Romania’s foreign currency reserves went down by EUR 1.74 billion in April 2014, to EUR 30.68 billion, which is the lowest level since August 2010, according to official data released by Romania’s National Bank (BNR).

Total outflows in April topped EUR 3 billion, representing changes in the foreign exchange reserve requirements of the credit institutions, interest and principal payments on foreign currency public debt, payments from the European Commission's account. Some of the largest payments were the repayment of some EUR 941 million principal instalments on Romania’s loan from the International Monetary Fund (IMF) as well as the repayment of the principal and interest of the euro denominated bond issued by the Ministry of Public Finances that matured on May 6, 2014, totaling EUR 1.34 billion.

Total inflows in April were EUR 1.25 billion, representing changes in the foreign exchange reserve requirements of the credit institutions, inflows into the Finance Ministry’s accounts and others.
The gold stock remained unchanged at 103.7 tons. However, following the change in the international price of gold, its value went down by EUR 45 million, to EUR 3.07 billion.

The international reserves of Romania, both foreign currencies and gold, on May 31, 2014 stood at EUR 33.75 billion, compared to EUR 35.56 billion end-April.

In June 2014, the payments due on public and publicly guaranteed foreign currency denominated debt amount to approximately EUR 667 million.

Andrei Chirileasa, andrei@romania-insider.com