The volume of mandatory reserves held by Mozambique’s commercial banks declined 1.9% in June, settling at 302.9 billion meticais, partially reversing a sharp increase recorded in the previous month.
According to statistical data published by the Bank of Mozambique and reviewed on Friday (28), mandatory reserves reached 308.8 billion meticais in May, representing a 30.6% increase from the 236.5 billion meticais recorded in April.
The June decline represents a modest correction following the significant rise triggered by an increase in the mandatory reserve coefficient applied to local-currency liabilities. In May, the Bank of Mozambique’s Monetary Policy Committee raised the coefficient on local-currency liabilities from 29% to 39%, while maintaining the rate on foreign-currency liabilities at 29.5%.
The central bank justified the decision by the need to absorb excess liquidity in the banking system and contain potential inflationary pressures. Despite the June decline, the volume of mandatory reserves remains significantly above levels observed during the first four months of the year.
In January, reserves stood at 225.3 billion meticais and rose gradually through March before retreating in April and recording a sharp increase in May. Mandatory reserve coefficients have been one of the key instruments used by the Bank of Mozambique to control available liquidity in the financial system.
Between 2023 and 2024, the central bank set the coefficients at historic levels of 39% for local-currency liabilities and 39.5% for foreign-currency liabilities. In January 2025, it reduced them to 29% for local-currency and 29.5% for foreign-currency liabilities, at a time when the business sector was calling for an easing of reserve requirements due to difficulties in accessing foreign exchange and credit.
However, in May of this year, the central bank again tightened the coefficient applied to local-currency liabilities, citing risks of rising inflationary pressures as justification for the measure.
At its most recent Monetary Policy Committee meeting, held in July, the Bank of Mozambique decided to maintain mandatory reserve coefficients at 39% for local-currency liabilities and 29.5% for foreign-currency liabilities.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/08/28/economia/banca/reservas-obrigatorias-da-banca-diminuiram-quase-2-em-junho/
