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Romania’s Forex Reserves Hit Record High At EUR27.33B In July

Romania's foreign-exchange reserves rose EUR860 million on the month in July to a record high of EUR27.326 billion, following loans taken by the Finance Ministry, the central bank said in a statement Monday.
Romania’s Forex Reserves Hit Record High At EUR27.33B In July
03 aug. 2009, 15:43, English

End-June, foreign-exchange reserves stood at EUR26.466 billion.

The previous record high of foreign-exchange reserves, of EUR27.318 billion, was in October last year.

The central bank said foreign-exchange inflows stood at EUR4.243 billion in July, including some loans taken by the Finance Ministry.

Late July, Romania received the first tranche of EUR1.5 billion from a total EUR5 billion balance-of-payments loan from the European Commission. In addition, the Finance Ministry borrowed around EUR1.2 billion from Romanian lenders, which added to the forex reserve.

The central bank said outflows reached EUR3.383 billion in July.

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 EUR2.214 billion.

Total Romanian international reserves amounted to EUR29.54 billion at the end of July.

In August, the payments due on public and publicly guaranteed external debt amount to EUR85 million.