NBR's International Reserves in February 2000
06.03.2000
Under the conditions of full servicing of the external public debt, the NBR’s foreign reserves totalled USD 1,565.2 million at end-February 2000.
The USD 128.7 million decline in foreign reserves at end-February compared to end-January was the result of the following factors:
- net purchases by the central bank from the forex market in amount of USD 109.3 million; inflows from selling foreign-exchange-denominated government securities on the domestic market, totalling USD 34 million;
- principal and interest payments falling due, worth USD 125.4 million related to foreign and domestic public debt, direct and bearing the sovereign guarantee of the Ministry of Finance;
- advance redemption of bonds issued by CONEL, worth USD 112.5 million;
- other net payments (change in foreign exchange reserve requirements met by commercial banks, interest on bank investments, surrender of foreign exchange to official reserves, bank fees and commissions a. o.), in amount of USD 34.1 million.
The gold stock stayed at 103.5 tons, but owing to developments in the price of gold on foreign markets, its value rose to USD 978.6 million, leaving the NBR’s foreign reserves (gold included) at over USD 2.5 billion.
By the end of the current year, the payments falling due related to foreign and domestic public debt, direct and bearing the sovereign guarantee of the Ministry of Finance will run at USD 1.1 billion, of which USD 306 million represent redemption of foreign exchange government securities issued on the domestic market, in amount of USD 306 million.
The National Bank of Romania is further striving to strengthen reserve assets and ensure timely repayment of the foreign public debt service.