March 25, 2023

Dubai Week

Complete Dubai News World

Bahrain's foreign reserves fall 6.17%

Bahrain’s foreign reserves fall 6.17%

– What is the value of the decline in foreign assets in September?

1.326 billion dinars ($ 3.53 billion).

– How many foreign assets were registered in August?

It recorded 1.413 billion dinars ($ 3.77 billion).

On Sunday, the Central Bank of Bahrain’s net foreign assets fell 6.17% on a monthly basis, according to official data.

Net foreign assets fell to 1.326 billion dinars ($ 3.53 billion) last September, according to data released by the Central Bank of Bahrain.

Bahrain Central’s foreign assets stood at 1.413 billion dinars ($ 3.77 billion) in the previous August.

According to the data, foreign assets increased by 86.6% year-on-year in September 2020, compared to about 710.6 million dinars ($ 1.89 billion).

Foreign assets were distributed between 2.5 million dinars ($ 6.6 million) in book value of gold reserves, plus an additional 1.323 billion dinars ($ 3.53 billion) in foreign currency deposits.

Bahrain is considered the least productive country in terms of oil resources by the Gulf Cooperation Council, and produces about 200,000 barrels of crude a day.

The Bahraini economy was hit by an outbreak of the corona virus, which recorded a contraction of 5.81% in 2020, while a contraction of 2.11% continued in the first quarter of 2021 and then recovered to 5.7% in the second quarter of this year.

See also  Racial discrimination cost the United States $ 2,300 billion