Romania's Forex Reserves Reach An All-Time High

According to the National Bank of Romania (BNR) data, Romania’s foreign exchange reserves rose EUR1.7 billion in February reaching an all-time high of EUR29.739 billion. This evolution was fueled by two tranches from the International Monetary Fund.

 

The central bank said foreign exchange inflows stood at EUR3 billion in February, mostly from the third and fourth tranches of the stand-by agreement. Last month, Romania received EUR2.45 billion of the total EUR13 billion loan, half of the sum going to the BNR reserve. Outflows from reserves totaled EUR1.3 billion in February.

 

In addition to its foreign exchange reserves, the central bank reported holdings of 103.7 metric tons of gold with a total market value of EUR2.726 billion. Therefore, Romania's overall international reserves amounted to EUR32.465 billion in February, compared with EUR30.623 billion at the end of January.