NBR's International Reserves in June 2000
03.07.2000
The strengthening of forex reserves of the NBR continued in June, amounting to USD 1,906.8 million at the end of the month.
The forex reserves rose by USD 284.6 million as a result of the following operations:
- borrowings worth USD 385.9 million from the European Union, the International Monetary Fund and the World Bank;
- principal and interest payments falling due, worth USD 52.1 million, on foreign public debt, direct and bearing the sovereign guarantee of the Ministry of Finance;
- repayments of short-term loans (including interests due), worth USD 180.9 million, taken by the NBR;
- reverse repo transactions with foreign-exchange-denominated government securities issued by the Ministry of Finance worth USD 70.7 million;
- net purchases by the central bank from the forex market in amount of USD 20.9 million;
- other net inflows in amount of USD 40.1 million (change in foreign exchange required reserves set up by commercial banks, interest on investments, surrender of foreign exchange to official reserves, fees and bank commissions a.s.o.).
The gold stock edged up to 104.2 tons and owing to developments in the gold price on foreign markets, its value increased to USD 968.7 million, taking the NBR's international reserves (gold included) to almost USD 2.9 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 the service of its foreign public debt on time.