The official reserve assets at the end of March were US2.948,71 billion, down US$76.69  million on February 28, when these totaled US$3.025,40 billion, IPN reports, with reference to the National Bank of Moldova.

According to the Bank, the decline was due to interventions in the domestic currency market in the form of sales of foreign currency and payments for servicing Moldova’s external public debt. It was also influenced by the depreciation of the exchange rates of the foreign currencies that form part of the reserve assets against the US dollar, the payments made by the Ministry of Finance and other net inflows.

The rise in the official reserve assets was determined by net inflows related to the required foreign currency reserves of licensed banks (US$13.55m) and the receipt of the loan from the IMF (US$13.29m under the Extended Fund Facility, sixth tranche, and US$ 6.57m under the Extended Credit Facility, sixth tranche).

The rise was also influenced by currency swaps on the domestic currency market, reassessment of securities owned in investment portfolios, revenues from the management of currency reserve assets and the receipt of loans and grants for investment projects by the Ministry of Finance.