Helmke Sartorius von Bach | Jul 1, 2020 | 0
Liquidity position of commercial banks decline in November
The banking industry’s overall liquidity position declined to N$1.8 billion in November 2019 from an average level of N$2.8 billion in October 2019, the bank of Namibia reported.
This decline is attributed to the higher issuance of Bank of Namibia bills and the issuance of a new Treasury Bill, coupled with cross border payments made during November 2019.
Meanwhile, the stock of international reserves declined by 8.4% month-on-month to N$29.8 billion at the end of November 2019.
The central bank said that this decline is mainly due to the net purchases of the Rand by commercial banks for import payments coupled with increasing government foreign payments during the month under review.
Namibia’s annual inflation rate stood at 2.5% in November 2019, declining by a 0.5% from a month earlier, and transport, as well as food and non alcoholic beverages, are singled-out as the main contributors for this decline.