Official reserve assets close to new historic threshold of 3 billion dollars

Chisinau, 4 August /MOLDPRES/- The official reserve assets were close to a new historic threshold of 3 billion dollars, after a 46- million-dollar increase in the last week of July, according to data by the National Bank of Moldova (BNM). Foreign exchange reserves reached 2 billion 962 million dollars on 27 July.

BNM data show that the official reserve assets increased by 152 million lei compared to the end of last year. Most of the reserves, namely 1 billion 543 million dollars, are kept in securities and 1 billion 395 million are short-term assets and placements, including foreign banks.

The growth of foreign exchange reserves is determined by the recording of credits and grants in favor of the Ministry of Finance, entries from the International Monetary Fund, BNM interventions in the domestic foreign exchange market, foreign exchange reserve management revenues, etc.

The inflation report No3 presented on Friday states that in April-June BNM intervened in the domestic foreign exchange market as a buyer of foreign currency.

The National Bank states that the official reserve assets (identical to gross international reserves) are assets available at any time and controlled by the BNM for the direct financing of the balance of payments imbalance by conducting foreign exchange interventions for the purpose of monetary and foreign exchange policy.

National Bank data show that official reserve assets increased by 598 million dollars in 2017, compared to a 470- million- increase in 2016.

(Reporter V. Bercu, editor L. Alcază)