Romania's gold and foreign currency reserve inches 0.4% in November, despite less foreign currencies

Publish date: 03-12-2008
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Romania's gold and foreign currency reserve advanced 0.4 percent in November to 29.34 billion euros, following increase in the value of the gold reserve which compensated for the decline seen in the foreign currency one, a release from the central bank (BNR) reads.

Foreign currency reserve lost 90 million lei in November, to 27.22 billion euros, on smaller inflows than outflows.

Inflows totaled 1.62 billion euros, stemming from the modification of the bank's minimum mandatory foreign currency reserves, from administering international reserves, as well as operations on the interbank market.

Outflows reached 1.709 billion euros and were generated by the change of the minimum foreign currency reserves required by credit institutions, installments and interest payments and from fueling the European Commission's account.

The gold reserve idled at 103.7 tons, but appreciated to 2.1 billion euros following the evolution of international prices, up 200 million euros compared to the previous month.

Romania's international reserves of gold and foreign currency stood at 29.34 billion euros on November 30, from 29.22 billion euros on October 31.


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