Mozambique: INGD needs over 700 million dollars to implement action plan for internally displaced
Bank of Mozambique reduces reserve requirement ratio in national currency to 13.0%
3:22 CAT | 09 Sep 2019
File photo: DW
The Bank of Mozambique has reduced its reserve requirement ratio by 100 basis points to 13.0% for liabilities denominated in local currency, the central bank said in a circular published on Tuesday on its website.
Circular No. 02/EMO/2019, issued by the Bank of Mozambique Monetary Stability Department, also said a decision was made to keep the reserve requirement ratio for banks’ liabilities or deposits denominated in foreign currency at 36.0%.
The decision, according to the statement, is due to the stability of the one-digit inflation rate, and the same level is expected for the coming months.
This update took effect from the mandatory reserve period, which started on 7 September.
Source: Macauhub
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