Romania's foreign currency reserves climb by EUR 1.5 billion in September

The Romanian Central Bank's (BNR) foreign currency reserves rose in September by slightly under EUR 1.5 billion. At the beginning of the month, foreign currency reserves were just shy of EUR 31 billion, while on September 31 the new total was nearly EUR 32.5 billion.

The BNR recorded inflows of nearly EUR 2.9 billion during September, accounted for by changes in reserve requirements demanded by credit institutions, sale of government bonds and earnings from the management of foreign reserves. Outflows amounted to just over EUR 1.4 billion and included payments to service the country's debt and from the European Commission’s account. Romania's gold stock held steady at 103.7 tonnes, but its value changed due to fluctuations in gold price. The gold stock valued over EUR 4.5 billion at the end of September, which put the total gold and foreign currency reserves at some EUR 37 billion, up from EUR 35.3 billion at the beginning of the month. Payments due in October on public debt amount to EUR 122.3 million, according to the BNR. Liam Lever, liam@romania-insider.com