- Higher returns, gold revaluation and extra SDRs add CFAF 4 trillion in one year
- Bigger buffer bolsters WAEMU’s ability to manage currency and external shocks
Cotonou, Benin – The Central Bank of West African States boosted its foreign-exchange reserves to 13.5 trillion CFA francs (about US$22.3 billion) last year, a rise of 42 % from 2023, according to the BCEAO’s annual report released on 23 April. The increase was driven by stronger yields on hard-currency placements, a revaluation gain on gold holdings and an expanded stock of IMF Special Drawing Rights.
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