UK Foreign Currency Reserves Rise in June
The United Kingdom’s (UK) gross international reserves rose to $184.50 billion in June from $183.32 billion in May, data from the Bank of England showed Wednesday.
The latest reading consists of $102 billion in foreign currency reserves and $7.26 billion in International Monetary Fund reserve position, along with special drawing rights worth $40.90 billion, $19.11 billion in gold, and $15.24 billion in other reserve assets.
As part of the monetary policy framework introduced by the Chancellor of the Exchequer in 1997, the Bank of England holds its own foreign exchange reserves in support of its monetary policy objective. T
These reserves are separate from the Government’s own foreign exchange reserves, which the Bank manages as the Treasury’s agent. #UK Foreign Currency Reserves Rise in June Nigerian Treasury Bills Yield Rises to 7%