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Covid-19: The BCEAO injects 3 670.9 billion FCFA

24/12/2020
Source : Journal du Mali.com
Categories: Index/Markets

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For its 36th open market operation since the first case of Covid-19 contamination appeared in the UEMOA region, the Central Bank of West African States (BCEAO) injected 3,670.9 billion CFA francs into the Union's interbank market on Monday, December 21. The tender was attended by 90 commercial banks, spread across all UEMOA member states. The operation was carried out at a fixed interest rate of 2% and will allow these banks to refinance themselves comfortably at the Central Bank's weekly refinancing window. The value date of the loans is December 22, 2020, and the maturity date is December 28. They were mainly requested by Ivorian commercial banks, to the tune of 1,292.8 billion CFA francs, followed by Senegalese banks (575.7 billion FCFA) and Malian banks (464.5 billion FCFA

).

Open market operations aim to provide the UMOA interbank market with liquidity in order to support economic activity. During the last operation, 3,460 billion CFA francs were injected

.
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