NBR's International Reserves in May 2003
03.06.2003
At end-May 2003, NBR's foreign exchange reserves stood at EUR 5,280.7 million.
The EUR 481.3 million contraction in May 2003 resulted from the following operations:
- EUR 14.2 million worth of incomes from international reserve management;
- EUR 121.8 million worth of repayments and interest payments falling due on external public debt, direct and bearing the guarantee of the Ministry of Public Finance;
- EUR 133.8 million worth of net redemption of foreign exchange-denominated government securities launched by the Ministry for Public Finance on the domestic market;
- EUR 98.6 million sales by the NBR on the forex market; and
- EUR 141.3 million in other net outflows (changes in the foreign exchange required reserves set up by commercial banks, surrenders to official forex reserves, bank commissions, quotas, a. s. o.).
The gold stock held steady at 105.3 tons, and following the developments in the world price of gold, its value rose to EUR 1,045.5 million, sending the NBR's international reserves (gold included) to over EUR 6.32 billion.
Payments on external public debt, direct and bearing the guarantee of the Ministry of Public Finance, due by end-2003, amount to EUR 802 million.