{"id":12415,"date":"2022-08-22T19:25:26","date_gmt":"2022-08-22T19:25:26","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob"},"modified":"2022-08-22T20:23:05","modified_gmt":"2022-08-22T20:23:05","slug":"forex-reserves-stood-at-p56bn-at-end-of-2021-bob","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob","title":{"rendered":"Forex Reserves stood at P56bn at End of 2021 \u2013 BoB"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>At the end of December 2021, foreign exchange reserves amounted to P56 billion, an increase of 4.6 percent from P53.4 billion in December 2020, the Bank of Botswana (BoB) says in its 2021 annual report.<\/b><\/p>\n

The reserves were equivalent to 9.1 months of import cover of goods and services. \u201cIn US dollar terms, the level of foreign exchange reserves fell by 2 percent from USD4.9 billion to USD4.8 billion and remained unchanged in Special Drawing Rights (SDR) terms at SDR3.4 billion over the same period,\u201d says the report.<\/p>\n

IMF allocation<\/b><\/p>\n

BoB says the increase in forex reserves was due to a number of factors, including recovery in diamond markets, good performance of externally managed funds, especially the equities mandates, and receipts of funds from an International Monetary Fund (IMF) SDR allocation of USD189 million and a World Bank loan, which offset the elevated withdrawals from the Transaction Balance Tranche (TBT).<\/p>\n

Exchange Rate Policy<\/b><\/p>\n

According to the report, in 2021 the Pula basket weights were maintained at 45 percent and 55 percent for the South African Rand (ZAR) and the IMF\u2019s SDR, respectively, reflecting Botswana\u2019s trade pattern and financial relationships with the external world.<\/p>\n

\u201cThe Bank implemented an annual downward rate of crawl of 2.87 percent with a view to enhance domestic industry competitiveness in response to the adverse impact of the COVID-19 pandemic on the economy,\u201d it says.<\/p>\n

In the 12 months to December 2021, the trade-weighted nominal effective exchange rate (NEER) of the Pula depreciated in line with the rate of crawl of the Pula exchange rate.<\/p>\n

\u201cThe real effective exchange rate (REER) appreciated by 0.2 percent in the 12 months to December 2021, because of a higher positive inflation differential between Botswana and trading partner countries than the downward rate of crawl, suggesting minimal loss in international competitiveness of domestic firms,\u201d says the central bank.<\/p>\n

Domestic producers<\/b><\/p>\n

BoB says beyond the exchange rate, durable competitiveness of domestic producers is also achieved through a sustained improvement in productivity, which also contributes to lower inflation.<\/p>\n

\u201cImportantly, the enhanced transparency engendered by the disclosure of Pula exchange rate parameters helps to reduce uncertainty surrounding the exchange rate policy and enriches information used in making financial and investment decisions by economic agents,\u201d the report notes.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. At the end of December 2021, foreign exchange reserves amounted to P56 billion, an increase of 4.6 percent from P53.4 billion in December 2020, the Bank of Botswana (BoB) says in its 2021 annual report. The reserves were equivalent to 9.1 months of import cover of goods and services. \u201cIn US dollar […]<\/p>\n","protected":false},"author":84,"featured_media":12414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,237,234],"class_list":["post-12415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nForex Reserves stood at P56bn at End of 2021 \u2013 BoB - Botswana<\/title>\n<meta name=\"description\" content=\"At the end of December 2021, foreign exchange reserves amounted to P56 billion, an increase of 4.6 percent from P53.4 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex Reserves stood at P56bn at End of 2021 \u2013 BoB\" \/>\n<meta property=\"og:description\" content=\"At the end of December 2021, foreign exchange reserves amounted to P56 billion, an increase of 4.6 percent from P53.4 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-22T19:25:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-22T20:23:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/08\/postQueueImg_33-6303e596eb7f1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Forex Reserves stood at P56bn at End of 2021 \u2013 BoB\",\"datePublished\":\"2022-08-22T19:25:26+00:00\",\"dateModified\":\"2022-08-22T20:23:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\"},\"wordCount\":382,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/08\/postQueueImg_33-6303e596eb7f1.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/forex-reserves-stood-at-p56bn-at-end-of-2021-bob\",\"name\":\"Forex Reserves stood at P56bn at End of 2021 \u2013 BoB - 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