Cash Reserve Ratio in Seychelles remained unchanged at 13 percent in June from 13 percent in May of 2020.

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Seychelles Minimum Reserve Requirement

Actual Previous Highest Lowest Dates Unit Frequency
13.00 13.00 13.00 13.00 2018 - 2020 percent Monthly

Seychelles Money Last Previous Highest Lowest Unit
Interest Rate 3.00 3.00 5.50 3.00 percent [+]
Banks Balance Sheet 27704.42 27548.43 27992.61 4818.90 SCR Million [+]
Deposit Interest Rate 3.58 3.29 10.00 2.08 percent [+]
Lending Rate 11.60 11.74 16.36 10.49 percent [+]
Loans To Private Sector 3000.00 2961.00 3000.00 1452.50 SCR Million [+]
Money Supply M1 5954.00 5834.00 5954.00 1179.90 SCR Million [+]
Money Supply M2 12339.60 12343.40 12343.40 3712.78 SCR Million [+]
Money Supply M3 21665.80 21877.00 21877.00 4347.58 SCR Million [+]
Foreign Exchange Reserves 566.94 585.79 609.64 1.06 USD Million [+]
Cash Reserve Ratio 13.00 13.00 13.00 13.00 percent [+]
Central Bank Balance Sheet 12328.13 12260.83 12535.51 989.49 SCR Million [+]

Seychelles Minimum Reserve Requirement
The Minimum Reserve Requirement (MRR) is a monetary policy instrument used by some Monetary Authorities or Central Banks to directly influence money supply, and hence manage liquidity in the banking system. The MRR ratio stipulates the percentage of deposit liabilities that financial institutions under its supervision, namely commercial banks, are required to hold as cash with the Central Bank. The MRR has been an integral part of the Central Bank of Seychelles’ range of monetary policy instruments since its inception in 1981. The system has evolved from its accommodative role with respect to the predominant fiscal policy to an important monetary policy instrument. The ratio has changed several times within a range of 2.5% and 20%. Currently, it stands at 13% and the liable deposits are inclusive of foreign currency deposits of residents.