Romania’s international reserves at 28.269 bln euros on Dec. 31, 2008

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On Dec. 31, 2008, Romania's international reserves totaled 28.269 bln euros, the National Bank of Romania (BNR) announced on Monday (Jan 5).
"The central bank's forex reserves stood at 26,220 million euros, compared to 27.228 million euros registered on Nov. 30, 2008 and 25,307 million euros on Dec. 31, 2007," reads the BNR release.
 
The decrease in the registered figure from Nov. 30, 2008 to the end of December was mainly the result of the evolution of the euro against the US dollar and the pound sterling in the respective period. To an extent of 63%, the forex reserves of the National Bank of Romania are made up of assets denominated in euro, the US dollar (32.55 pct), the pound sterling (4%) and other currencies (0.45%).
 
The appreciation of the euro against the greenback and the pound sterling resulted in the decrease by the equivalent of 974 million euros in the value of the dollar – and pound sterling – component of the reserve forex reserve.
Inflows stood at 1.588 bln euros, representing the change in the minimum required foreign currency reserves established by credit institutions, the feed to the account of the Ministry of Economy and Finance, revenues from the management of international reserves, interbank operations, other.
 
Outflows totaled 2.596 bln euros (including 974 million euros from the aforementioned exchange rate difference), representing changes in the minimum foreign currency reserves established by credit institutions, payments from the European Commission's account, payments of installments and interests due for the foreign direct public state-secured debt.
The gold reserve kept steady at 103.7 tons, priced in the current international context at 2.049 bln euros.
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