Algeria: 174 billion dollars of currency reserves in late June
ALGIERS- Algeria has 173.91 billion dollars in foreign reserves at the end of June 2011, announced in Algiers on Monday the governor of the Bank of Algeria Mohamed Laksaci.
- "The outstanding foreign exchange reserves of Algeria totaled 173.91 billion dollars equivalent at end-June 2011," said Laksaci at a conference on key financial and monetary developments in the first half of 2011.
- Foreign exchange reserves of Algeria were 162.2 billion dollars at the end of 2010, more than three years of imports of goods and services, against 148.9 billion dollars at the end of 2009, according to the Bank.
- The increase in foreign exchange reserves was boosted in recent years by rising oil prices of which Algeria derives almost 98% of its currency.
- In 2010, revenue from hydrocarbons (gas and oil) of Algeria reached $ 55.7 billion, according to official figures.
- Ennaharonline/ M. O.