December 31, 2017 / 9:18 AM / in a year

Namibia's foreign reserves hit five-month low in Nov -central bank

WINDHOEK, Dec 31 (Reuters) - Namibia’s stock of foreign reserves declined at the end of November to a five-month low of 28.5 billion Namibian dollars ($2.31 billion), according to central bank monetary and banking statistics seen by Reuters on Sunday.

The level of international reserves declined from 31.6 billion Namibian dollars ($2.56 billion) at the end of October, mainly due to exchange rate fluctuations and net commercial banks purchases of foreign currency, the Bank of Namibia said.

$1 = 12.3574 Namibian dollars Reporting by Nyasha Nyaungwa; Editing by Matthew Mpoke Bigg

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