The official reserve assets at the end of April totaled $3.344,95 billion, down $87.48 million compared with March 31, 2022, IPN reports, quoting the National Bank of Moldova.
According to the Bank, the decrease was influenced by the depreciation of the exchange rates of the component currencies of foreign exchange reserves in relation to the US dollar, with a loss of $52.83 million, net outflows related to the mandatory foreign currency reserves of licensed banks, of $20.84 million, payments made to service Moldova’s foreign debt, of $14.88 million, the net result of swap operations on the domestic currency market, of $9.9 million, net interventions on the domestic foreign exchange market in the form of foreign exchange sales, of $0.05 million.
The rise in the official reserve assets in the period was due to loans and grants that were registered in favor of the Ministry of Finance for investment projects, amounting to $12.62 million, net inflows in the account of the Office for the Management of External Assistance Programs, totaling $1.60 million, revenues from the management of foreign exchange reserves (€1.10m) and other net inflows ($2.23m).
The National Bank of Moldova said the decline in the mandatory reserves was due to two foreign shocks. The official reserve assets remain yet at a rather high level and can cope with the challenges associated with the geopolitical and post-pandemic instability.
