Foreign exchange reserves down US$27m

The official foreign exchange reserves amounted to US$1.182 billion at the end of July, down over US$27 million from a month earlier, Info-Prim Neo reports, quoting the National Bank of Moldova. According to the bank, the foreign exchange reserves decreased after there were made payments of $26.93 million related to the reduction in the obligatory reserves in foreign currency and payments to service Moldova’s foreign debt, including the debt of about US$13 million to the IMF. Also, the exchange rates of the currencies that form part of the reserves depreciated against the US dollar by about US$0.46 million. The purchases of foreign currency to the value of US$14.72 million from Moldova’s currency market, the revenues of US$2.34 million from managing the foreign exchange reserves and other incomes of US$0.4 million contributed to a rise in the reserves.