06
Mar
CHAMWE KAIRA The Bank of Namibia’s stock of international reserves increased at the end of January and rose to N$64.3 billion, reflecting a month-on-month increase of 2.1%. The monthly increase in reserves was predominantly driven by inflows of N$7 billion from SACU. This level of international reserves translates into 4.2 months of import cover. When excluding oil exploration and appraisal activities, which are mainly financed from abroad, it stood at 5.2 months of import cover at the end of January, the central bank stated. Banking industry cash holdings increased in January, with cash balances within the banking industry increasing to…