The foreign exchange reserves held by Romania’s National Bank (BNR) stood at EUR 30.9 billion at the end of July 2014, down EUR 328 million compared to the end of June.

This decline was mainly due to the cut in the minimum reserve requirement ratio on foreign currency-denominated liabilities of credit institutions, to 16 percent from 18 percent starting the end of July.

BNR recorded EUR 746 million inflows and EUR 1 billion outflows in July. The gold stock remained unchanged at 103.7 tons. Its value at the end of July amounted to EUR 3.2 billion.

editor@romania-insider.com 

(photo credits Romania-Insider.com)