NBR’s international reserves fall by almost EUR 700 million

The National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 32,073 million at the end of March, decreasing by almost EUR 700 million against the same period of 2010.

During the month, EUR 759 million were inflows, representing changes in the foreign exchange reserve requirements of the credit institutions, inflows into the European Commission’s account, changes in the Ministry of Public Finances’ accounts, income from the management of foreign exchange reserves, a.s.o, according to NBR.

Outflows amounted to EUR 1,453 million representing changes in the foreign exchange reserve requirements of the credit institutions, interest and principal payments on public and publicly guaranteed external debt and as well as the depreciation of the U.S. dollar and pound sterling against the euro with impact on diminishing the market value of the share of foreign reserves denominated in these currencies.

According to the same source, the gold stock has held steady at 103.7 tones. However, following the change in the international price of gold, its value amounted to EUR 3,440 million. The international reserves of Romania (foreign currencies and gold) on April 30th 2011 stood at EUR 35,513 million, compared to EUR 36,123 million on March 31st 2011.

During the month of May 2011, the payments due on public and publicly guaranteed external debt amount to EUR 238.93 million.

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Simona Bazavan