Tuesday, June 2, 2009

Romania cbank reserves up at 26.85 bln euros

BUCHAREST, June 1 (Reuters) - The Romanian central bank's (BNR) foreign exchange reserves, excluding 103.7 tonnes of gold, surged 1.96 billion euros to 26.85 billion euros ($37.57 billion) in May, central bank data showed on Monday.

Inflows stood at 6.29 billion euros, the bulk of which come from a first tranche of a 20 billion euros IMF-led loan Romania secured earlier this year.

Changes in the reserve requirements of credit institutions, fuelling the European Commission's account held at the BNR and transactions on the interbank market also added to inflows.

Outflows totalled 4.32 billion euros, reflecting changes in the reserve requirements and payments from the European Commission account, interbank transactions and payments to service Romania's public external debt.

Outflows were boosted by the impact of a weaker dollar to the euro, exacerbated by the currency structure of the IMF tranche, where the dollar accounts for over 60 percent.

Payments due to service external public and publicly guaranteed debt totalled 146 million euros.

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