National Bank of Romania

Romania’s forex reserves go up by 6.68% in August

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The National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 41.616 million at the end of August, compared to EUR 39.008 million at the end of July, the central bank said on Wednesday (Sept.1).

During the month, EUR 3.343 million worth of inflows were registered representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the Ministry of Finance’s accounts; the crediting of Romania’s SDR account following the IMF’s new general allocation (with the quota of SDR 1.736 million, equivalent to approximately EUR 2.100 million) on 23 August 2021; inflows into the European Commission’s account and other.

Furthermore, EUR 735 million worth of outflows were recorded representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; interest payments and principal repayments on foreign currency public debt and other.

The level of gold reserves remained steady at 103.6 tonnes. However, following the change in the international price of gold, its value amounted to EUR 5,114 million.

Romania’s international reserves (foreign currencies and gold) stood at EUR 46.730 million on August 31, 2021, compared to EUR 4.,130 million in July 2021.

The payments due in September 2021 on the foreign currency-denominated public and publicly guaranteed debt amount to approximately EUR 74 million, BNR said.

Meanwhile, gold, oil, natural gas, soy, coffee and sugar were the goods most transacted by Romanians in 2021, according to global broker XTB. Romanian investors’ choices focused on raw materials that benefited from favorable dynamics this year,  the broker said. This shows that their preferences are based on identifying on the spot opportunities with potential to offer positive results on a short and medium term, it added.

The Romanian leu plunged to a new all-time low against the euro on Thursday (September 2), as the BNR average reference rate stood at 4.9386 lei to the European currency.