The report shows that in US dollar and SDR terms, Botswana's foreign exchange reserves decreased by US$15.2 million and SDR134.6 million from US$10.2 billion and SDR6 368.3 million in February 2008 to US$10.2 billion and SDR6 233.7 million in March. "After allowing for unrealised valuation changes in the foreign reserves, the balance of payments was in overall surplus by P7, 401.3 million during the first quarter of 2008," the report said.
The decline in the foreign exchange reserves in US$ terms was due to the exchange rate movements as the greenback appreciated during that period. At the same time, net foreign assets rose by P2.9 billion (4.4 percent) from P66.9 billion in February to P69.8 billion in March, resulting from an increase of P2.7 billion (4.0 percent) in claims on non-residents against a decrease of P157.5 million (6.4 percent) in liabilities to non-residents.
Claims on non-residents by the Bank of Botswana increased by P2.006 billion (3.1 percent) against a decrease of P0.2 million (0.04 percent) in the Bank's liabilities to non-residents. Claims on non-residents by other depository corporations rose by P754.8 million (19.1 percent) compared to a decrease of P157.1 million (8.1 percent) in their liabilities to non-residents.
