The Bank of Mozambique will this month make available money six times more than expected in the Interbank Foreign Exchange Market. The guarantees announced in April indicated an injection of 10 million dollars. The recent announcement indicates that the foreign exchange will be $60 million.
The injection of the additional $60 million will take place over the next two weeks and will follow a schedule.
On May 3, $15 million will be made available; on the 5th, the foreign exchange market will receive another $10 million; at the close of the first week, on May 7, $10 million will be injected.
The following week: on May 10, another $10 million will be placed on the market; on May 12, another $7.5 million will be injected; the cycle of injections closes on May 14, with the placement on the foreign exchange market of another $7.5 million.
The Bank of Mozambique justifies its decision to reinforce its intervention in the market with foreign exchange supply with the need to meet the demand for liquidity in foreign currency.
The regulator’s statement also said that the Bank of Mozambique, also in the same period, would continue to provide up to 10 percent of the payment of the value of import invoices for liquid fuel on presentation of proof.
