Namibia’s foreign reserves increased marginally to 31.6 billion Namibian dollars (2.34 billion U.S. dollars) at the end of October from 31.4 billion (2.33 billion U.S. dollars) at the end of September, statistics from the central bank showed on Tuesday.

The Bank of Namibia said the increase was mainly due to inflows from the Southern African Customs Union (SACU).

Namibia, a member of the five-nation customs union, relies heavily on revenue from SACU, with about a third of the 2017/18 total budget expected to come from SACU receipts alone. Enditem

Source: Xinhua/


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