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Cemac: Interbank transactions were up in number but down in value at end Jul,2020

Cemac: Interbank transactions were up in number but down in value at end Jul,2020
  • Comments   -   Friday, 27 November 2020 10:45

(Business in Cameroon) - In its recently-published September 2020 monetary policy report, the Bank of Central African States (Beac) reveals that during the period ending in late July 2020, the interbank market in the CEMAC zone was very dynamic, once again. Indeed, the number of transactions rose from 240 at end-July 2019 to 320 at end-July 2020 (+80).

According to the report, this increase in the number of transactions is due to repurchase agreements (repo).

During the reference period, 114 interbank transactions (valued at XAF1,103.2 billion) were performed, against 66 (valued at XAF993.1 billion) during the same period in 2019.

Despite this increase in the number and value of repurchase agreements, the overall financial value of interbank transactions in the CEMAC zone fell by XAF182.7 billion. The transactions were down from XAF2,233.7 billion between July 2018 and July 2019, to only XAF2,051 billion at the end of July 2020, the central bank indicates.

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