According to BDL’s latest monetary report, the BOP recorded a surplus of $925.9M by July 2023, far beyond the deficit over the same period last year of $2.78B. Accordingly, Net foreign Assets (NFAs) of BDL fell by $1.45B, as BDL has continued to make some intervention on the Forex market through “Sayrafa” platform while the NFAs of commercial banks rose by $2.38B by July 2023.
On a monthly basis, the BOP recorded a deficit of $217.2M in July 2023, where the NFA of BDL declined by $524.8M and NFA of banks rose by $307.6M. The changes were noticeable on both sides of the commercial banks’ balance sheet; claims on non-resident financial sector increased by $84.06M, claims on non-resident customers retreated by $32.83M while currency and deposits with non-resident central banks dropped by $9.42M and other foreign assets added $108.33M in July 2023. On the liabilities side, non-resident customers deposit contracted by $3.94M and non-resident financial sector liabilities decreased by $41.49M.
Balance of Payments (BoP) by July 2023 (in $M)
Source: BDL, BLOMINVEST
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