The Central Bank ended 2024 purchasing potentially the largest amount of foreign exchange from the domestic banking system for a single year in their quest to rebuild the foreign currency reserves to a more formidable level since its depletion to its lowest point back in 2022.
Continuing its streak of net purchases, the Central Bank purchased US$ 231.3 million in foreign exchange from the domestic banking system in December 2024 and sold US$ 22.5 million in the same month, bringing the net purchases in the month to US$ 208.8 million. This marked a decline from US$ 327.0 million in net purchases in November, but up sharply from the US$ 113.0 million in net purchases in the same month a year ago.
Source – Dailymirror