Cambodia's Foreign Reserves Increase to 18.4 bln USD as of June: Central Bank

ACLEDA Bank employees count US currency inside the bank in Phnom Penh on May 25, 2020. Photo by TANG CHHIN Sothy / AFP

PHNOM PENH -- Cambodia's international reserves had risen to 18.4 billion U.S. dollars as of June 2023, up 3.2 percent from 17.82 billion dollars at the end of 2022, said a report of the National Bank of Cambodia (NBC) on Monday.

International reserves under the NBC's control include foreign currencies, gold and SDR (Special Drawing Right).

"The international reserves can secure the imports of goods and services for the next seven months," said the NBC's report released at the end of the bank's biannual meeting.

Speaking at the meeting, NBC's director general Kimty Kormoly said the country's economy is predicted to grow by 5.6 percent in 2023, up from 5.2 percent in 2022, driven by exports of garment and non-garment manufacturing products, fast recovery in tourism, agriculture, and recovery in construction and real estate.

He said the kingdom's inflation rate had declined to 1.2 percent in the first half of this year from 4.1 percent in the second half of last year. 

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