NBR forex reserves down 3.8 percent to EUR 30.9 bln in August

Newsroom 04/09/2012 | 09:48

The National Bank of Romania‘s (NBR) foreign exchange (forex) reserves stood at EUR 30.9 billion in August, falling by 3.8 percent from the previous month, after the country paid the first installment of an IMF loan.

Romania registered capital inflows of EUR 1.1 billion, which represent changes in forex requirements of credit institutions, income from forex management and inflows in the accounts of the European Commission and the Ministry of Public Finance.

The outflows amounted to EUR 2.3 billion and accounted for payments of interest and principal of foreign currency public debt, including a EUR 728.2 million payment of an IMF stand-by agreement worth some EUR 13 billion. Changes in forex requirements of credit institutions also contributed in this section.

NBR data shows that payment due on public and publicly guaranteed foreign currency denominated debt amounted to EUR 132.2 million.

The gold stock remains stable at 103.7 tones and its value hovered around EUR 4.4 billion.

The international reserves of Romania, including foreign currencies and gold, decreased last month by 3.4 percent to EUR 35.3 billion.

Ovidiu Posirca

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