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Monday, 26 June 2017

Oil exporters face fall in foreign exchange reserves

Oil exporters face fall in foreign exchange reserves:

"The foreign exchange reserves of big oil exporting nations have fallen to their lowest level for a decade as weak energy prices force many countries to raid their stockpiles. The decline in reserves highlights the waning clout of some of the world’s leading petro states and how little time they have to diversify their economies before their cash cushions disappear. At the end of 2016, 13 big energy exporters had combined reserves of $967bn, according to data from the International Monetary Fund, well below the peak of $1.26tn at the end of 2013 and the lowest figure since 2006."



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