Published On: Thu, Nov 22nd, 2012

Foreign exchange reserve has decreased with 500 million

WILLEMSTAD – The foreign exchange reserve currently at the Central Bank and commercial banks has decreased with 281 million compared with the same period last year. According to the Central Bank’s weekly report on the foreign exchange reserve in November, this had an increase of 7.7 million compared to October. However in the second week of November the reserves had a decrease of 85.2 million. If the second week of November from this year is compared to the second week of November from last year than it is clear that the reserves have decreased with 281 million.

If the reserves are analyzed since December 2010, the countries Curacao and Sint Maarten had about 2.75 billion. In December 2011 there was a decrease which reached 2.25 billion. If the tendency is followed on 2012, in January the reserves had a small increase of 28.1 million, February it had a decrease of 74.7 million, march it went up with 66.1 million, in April it went down with 27.3 million, May it went up with 352.5 million, June it went down with 53.5 million, July it went down again with 72.2 million, August down with 78.1 million, September also down with 97.5 million. The numbers for October shows a decrease with 85.5 million. In the first week of November it went up with 7.7 million, but in the second week it went down with 85.2 million.

If these numbers are analyzed and compared with the same month last year, regrettably it has not seen an increase in any of the months of this year. If the months of 2011 and 2012 are compared, the month with the largest decrease is February with 728 million. On the other hand the smallest decrease was in the month of October with 105.4 million compared to October 2011.

It is important to inform that the countries Curacao and Sint Maarten have started the year 2011 (after their new constitutional structure) with a 2.75 foreign exchange reserve. After one year it has decreased to 2.25 billion, thus a 500 million decrease. Seeing the tendency it can decrease more.

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