Romanian March Forex Reserves Hit Record High Of EUR32B

End-February, hard currency reserves were at EUR29.7 billion.

Foreign exchange inflows stood at EUR3 billion in March, while outflows totaled just EUR700 million, the central bank said Thursday.

Mid-March, Romania received a second EUR1 billion installment from the European Commission, part of a larger EUR5 billion loan Romania secured in 2009 to cope with the recession.

In addition, the Finance Ministry raised EUR1 billion via a five-year Eurobond placed on international markets.

Holdings of gold were steady at 103.7 metric tons, but their value, adjusted for the international gold price, rose to EUR2.74 billion from EUR2.72 billion a month earlier, the bank said.

As a result Romania’s overall international reserves amounted to EUR34.78 billion in March, compared with EUR32.46 billion a month earlier.

The payments due on public and publicly guaranteed external debt in April amount to EUR113 million, according to the central bank.