.7 million or 109 days' worth of imports, monetary and financial indicators published Friday by the Central Bank of Tunisia (BCT) show.

These reserves dropped by TND 1,249.4 million compared to the same period last year, that is 109 days of imports down from 116.

Foreign exchange reserves are beefed up by remittances from Tunisians abroad and tourist receipts.

Remittances from Tunisians abroad reached TND 4,677.2 million on August 10 compared to TND 4,446 MD during the same period in 2022. Similarly, tourist receipts posted an upward trend (+TND 1,504.4 MD) , reaching 4,325.1 MD.

The global refinancing volume on August 17 grew, rising from TND 12,385 million to TND 5,517.9 million compared to the same period in 2022, marking a surge of 3,132.9 MD.

The volume of total interbank transaction volume edged up to TND 1,866.3 million against TND 1,629.9 million on August 17, 2023.

The monetary market rate reached 8% up from 7.04% on the same date last year.

Source: Agence Tunis Afrique Presse