BDL’s Foreign Assets increased in the first two weeks of April in spite of large volume of Sayrafa

According to the balance sheet of Banque du Liban (BDL), the central bank’s total assets fell by 38.32% compared to last year, to reach $101.91B by mid-April 2023, amid adopting the 15,000 LBP/USD official rate by BDL. The fall was mainly due to the 83.24% year-on-year (YOY) drop in other assets, grasping 10.39% of BDL’s total assets and reaching $10.59B by mid-April 2023. Furthermore, the gold account, representing 18.35% of BDL’s total assets, increased by 2.99% yearly to reach $18.70B by mid-April 2023.

BDL’s foreign assets, consisting of 14.22% of total assets dropped by 11.32% YOY and stood at $14.50B by mid-April 2023, noting that BDL holds in its foreign assets $5B in Lebanese Eurobonds. On a different note, total volume of dollars on Sayrafa platform reached $841.85M in the first two weeks of April 2023 while, surprisingly BDL’s foreign assets increased by $87.15M during the same period.

On the liabilities front, financial sector deposits, representing 88.40% of BDL’s total liabilities, decreased by 18.32% and reached $90.09B by mid-April 2023 compared to last year, of which more than 90% are denominated in dollars. Lastly, currency in Circulation outside of BDL, consisting of 4.35% of BDL’s total liabilities, plunged by 82.48% annually to reach $4.43B by mid-April 2023 amid adopting the 15,000 LBP/USD official rate by BDL.

BDL Total, Foreign assets and Currency in Circulation by mid-April 2023 ($B):

BDL’s Foreign Assets increased in the first two weeks of April in spite of large volume of Sayrafa

Source: BDL, Blominvest

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