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Romanian April Forex Reserves Up EUR 184M

The National Bank of Romania's foreign exchange reserves rose EUR184 million in April on the month to EUR25.341 billion, the bank said Friday in a statement.

The central bank said foreign exchange inflows rose EUR740 million in April, while outflows totaled EUR556 million.In addition to its foreign exchange reserves, the central bank reported steady holdings of 103.7 metric tons of gold, but as a result of the evolution of international prices, its value decreased to 1.859 bln euro, taking Romania's international reserve to 27.20 bln euro.The central bank reported total international reserves of more than EUR27.2 billion in April. The advance of 184 million euro registered in April 2008 was the result of inflows worth 740.98 million euro - standing for the change in the minimum foreign currency reserves established by credit institutions, the feed to the account of the Ministry of Economy and Finance and to the European Commission's account and others. According to BNR, the outflows of 556.98 million euro represented payments of instalments and interests due for the foreign direct public debt secured by the Ministry of Economy and Finance, payments to the European Commission, the change in the minimum foreign currency reserves set up by credit institutions and others.Romania, which has one of the lowest levels of foreign debt in Europe, needs to spend a total of EUR108 million in May on foreign debt servicing. In 2007, it paid EUR994 million to service foreign debt. Payments due in May 2008 on account of the foreign direct public debt or of the debt secured by the Ministry of Economy and Finance total 107.9 million euro. Sursa: http://www.actmedia.ro

Tags: million foreign reserves april euro bnr

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