Over the month, foreign currency reserves of the National Bank of Moldova increased by $ 80.68 million (+ 2.8%).

Over the month, foreign currency reserves of the National Bank of Moldova increased by $ 80.68 million (+ 2.8%).

According to the National Bank, from March 29 to April 26, its official foreign currency reserves increased from $ 2 billion 824.29 million to $ 2 billion 904.97 million. The increase in foreign currency reserves was influenced, in particular, by the NBM’s domestic interventions in the form of currency purchases ($ 57.46 million); Receipt by the Ministry of Finance of loans and grants for the implementation of investment projects ($ 49.87 million); income from managing foreign exchange reserves ($ 4.17 million); net revenues related to mandatory reserves of licensed banks in foreign currency ($ 4.12 million); net receipts in favor of the Directorate of Credit Line ($ 2.55 million); the Ministry of Finance received funds from the International Development Association to replenish the state budget ($ 0.9 million), other net revenues ($ 0.86 million). At the same time, during the reporting period, the decrease in reserves was due to the following factors: payments relating to the servicing of Moldova's external public debt ($ 15.91 million); a decrease in the exchange rate of the currencies that make up the foreign reserves against the US dollar ($ 11.59 million); payments of the Ministry of Finance ($ 11.54 million); revaluation of securities held in the investment portfolio ($ 0.21 million). It is worth noting that in April, official foreign currency reserves exceeded the $ 2.9 billion threshold for the first time since January 31, when they amounted to $ 2 billion 908.55 million. As InfoMarket reported earlier, the currency reserves of the National Bank at the end of February this year for the first time since mid-January last year, dropped below $ 2.8 billion, and then their decline from the beginning of 2019 exceeded growth for the whole of 2018. In particular, the currency reserves of the National Bank in 2018 increased by $ 191.93 million (+6.8 %), amounting to $ 2 billion 995.19 million at the end of last year. In 2018, the official reserve assets of the National Bank immediately exceeded two new maximum historical milestones - $ 2.9 billion and $ 3 billion. Herewith, the absolute record of the NBM currency reserves was registered on November 9, 2018, when they were $ 3 billion 049.82 million. However, in the second half of December 2018, the NBM currency reserves again fell below the level of $ 3 billion, at the beginning of February 2019 - below $ 2.9 billion, and at the end of February 2019 - below $ 2.8 billion. As of March 7, the NBM currency reserves amounted to $ 2 billion 776.83 million, which was the lowest figure since the end of December 2017. Thus, in mid-March foreign currency reserves of the National Bank again exceeded the threshold of $ 2.8 billion and continued to grow slowly, and once again exceeded $ 2.9 billion at the end of April. // 08.05.2019 - InfoMarket.

News on the subject