Algeria's foreign exchange reserves growing $2.1 billion monthly
2006-10-08
Algeria's exchange reserves were estimated at more than $75 billion at the end of September, El Khabar reported Sunday (October 8th). The newspaper quotes banking experts as saying the growth rate of $2.1 billion monthly, due to a rise in oil prices, will lead to funds exceeding $80 billion by year's end. The price of Algerian oil is currently estimated to average $68.50 a barrel, the highest average rate ever after the price rise to $74.30 dollar a barrel during the third quarter. (El Khabar)
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