The Central Bank announced a strong blow to the US dollar, by registering the country’s monetary reserves during the last October for the second month in a row, which makes it able to control its exchange rates in banks and the lack of sharp declines in the value of the pound against foreign currencies.
According to a statement on the Central Bank’s website, at the end of October 2022, net overseas reserves increased by around 214 million dollars to reach $33.4 billion.
Hassan Abdullah, the central bank’s governor, reiterated the plan to increase the nation’s cash reserves over the next four years in order to strengthen its resilience to external shocks.
The central bank urgently deals the dollar a serious punch.
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