IMF DISBURSES SECOND TRANCHE OF STAND-BY LOAN New historical high for Romania"s forex reserves

Romania"s forex reserves reached a new historic high, 28.33 billion Euros, at the end of September, as Romania cashed in the second tranche of the IMF standby-agreement, according to a press release by the National Bank. Romania"s forex reserves stood at 27.743 billion Euros.

According to the NBR, September inflows amounted to 2.57 billion Euros. Apart from the IMF funds, the amount comes from changes in the foreign exchange reserve requirements of the credit institutions, the increase of Romania"s share of the allocation of SDRs made by the IMF, inflows in the Ministry of Public Finances" accounts, income from the management of foreign exchange reserves, etc.

Last month the NBR had 1.981 billion Euros in outflows. The amount represents changes in the foreign exchange reserve requirements of the credit institutions, interest and principal payments on public and publicly guaranteed external debt, payments from the European Commission"s account held at NBR, the impact of the US dollar depreciation versus euro, amplified by the USD"s share in the foreign exchange reserves, a.s.o..

The gold stock has held steady at 103.7 tons. However, following the change in the international price of gold, its value amounted to EUR 2,276 billion.

Romania"s international reserves (foreign currencies and gold) on September 30th, 2009 stood at EUR 30,615 billion, compared to EUR 29,950 billion on August 31st, 2009.During the month of October 2009, the payments due in October 2009, on public and publicly guaranteed foreign debt amount to EUR 87 million, the press release by the NBR says.