Mozambique Says Reserves Undermine Market-Stabilizing Mettle

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  • Central bank holding reserves worth 3.2 months of imports
  • Currency has weakened 21 percent against dollar this year

Mozambique’s diminishing international reserves are undermining the central bank’s ability to stabilize the foreign-exchange market as the metical, Africa’s worst-performing currency, continues to depreciate, Governor Ernesto Gove said.

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