For the third consecutive month, official reserve assets are increasing. At the end of July, they amounted to 3.725 billion US dollars, an increase of 108 million dollars compared to June 30, IPN reports.
The National Bank of Moldova says that the increase in official reserve assets was due to net inflows related to the mandatory reserves in foreign currency of the licensed banks in the amount of 66.89 million dollars. It also increased due to net interventions in the domestic foreign exchange market in the form of foreign exchange purchases – $55.00 million. Also adding is a $20.04 million credit from the Polish Government for the financing of the state budget, including for the management of the refugee crisis.
Assets also increased as a result of the registration of credits and grants in favor of the Ministry of Finance for investment projects, totaling 5.01 million dollars. Among the factors are the income from the management of foreign exchange reserves - 3.03 million dollars, the revaluation of securities held in the investment portfolio - 1.15 million dollars, but also other net inflows.
During the reporting period, the decrease in official reserve assets was determined by the depreciation of the exchange rates of the component currencies of foreign reserves in relation to the US dollar – 28.15 million dollars. As a result of the payments related to the external public debt of the Republic of Moldova - 8.54 million dollars. Among the factors, BNM points to the payments of the Ministry of Finance in the amount of 4.71 million dollars and the net outflows from the account of the Office of Management of Foreign Assistance Programs in the amount of 3.10 million dollars.
Official reserve assets were on the decline for several months, reaching US$3.345 billion at the end of April. They started to increase in May, reaching US$3.554 billion by the end of the month.
