NBR's International Reserves in July 2000
02.08.2000
The forex reserves of the NBR amounted to USD 2,174 million at end-July 2000.
The forex reserves grew by USD 267.2 million in July 2000 as a result of the following operations:
- net purchases by the central bank from the forex market in amount of USD 125.9 million;
- short-term deposits worth USD 100 million taken by the NBR;
- a USD 80 million loan from the World Bank;
- principal and interest payments falling due, worth USD 79.5 million, on foreign public debt, direct and bearing the sovereign guarantee of the Ministry of Finance;
- net inflows in amount of USD 13 million from the sale of government securities denominated in foreign exchange issued by the Ministry of Finance;
- other net inflows in amount of USD 27.8 million (change in foreign exchange reserve requirements met by commercial banks, interest on bank investments, surrender of foreign exchange to official reserves, fees and bank commissions).
The gold stock stood at 104.3 tonnes but, due to developments in the gold price on foreign markets, its value dropped to USD 930.3 million, leaving the NBR’s foreign reserves (gold included) at over USD 3.1 billion.
The payments on foreign public debt, direct and bearing the sovereign guarantee of the Ministry of Finance, falling due by the end of 2000 run at USD 374 million.
The National Bank of Romania is further striving to build up reserve assets and ensure timely repayment of the foreign public debt service.