ECONOMY FINANCE&BANKING

National Bank’s forex reserves dwindle by 1.62pct in July 2017, to 34.6 billion euros

As of July 31, 2017, the National Bank of Romania’s (BNR’s) foreign exchange reserves stood at 34,636 million euros, compared with 35,208 million euros on June 30, 2017, according to a BNR press statement released on Tuesday.

Over the same month, 796 million euros were reported in inflows, representing changes in the foreign exchange reserve requirements of the credit institutions, inflows into the Ministry of Public Finance accounts, etc.

At the same time, 1,368 million euros were reported in outflows, representing changes in the foreign exchange reserve requirements of the credit institutions, interest and principal payments on foreign currency public debt, payments from the European Commission’s account, the impact of the euro appreciation against some of the currencies held within the foreign reserves (US dollar, British pound and Japanese yen), etc.

“The gold stock remained unchanged at 103.7 tonnes. However, following the change in the international price of gold, its value amounted to 3,602 million euros. The international reserves of Romania (foreign currencies and gold) on July 31, 2017 stood at 38,238 million euros, compared with 38,842 million euros on June 30, 2017,” according to BNR.

During the month of August 2017, payments due on public and publicly guaranteed foreign currency denominated debt amount to approximately 192 million euros.

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