Foreign currency reserves of the National Bank of Moldova in 2023 increased by $978.97 million (+21.9%) and reached a new historical maximum of $5 billion 453.14 million on December 29.
The previous absolute record of foreign currency reserves of the NBM was registered on December 15, 2023, when they amounted to $5 billion 366.25 million. Analysis of the monthly dynamics of changes in foreign currency reserves of the National Bank of Moldova shows that in January 2023 they increased, compared to the previous month, by $128.53 million - to $4 billion 602.7 million, in February - decreased by $60.68 million - to $4 billion 542.02 million, in March - increased by $137.33 million - to $4 billion 679.35 million, in April - increased by $173.47 million - to $4 billion 852.82 million, in May - increased by $15.45 million - to $4 billion 868.27 million, in June - increased by $34.4 million - to $4 billion 902, 67 million, in July 2023 - increased by $124.58 million - to $5 billion 027.25 million, in August - decreased by $209.28 million - to $4 billion 817.97 million, in September - increased by $63.96 million - to $4 billion 881.93 million, in October - increased by $198.40 million - to $5 billion 080.33 million, in November - increased by $79.38 million - to $5 billion 159.71 million, and in December 2023 - increased by $293.43 million - to $5 billion 453.14 million. Thus, last year, the NBM foreign currency reserves increased the most in December, compared to the previous month. According to the National Bank, in December 2023, the following factors contributed to the increase in the official reserve assets of the NBM: receipt of loans in favor of the Ministry of Finance of Moldova ECF (Extended Credit Facility) and EFF (Extended Fund Facility) within the VI tranche provided by the IMF - $94.17 million; receipt in favor of the Ministry of Finance of gratuitous budgetary support in the amount of $75.73 million (equivalent to 70 million euros), allocated by the European Commission on behalf of the EU, intended for the Energy Vulnerability Reduction Fund; receiving budget support in favor of the Ministry of Finance - $43.14 million (equivalent to 40 million euros) in the form of a loan from the French Development Agency for the development of the energy sector; receipt of other types of revenues to the budget support accounts in favor of the Ministry of Finance: $1.06 million; increase in exchange rates of currencies included in foreign currency reserves against the US dollar: $23.44 million; net proceeds related to required reserves of licensed banks in foreign currency: $20.75 million; profit from managing foreign currency reserves: $18.84 million; revaluation of investment portfolio securities: 13.34 million; interventions in the domestic foreign currency market in the form of foreign currency purchases: $12.8 million; obtaining loans and grants in favor of the Ministry of Finance for investment projects: $11.10 million; net proceeds to the Office of Foreign Assistance Program Management: $4.82 million; other net receipts: $0.15 million. At the same time, during the reporting period, the decrease in official reserve assets was influenced by the following factors: payments related to servicing external public debt: $19.51 million; payments by the Ministry of Finance: $6.4 million. As follows from the data of the National Bank, as of December 29, 2023, the foreign currency reserves of the NBM amounted to $5 billion 453.14 million (a year earlier - $4 billion 474.17 million), while the reserve assets of the NBM are in securities amounted to $4 billion 297.22 million (at the end of 2022 - $2 billion 695.05 million), the total amount of deposits amounted to $1 billion 139.28 million (at the end of 2022 - $1 billion 773.82 million). Herewith, deposits placed in other central banks, the Bank for International Settlements and the IMF amounted to $612.7 million (at the end of 2022 - $945.29 million), in banks with head offices outside of Moldova - $526.58 million (at the end of 2022 - $828.53 million). Gold reserves were estimated at $4.91 million (at the end of 2022 - $4.29 million). As previously reported by the InfoMarket agency, in general, in 2022, the foreign currency reserves of the National Bank of Moldova increased by $572.29 million (+14.7%), reaching $4 billion 474.17 million as of December 30, 2022 against $3 billion 901.88 million as of December 31, 2021 // 09.01.2024 — InfoMarket
