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The Central Bank is reaffirming its commitment to improving efficiency and transparency in the foreign exchange market, even as persistent demand-supply imbalances continue to challenge the system.
Central Bank Governor Larry Howai disclosed that foreign exchange reserves closed October at US$4.62 billion, only marginally lower than July’s figure of US$4.65 billion, despite continued market support averaging US$100 million per month.
He noted that bi-weekly interventions remain a source of assurance for market participants, but emphasised that the bank’s focus is shifting toward building sustainable solutions as its capacity to provide support is gradually diminishing.
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