Romania's foreign exchange reserves held by Romania's National Bank (BNR) stood at EUR 33.39 billion at the end of November, some EUR 402 million less than one month earlier.

The main driver that pushed the reserves down in the month was the one percentage point decrease in the mandatory reserve requirements for foreign currency liabilities, from 6% to 5%.

Separately, the EUR 2.5 bln Eurobonds launched by the Government at the end of November have not reached BNR's vaults yet.

Thus, during November, BNR received EUR 1.14 bln while the outflows amounted to EUR 1.54 bln, including the change in the required reserves resulting from the lower minimum required reserve ratio applicable to foreign currency liabilities.

The level of the gold reserve remained at 103.6 tons.

Given the evolutions of international prices, its value stood at EUR 5.05 bln.

Payments due in December 2020 on account of public debt denominated in foreign currency, direct or guaranteed by the Finance Ministry, amount to about EUR 204 million.

(Photo: Maximusnd/ Dreamstime)

andrei@romania-insider.com