According to data from the Banky Foiben’i Madagasikara (BFM), Madagascar’s official foreign exchange reserves are now sufficient to cover seven months of imports of goods and services, compared to 5.9 months during the same period in 2025. As of the end of June 2026, these reserves stood at $3,676.2 million, up from $3,067.4 million a year earlier.
Over the course of one year, the level of reserves has increased by $608.8 million. This development enhances the country’s capacity to meet its foreign currency needs and strengthens its external coverage level.
The growth in reserves is largely attributed to the BFM’s interventions in the Interbank Foreign Exchange Market (MID). The central bank reported net foreign currency purchases of $217.5 million during this period.
These purchases were made possible by a higher supply of foreign currency in the market, driven by service sector revenues—particularly in tourism and business services—as well as export earnings from traditional and mining sectors.
Grants, project-related financing, and other transfers, including remittances from the diaspora, also contributed to the increased supply of foreign currency.
At the end of June 2025, foreign exchange reserves covered 5.9 months of imports. The level recorded at the end of June 2026 has extended this coverage to seven months, marking an improvement of more than one month over the year.
Captured & Published at: 2026-08-24 00:38:39 (Madagascar Local Time EAT)
Original Source: https://2424.mg/monnaie-les-reserves-de-change-de-la-banky-foibeni-madagasikara-couvrent-sept-mois-dimportations/?utm_source=rss&utm_medium=rss&utm_campaign=monnaie-les-reserves-de-change-de-la-banky-foibeni-madagasikara-couvrent-sept-mois-dimportations
