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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.


 

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