Circular No. 06/EMO/2021, of September 14 - Approval of the Mandatory Reserve Incidence Rate and Revocation of Circular No. 01/EMO/2020, of March 16

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Bank of Mozambique
Administration

MONETARY STABILITY DIVISION
CIRCULAR NO. 06/EMO/2021

Maputo, September 14, 2021

SUBJECT: APPROVAL OF THE MANDATORY RESERVE INCIDENCE RATE AND REVOCATION OF CIRCULAR NO. 01/EMO/2020, OF MARCH 16

Pursuant to Article 6 of the Regulation on the Calculation and Establishment of Mandatory Reserves, approved by Notice No. 8/GBM/2019, of June 17, the Bank of Mozambique sets:

1. The mandatory reserve coefficient, applicable to the national currency incidence base, at 10.50%.
2. The mandatory reserve coefficient, applicable to the foreign currency incidence base, at 11.50%.

This Circular enters into force from the mandatory reserve establishment period beginning on October 7, 2021, and revokes Circular No. 01/EMO/2020, of March 16.

Any doubts arising from the interpretation and application of this Circular must be submitted to the Markets and Reserve Management Department of the Bank of Mozambique.

BANK OF MOZAMBIQUE
Monetary Stability Division
Silvina de Abreu
Administrator