The official reserve assets of the National Bank of Moldova (NBM) at the end of January were US$4.602,70 billion, up US$128.53 million on December 30, 2022, when they totaled US$4.474,17 billion, IPN reports.
According to the NBM, the increase in the official reserve assets was due to the interventions on the domestic currency market in the form of currency purchases totaling US$118.2 million and to the appreciation of the exchange rates of the component currencies of the foreign exchange reserves against the US dollar, in the amount of US$3870 million. Also, the Ministry of Finance received the loans under the ECF (Extended Credit Facility) and EFF (Extended Fund Facility) tranche IV, disbursed by the International Monetary Fund, in the amount of US$27.76 million.
The increase was also influenced by the revenues from the management of the currency reserves totaling US$11.23 million and the net result of the currency swaps on the domestic currency market, of US$5.37 million. There were reassessed the securities as part of the investment portfolio (US$1.62m). The situation was also influenced by the loans and grants in favor of the Ministry of Finance for investment projects, in the amount of US$0.68 million, and the net inflows in the account of the Office for the Management of External Assistance Programs totaling US$0.56 million and other net inflows that came to US$1.96 million.
At the same time, the decline in the official reserve assets in the period was determined by the net outflows related to the required foreign currency reserve ratio of licensed banks, to the value of US$65.31 million and also by payments made to service the external public debt of the Republic of Moldova, in the amount of US$10.6 million and the payments made by the Ministry of Finance totaling US$1.64 million.
