The foreign currency reserves held by Romania’s National Bank (BNR) increased by EUR 325 million (0.9%) in February to EUR 35.83 billion at the end of the month, the central bank announced.

In the last 12 months, the central bank’s reserves increased by 10% (EUR 3.34 bln) - more or less in line with the nominal GDP and faster than the volume of imports of goods and services (which advanced by 6.6% year-on-year in 2019, latest data available).

BNR’s reserves increased more significantly in January, by EUR 2.58 bln, amid the EUR 3 bln Eurobond issue.

As regards Romania’s international reserves position, the gold stock remained steady at 103.6 tonnes therefore the international reserves (foreign currencies and gold) stood at EUR 40.75 bln, compared to EUR 40.28 bln at the end of January 2020.

(Photo: Shutterstock)

editor@romania-insider.com