Romania’s Central Bank’s reserves drop by EUR 1.7 bln in July

The Romanian Central Bank's currency reserves dropped in July to EUR 32.6 billion, down EUR 1.7 billion on the level recorded in June, according to the bank (BNR). The reserves' outputs amounted to over EUR 3 billion last month, while inflows amounted to EUR 1.37 billion. The main sources of inflows were the maintenance of Ministry of Finance’s accounts, changes in minimum currency reserves made by credit institutions, incomes from international reserve management, and others. The value of the 103.7 tonnes of gold reserves also increased by almost EUR 300 million, reaching EUR 3.76 billion. Overall, Romania's international reserves were EUR 36.4 billion at the end of July, down EUR 1.4 billion compared to June. BNR increased its EUR investment portfolio last year, from 63 percent to 66 percent of the total, while the share of investments in USD fell from 29 percent to 24 percent. Irina Popescu, irina.popescu@romania-insider.com