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Banking liquidity increases to N$4.1 billion in March

Banking liquidity increases to N$4.1 billion in March

According to the Bank of Namibia latest Money and Banking Report, the banking industry’s overall liquidity position increased to N$4.1 billion in March, N$1.7 billion higher than the level recorded during February.

The central bank attributes this significant rise in the overall liquidity position mainly stemmed increased mineral sales proceeds coupled with a higher Government expenditure which is customary towards the end a fiscal year.

The report further shows that international reserves held by the Bank increased on a monthly basis at the end of March 2019 by 3.0 percent, month-on-month, to N$32.6 billion at the end of March 2019, solely explained by a depreciation of the Namibia Dollar against the US Dollar.

Meanwhile, the report shows that the annual inflation rate stood at 4.5% in March, compared to a slightly lower level of 4.4% recorded at the end of the preceding month.

According to the report the meagre increase in the overall inflation during the month under review was mainly driven by the categories; education, transport, alcoholic beverages and tobacco as well as food and non-alcoholic beverages.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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