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Currency reserves - Romania's foreign currency reserves slip 5th month in a row to EUR 25.1bn

Romania's international foreign currency reserves, managed by the central bank, lost 3.07 percent in March over February, or 796 million euros, to 25.121 billion euros, owing to the evolution of the single European currency against the American dollar and the pound.

This is the fifth consecutive month when foreign currency reserves report a drop, after peaking at 27.318 billion euro in October 2008.

The reserves lowered to 27.228 billion euros in November and then further down to 26.220 billion euros in December, 26.009 billion euros in January and 25.917 billion euros in February. The central lender BNR declared that 65 percent of the foreign currency reserves represent assets denominated in euros, 27.5 percent are in U.S. dollars, 7 percent in pounds and 0.5 percent in other currencies.

"The appreciation of the euro against the American dollar and the pound in March led to a diminishing value of the components in dollars and pounds with the equivalent of 422 million euros," the BNR release reads. Inflows totaled 3.519 billion euros, stemming from the modification of the bank's minimum mandatory foreign currency reserves, from administering international reserves, as well as operations on the interbank market. Outflows reached 4.315 billion euros and were generated by the change of the minimum foreign currency reserves required by credit institutions, installments and interest payments and from fueling the European Commission's account.

The gold reserve idled at 103.7 tons, but fell to 2.305 billion euros following the evolution of international prices, from 2.484 billion euros in the previous month. Romania's international reserves of gold and foreign currency dropped in March by almost one billion euros to 27.426 billion euros from 28.401 billion euros at the end of February.

 

Sursa: http://www.actmedia.eu

Tags: euros reserves currency billion foreign month percent romanias bnr euro

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