March 25, 2010 / 1:26 PM / 10 years ago

Algeria's FX reserves up 4 pct to $149 bln in 2009

ALGIERS (Reuters) - OPEC member Algeria’s foreign exchange reserves rose 4 percent to $148.9 billion at the end of 2009 versus the previous year, the country’s central bank governor said on Thursday.

Reserves covered 36 months of imports of goods and services last year, up from 35 months in 2008 when reserves stood at $143.1 billion, Mohamed Laksaci was quoted by the official news agency APS as adding.

The country’s foreign currency holdings at the end of 2009 were 42 percent in the U.S. dollar, 36 percent in the euro and 22 percent in other currencies, he said after a meeting with top bank managers.

Oil and gas sales abroad accounts for 97 percent of Algeria’s total exports.

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