Key data points
Last release
—
Observation period
May 2024
Next release
—
Forecast
—
Highest
13.00% on May 31, 2024
Lowest
10.00% on Jun 30, 2022
About Seychelles Cash Reserve Ratio
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.