Official reserve assets reach new historical record in Moldova

Chisinau, 14 July /MOLDPRES/ - The official reserve assets have reached a new historical record, 2.923 billion dollars, according to the data provided by the National Bank of Moldova (BNM) on 13 July. The currency reserves increased by 113 million dollars against late last year.     

According to BNM, most official reserve assets, respectively 1 billion 579.7 million dollars, are kept in movables and 1.315 billion represent liquid assets and placements on term.  

The previous record of 2.903 billion dollars was reached on 31 January 2018. After the banking crisis from 2014, the reserves dropped by about one billion dollars and decreased to the lowest threshold in October 2015, respectively 1.74 billion dollars. After the stabilization of the Moldovan leu’s exchange rate, improvement of the banking system, re-establishment of the relations with the International Monetary Fund and the entrance of foreign loans on accounts of the Finance Ministry, the National Bank managed to recover the positions lost in two years. BNM intervenes on the domestic currency market only as buyer of foreign currency, in the conditions when the leu-dollars exchange rate continued to drop in 2017 and in the beginning of this year. 

National Bank’s data shows that the official reserve assets in 2017 grew by 598 million dollars against an increase of 470 million dollars in 2016.   

(Reporter V. Bercu, editor L. Alcaza)