Foreign currency reserves rise to 121 days of import (BCT)

Foreign currency reserves grew by over TND 3.5 billion, that is 21 more days of import, over one year starting January 5, 2023, monetary and financial data released Saturday by the Central Bank of Tunisia (French: BCT) show. Actually, reserves exceed presently TND 26.6 billion (that is 121 days of import) against TND 23 billion (or 100 days of import) in early January 2023. This rise is driven by higher tourist receipts and expat remittances last year. Tourist revenues edged up 28% in 2023 in comparison with 2022, totalling nearly TND 7 billion. Likewise, expat remittances rose 2% from TND 7.3 billion on December 31, 2022 to TND 7.5 billion presently. Foreign debt servicing posted a 31.7% rise, standing at TND 11.7 billion in 2023 against TND 8.9 billion in December 2022. Source: Agence Tunis Afrique Presse