The Lebanese Central Bank’s balance sheet conveys some $36.54 million appreciation (0.26%) in BDL’s foreign assets portfolio during the second half of August 2023 to $13.88 billion (LBP 208.19 trillion), noting that this figure includes the face value of the Eurobonds portfolio held at BDL amounting to circa $5.21 billion. The liquid foreign reserve assets of the Central Bank, however, stood at $8.67 billion as at end of August 2023, up from $8.64 billion a fortnight earlier. Similarly, the value of gold reserves at BDL rose by 1.60% ($282.85 million) in the second half of August to $17.93 billion (LBP 268.96 trillion) as gold prices increased amid a larger than expected drop in the US consumer confidence index for the month of August.

On an annual basis, BDL’s foreign assets came in 5.88% ($0.87 billion) lower than the $14.75 billion reading reported at end of August 2022. Conversely, the value of gold reserves settled 12.10% ($1.94 billion) higher when benchmarked to the $15.99 billion figure recorded in the same period in 2022.

In a related note, BDL’s balance sheet widened by 0.50% on a bi-weekly basis to LBP 1,561.39 trillion. This owes to the 1.60% rise in the value of gold reserves, coupled with the 0.31% increase in the valuation adjustment account to LBP 631.26 trillion, the 0.99% rise in the value of other assets (representing capitalized open market operations and seigniorage) to LBP 103.02 trillion and the 0.26% rise in the value of foreign assets, altogether outweighing the 0.03% decrease in the value of the securities portfolio to LBP 66.48 trillion.

The share of BDL’s foreign assets of the latter’s total balance sheet stood at 13.33% as at end of August 2023 while that of gold reserves, valuation adjustment, and loans to the public sector reached 17.23%, 40.43%, and 15.96% respectively.