Mozambique: Commercial Banks Mandatory Reserves Increase to 308.9 Billion Meticais

Maputo — The mandatory reserves held by Mozambique’s commercial banks increased to 308.9 billion meticais (4.8 billion US dollars at the current exchange rate) last May, which corresponds to almost 31 percent.

According to the latest statistical report from the Bank of Mozambique, in its role as regulator of the national financial system, after the decline recorded in April, mandatory reserves surged in May following the entry into force of the latest increase in reserve requirements decided by…