Net foreign exchange reserves cover only 98 days of imports as of November 15, 2022, after falling to 99 days of imports on Monday, according to daily monetary and financial indicators published by the Central Bank of Tunisia (BCT) Tuesday.
In value terms, net foreign exchange reserves increased by 1.076 billion dinars (MD), to 21.787 billion dinars against 20.711 billion dinars on November 15, 2021.
Compared to the previous year, the number of days of imports is down by 25 days, from 123 days to 98 days.
The decline in foreign currency reserve assets is due, in part, to the depreciation of the Dinar against major foreign currencies. In fact, the value of one dollar has gone from 2.866 dinars on November 14, 2021 up to 3.224 dinars currently. Similarly, one euro is currently worth 3.340 dinars, whereas it was worth 3.282 dinars at the same time last year.
The drop in foreign exchange reserves is also due to the rise in imports during the first ten months of 2022, by 34% compared to the same period of 2021, to 68.6 billion dinars, while exports have increased by only 24.9% to a value of 47.3 billion dinars.
The country’s trade deficit worsened by more than 60%, from 13.3 billion dinars during the first ten months of 2021 to 21.3 billion dinars at the end of October 2022.
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