Romania's Central Bank foreign currency reserves up in April, but gold price drop results in overall fall

Romania’s Central Bank’s (BNR) foreign exchange reserves have risen from EUR 32.2 billion at the end of March to just over EUR 32.4 billion on April 30 this year. During April, BNR registered EUR 924 million inflows. This was due in part to changes in the foreign exchange reserve requirements of credit institutions and inflows to the Ministry of Finance and European Commission accounts. The EUR 721 million outflows included interest and principal payments on foreign currency public debt. Romania’s gold stock was unchanged from the end of 2012 – 103.7 tonnes. However, its value has dropped considerably since January this year to some EUR 3.76 billion due to changes in gold prices. The total value of foreign exchange reserves and gold stock was just under EUR 36.2 billion on April 30, down from nearly EUR 36.4 billion at the end of March, due to the drop in gold price. During May, EUR 1.17 billion is due in payments on public and publicly guaranteed foreign currency denominated debt. editor@romania-insider.com