The Lebanese Central Bank’s balance sheet conveys some $91.08 million increase (0.64%) in BDL’s foreign assets portfolio during the first half of July 2023 to $14.40 billion (LBP 215.95 trillion), up from $14.31 billion (LBP 214.58 trillion) a fortnight earlier. When factoring out the portfolio of Lebanese Eurobonds held by the Central Bank amounting to $5.03 billion, the latter’s foreign currency reserves would settle at $9.37 billion (LBP 140.50 trillion). Similarly, the value of gold reserves at BDL rose by 1.67% ($295.48 million) in the first half of July to $18.04 billion (LBP 270.62 trillion) as gold prices increased amid expectations that the US Federal Reserve could suspend interest rate hikes.

On an annual basis, BDL’s foreign assets came in 4.74% ($0.72 billion) lower than the $15.11 billion reading reported at mid-July 2022. Conversely, the value of gold reserves settled 14.79% ($2.32 billion) higher when benchmarked to the $15.72 billion figure recorded in the same period in 2022.

In a related note, BDL’s balance sheet increased by 0.89% on a bi-weekly basis to LBP 1,581.00 trillion. This owes to the 0.64% increase in the value of foreign assets, coupled with the 1.67% rise in gold reserves and the 1.62% appreciation in the valuation adjustment account to LBP 644.04 trillion, altogether outweighing the 2.10% decrease in the value of other assets (representing capitalized open market operations and seigniorage) to LBP 100.42 trillion and the 0.16% drop in the value of the securities portfolio to LBP 65.86 trillion.

The share of BDL’s foreign assets of the latter’s total balance sheet stood at 13.66% as at mid-July 2023 while that of gold reserves, valuation adjustment, and loans to the public sector reached 17.12%, 40.74%, and 15.78% respectively.