NBR's International Reserves - May 2009
01.06.2009
On May 31st, 2009 foreign exchange reserves of the National Bank of Romania stood at EUR 26,852 million, compared to EUR 24,886 million on April 30th, 2009.
During the month there have been the following transactions:
-
EUR 6,288 million worth of inflows representing the first tranche of the stand-by agreement with the IMF (4.37 billion SDR), change in the foreign-exchange reserve requirements of credit institutions, inflows in the European Commission's account held at NBR, income from the management of foreign reserves, transactions in the interbank market, a.s.o.;
-
EUR 4,322 million worth of outflows consisting in the change in foreign-exchange reserve requirements of credit institutions following the NBR's decision to cut to zero the MRR rate for liabilities having a residual maturity longer than 2 years, the impact of the US dollar depreciation, amplified by the high share of US dollar within the tranche received from the IMF (over 60%), the maturing foreign exchange swap transactions used previously in order to partially cover the liquidity deficit on the interbank market, payments from the account of the European Commission, principal repayments and interest payments on public and publicly guaranteed external debt, other transactions.
The gold stock held steady at 103.7 tonnes. However, following the change in the international price of gold, its value amounted to EUR 2,309 million.
The international reserves of Romania (foreign currencies and gold) on May 31st, 2009 stood at EUR 29,161 million, compared to 27,113 on April 30th, 2009.
During the month of June 2009, the payments due on public and publicly guaranteed external debt amount to EUR 146 million.