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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s forex reserves shrink in September after Eurobond repayment

The foreign exchange reserves held by Romania's National Bank (BNR) went down to EUR 32.6 billion at the end of September, from EUR 35.8 bln at the end of August.

The EUR 3.2 bln drop was mainly due to the repayment of EUR 2.1 bln Eurobonds issued by the Government in 2013 that matured last month.

According to BNR, the total outflows reached EUR 3.84 bln in September, including EUR 2.17 bln payments related to the public debt service.

The level of the gold reserve remained at 103.6 tons.

Given the evolutions of international prices, its value stood at EUR 5.36 bln.

In total, Romania's international reserves (currencies plus gold) were EUR 38.0 bln, down from EUR 41.3 bln on August 31, 2020.

At end-July 2020 (latest data available), the foreign exchange reserves covered 81.4% of the short-term external debt by remaining maturity, compared to 73.8% at end-2019.

The international reserves also covered 5.9 months of imports at end-July 2020, compared to 4.6 months at end-2019.

(Photo: Maximusnd/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s forex reserves shrink in September after Eurobond repayment

The foreign exchange reserves held by Romania's National Bank (BNR) went down to EUR 32.6 billion at the end of September, from EUR 35.8 bln at the end of August.

The EUR 3.2 bln drop was mainly due to the repayment of EUR 2.1 bln Eurobonds issued by the Government in 2013 that matured last month.

According to BNR, the total outflows reached EUR 3.84 bln in September, including EUR 2.17 bln payments related to the public debt service.

The level of the gold reserve remained at 103.6 tons.

Given the evolutions of international prices, its value stood at EUR 5.36 bln.

In total, Romania's international reserves (currencies plus gold) were EUR 38.0 bln, down from EUR 41.3 bln on August 31, 2020.

At end-July 2020 (latest data available), the foreign exchange reserves covered 81.4% of the short-term external debt by remaining maturity, compared to 73.8% at end-2019.

The international reserves also covered 5.9 months of imports at end-July 2020, compared to 4.6 months at end-2019.

(Photo: Maximusnd/ Dreamstime)

[email protected]

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