Romania’s forex reserves rose in October by almost EUR 1 bln on eurobond issue

The foreign exchange reserves of the National Bank of Romania (BNR) rose in October for the second month in a row, by EUR 948 million up to EUR 32.37 billion, following the EUR 1.75 billion Eurobond issue of the Finance Ministry.

The foreign exchange reserves declined by EUR 4 billion between February and August 2018.

At the end of February 2018, Romania’s foreign exchange reserves amounted EUR 35.07 billion but their value has dropped each month until September.

According to the BNR, there were inflows of EUR 2.723 billion in October representing changes in credit institutions’ forex required reserves, inflows into the Finance Ministry’s accounts (including the amount resulted from the Eurobond issue) and other.

In the same time, outflows amounted EUR 1.775 billion last month, representing changes in credit institutions’ forex required reserves, interest payments and principal repayments on foreign currency public debt and other external obligations in foreign currencies (EUR 939 million), and other.

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

In November 2018, the payments due on the forex public and publicly guaranteed debt amount to EUR 151 million.