NBR's foreign currency reserve drops to 18,177bn euros

Foreign currency reserves of the National Bank of Romania continued to drop in June following payments made on the foreign debt, reaching 18.177 billion euros. This figure is 35.7% lower in euros than that after the first five months, according to data published yesterday by the central bank. In May, reserves went down by 80.3 million euros, to 18.21 billion euros. The NBR says in a release that outflows from the reserve totalled 418.7 million euros, as payments on the foreign debt, sums meant to modify minimum foreign currency reserves set up by commercial banks and other sums, without specifying the value of each individual part. At the end of May due payments on the direct public foreign debt, guaranteed by the Public Finance Ministry totalled 674 million euros. When comparing this to the 434 million euros recorded at the end of June, the central bank paid 240 million euros for foreign debt instalments and interests. Inflows totalled 383 million euros and came from the administration of the international reserve, the modification of minimum foreign currency reserves set up by commercial banks, as well as foreign currency transfers to the state reserve.