Romania’s forex reserves down 4.1 pct in June to EUR 31.8 bln on public debt repayment

Sorin Melenciuc 02/07/2018 | 14:06

The foreign exchange reserves of the National Bank of Romania (BNR) declined for the fourth month in a row in June, by 4.1 percent month-on-month to EUR 31.766 billion, due mainly to interest payments and principal repayments on foreign currency public debt, according to a central bank press release.

The central bank said that during the month EUR 2.495 billion worth of inflows were recorded, representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts, including the net amount of USD 950 million resulting from the issuance and the partial early redemption of some USD-denominated Eurobonds by the Ministry of Finance, and other.

The outflows reached EUR 3.852 billion, representing changes in credit institutions’ foreign currency-denominated required reserves, interest payments and principal repayments on foreign currency public debt, including the repayment of the principal and interest payments on the Ministry of Finance’s EUR-denominated bond issue totalling EUR 1.6 billion, and other.

The gold stock remained unchanged at 103.7 tonnes, but its value declined to EUR 3.58 billon, according to the BNR.

During July 2018, the payments due on the foreign currency-denominated public and publicly guaranteed debt amount to EUR 115 million.

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