NBM currency reserve increases about US$95 mln in October

The currency reserve of the National Bank of Moldova made US$2.421 billion as of late October 2012, increasing US$94.75 million in a month.

According to NBM, the increase in the currency reserve was due to the loan of US$77 million received from the International Monetary Fund. At the same time, the growth of the currency reserve was due to the carried out interventions on the internal market, namely, to the purchase of currency equivalent to US$19.42 million; as well as due to a loan of US$6.77 million received from the International Development Association. At the same time, the exchange rates of currencies against the US dollar have increased, which triggered a growth of US$2.69 million. The profit earned from the foreign reserve management stood at US$2.01 million; whereas net cash returns at the instruction of the directorate of credit line under the Ministry of Finance accounted for US$0.14 million. The returns of the IMF under the six tranche of EFF brought revenues of US$0.11 million, whereas other earnings stood at US$0.34 million.

At the same time, the following factors led to a decrease in the currency reserves: payments for servicing Moldova’s foreign debt – US$9.09 million; net payments, on the mandatory banking reserves on freely convertible currency - US$3.06 million; foreign payments of the Ministry of Finance - US$1 million; reassessment of the governmental securities from investment portfolio - US$0.22 million and other foreign payments - US$0.36 million.

Adapted from Infotag