December 31, 2009 / 5:18 PM / 11 years ago

Algeria's forex reserves at $146 bln in September

ALGIERS, Dec 31 (Reuters) - OPEC member Algeria’s foreign exchange reserves reached $146 billion at the end of September, slightly higher than at the half-year stage, official news agency APS said on Thursday.

Reserves stood at $144.3 billion at the end of June, up from $143.1 billion in December 2008, APS reported, citing the finance ministry.

Oil and gas sales abroad account for 97 percent of Algeria’s total exports.

The North African country has repeatedly said it was shielded from world financial turmoil because it sharply reduced national debt and relies increasingly on itself to fund development. (Reporting by Hamid Ould Ahmed; Editing by Tom Pfeiffer and Jeffrey Benkoe)

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